Friday, July 12, 2024

#KnowYourPill: Why we need more conversations on substandard medicines and unethical clinical trials

 

In today's era of advanced healthcare innovations, new drugs and treatments continually emerge, promising improved quality of life. However, as consumers, it's crucial to approach new pills with vigilance, especially when prescribed. Government approvals and thorough studies provide assurances of safety, yet counterfeit pills can pose risks with adverse effects. Each pill carries both benefits and potential side effects, varying in effectiveness from person to person, underscoring the need to avoid self-medication.


JioCinema's recent offering, web series ‘PILL’ featuring Riteish Deshmukh, highlights these concerns, advocating for informed healthcare decisions, and igniting meaningful conversations on why one should know the medicine they consume. The series follows the journey of a whistleblower, who uncovers the hidden truths behind unethical clinical trials and the distribution of substandard medicines. 


Recently, Dr. Madhuri Agarwal, a renowned dermatologist also reflected upon the need to have such conversations and raise awareness on everything we don’t know about the pharmaceutical industry. 


https://www.linkedin.com/posts/dr-madhuri-agarwal-19b64024_knowyourpill-pillonjiocinema-jiocinemapremium-activity-7217209950496821248-BbsR?utm_source=share&utm_medium=member_desktop


At times, the pharmaceutical industry's unethical practices, particularly in clinical trials, pose significant risks to patient safety and the credibility of medical research. Implementing stricter regulations, promoting transparency, and creating an environment where researchers can freely publish their findings are crucial steps toward a more ethical and patient-centered approach in drug development and clinical trials.


Stricter regulations would help enforce rigorous standards in conducting trials, ensuring that the patient’s well-being is prioritized and that data integrity is maintained. Transparency in clinical trial processes, including disclosing potential conflicts of interest and detailed methodologies, fosters trust among patients and the scientific community.


Check out the world of pharmaceuticals unfold with Riteish Deshmukh’s upcoming series, ‘PILL’, directed by Raj Kumar Gupta, starts streaming on JioCinema Premium from July 12th.

Thursday, July 11, 2024

Wynk celebrates the release of Akshay Kumar starrer “Sarfira” with Rs 1/- subscription of Wynk Premium

Wynk Music, India's leading music streaming app by downloads and daily active users, today made live a unique offer for music fanatics in the country with a never before offer where users will get Wynk Premium subscription for Rs 1. 


The offer is in collaboration with Akshay Kumar, Radhikka Madan starrer "Sarfira" which is inspired by the life of G. R. Gopinath – the Founder of Air Deccan who revolutionized domestic air travel. The innovative offer of Wynk Premium subscription @ just Rs 1/- celebrates the idea of affordable air travel that was pioneered by Air Deccan in India.


Available only for today (July 12), the Rs 1/- Wynk Premium subscription can be availed by logging on here https://open.wynk.in/hp and will be valid for 30 days.


With Wynk Premium, users can enjoy an exciting music experience with exclusive features like ad-free streaming, unlimited downloads, high-quality audio with DOLBY Atmos, unlimited Hellotunes, amongst many other benefits. Wynk Premium also offers irresistible experiences to all its users like fan-artist meets, exclusive experiences like movie set visits amongst others.


Some of the recent initiatives that we were exclusively available for Wynk Premium customers include:

Kalki 2898 AD experience on Wynk: All Wynk Premium users had to simply stream the songs of the latest sci-fi action thriller - ‘Kalki 2898AD’ on Wynk Music to stand a chance to win an once-in-a-lifetime opportunity to experience the enthralling sets of the Hindu mythology inspired post-apocalyptic film.

Exclusive tete-a-tete with International heartthrob Ed Sheeran: Wynk Premium users also stood a dream come true opportunity to jam with International music sensation - Ed Sheeran by participating in the "Ed Sheeran Trivia Marathon" and answering simple trivia questions on the global artist and streaming his songs on the Wynk music app.

Coffee date with Jubin Nautiyal: Wynk Premium users got an exclusive chance to get up-close and personal with Jubin Nautiyal and get to know him over a coffee date.

Users can avail this exclusive 1-day offer to get Wynk Premium at Rs 1 by clicking https://open.wynk.in/hp and dive into an unparalleled music experience and celebrate the spirit of "Sarfira" with Wynk Music now!












2024 GROHE-HURUN INDIA REAL ESTATE 100

July 2024     

2024 GROHE-HURUN INDIA REAL ESTATE 100 

A RANKING OF INDIA’S MOST VALUABLE REAL ESTATE Companies With A VALUE OF INR 2 LAKH CRORE, DLF IS INDIA'S MOST VALUABLE REAL ESTATE COMPANY. 


MACROTECH DEVELOPERS AT INR 1.4 LAKH CRORE AND INDIAN HOTELS COMPANY (FAMOUSLY KNOWN AS THE TAJ GROUP OF HOTELS) AT INR 79,150 CRORE OCCUPY THE 2ND AND 3RD SPOT IN THE 2024 GROHE-HURUN INDIA REAL ESTATE 100.


IHCL/ TAJ GROUP IS THE MOST VALUABLE HOSPITALITY COMPANY IN 2024 GROHE-HURUN INDIA REAL ESTATE 100.


FOR THE FIRST TIME SINCE THE INCEPTION OF 2024 GROHE-HURUN INDIA REAL ESTATE 100, ADANI REALTY, LED BY REAL ESTATE VETERAN - JACKBASTIAN K. NAZARETH, STORMS INTO THE TOP 10! ADANI REALTY GREW 62% YOY, WITH A CUMULATIVE VALUATION OF INR 56,500 CRORE AND IS AT RANK 7.


ADANI REALTY IS ALSO THE MOST VALUABLE UNLISTED REAL ESTATE COMPANY ON THE LIST.


TWO TAJS ON THE LIST: WITH A VALUATION OF INR 79,150 CRORE, TAJ GROUP OF HOTELS (IHCL), LED BY PUNEET CHHATWAL, OCCUPIES THE 3RD SPOT AND TAJ GVK, VALUED AT INR 2,050 CRORE, OCCUPIES THE 74TH SPOT IN 2024 GROHE-HURUN INDIA REAL ESTATE 100.


GOLDEN YEAR FOR INDIAN REAL ESTATE: 86% OF THE COMPANIES IN THE 2024 GROHE-HURUN INDIA REAL ESTATE 100 SAW THEIR VALUE INCREASE – A CUMULATIVE ADDITION OF INR 6.2 LAKH CRORE! 


TOP EMPLOYER: EMPLOYING 26,275 PEOPLE, SOBHA LEADS THE WAY AMONG TOP EMPLOYERS IN THE LIST.


CUMULATIVE VALUE OF INDIA’S MOST VALUABLE REAL ESTATE COMPANIES IN 2024 GROHE-HURUN INDIA REAL ESTATE 100 GREW BY 70%, HIGHEST EVER SINCE THE INCEPTION OF THE LIST. THIS IS IN LINE WITH THE BSE REALTY INDEX, WHICH GREW BY 110%.


BIGGEST GAINER: DEVINDER SINGH-LED DLF REGISTERED A VALUE INCREASE OF INR 85,000 CRORE COMPARED TO LAST YEAR AND TOPS THE LIST OF GAINERS IN ABSOLUTE TERMS. 


IN TERMS OF PERCENTAGE GROWTH, UNITECH, LED BY ASHOK KUMAR YADAV, GREW ITS VALUE BY 622% TO INR 2,590 CRORE.


18 OF THE TOP 100 ARE LED BY PROFESSIONAL CEOS WHO DO NOT HAIL FROM THE FOUNDING FAMILY.


INDIA’S MOST VALUABLE REAL ESTATE COMPANIES 

IN 2024 GROHE-HURUN INDIA REAL ESTATE 100 HAVE A COMBINED VALUE OF USD 171 BILLION (INR 14.2 LAKH CRORE)- THIS IS MORE THAN THE COMBINED GDP OF OMAN AND SRI LANKA.


WOMEN IN THE LIST: LED BY PAVITRA SHANKAR, BENGALURU BASED BRIGADE ENTERPRISES, VALUED AT INR 29,690 CRORE, AND LED BY G INDIRA KRISHNA REDDY, HYDERABAD BASED TAJ GVK, VALUED AT INR 2,050 CRORE ARE THE ONLY TWO WOMEN LED COMPANIES IN THE 2024 GROHE-HURUN INDIA REAL ESTATE 100.


YOUNGEST COMPANIES: FOUNDED JUST 8 YEARS AGO, NOIDA-BASED MAX ESTATES, LED BY SAHIL VACHANI, AND GURUGRAM-BASED SMARTWORKS, LED BY NITEESH SARDA, ARE THE YOUNGEST COMPANIES IN THE LIST.


FOUNDED IN 1871, PENINSULA LAND, VALUED AT INR 1,830 CRORE, IS THE OLDEST COMPANY IN 2024 GROHE-HURUN INDIA REAL ESTATE 100.


AVERAGE AGE: THE AVERAGE AGE OF COMPANIES IN 2024 GROHE-HURUN INDIA REAL ESTATE 100 IIS 39 YEARS.


NEETISH SARDA, AGED 30, OF SMARTWORKS, IS THE YOUNGEST LEADER ON THE 2024 GROHE-HURUN INDIA REAL ESTATE 100.


BIKRAMJIT AHLUWALIA FROM AHLUWALIA CONTRACTS, AGED 84, IS THE OLDEST LEADER ON THE 2024 GROHE-HURUN INDIA REAL ESTATE 100.


THE THRESHOLD TO QUALIFY FOR THE 2024 GROHE-HURUN INDIA REAL ESTATE 100 STANDS AT INR 1,200 CRORE - AN INCREASE OF 30% COMPARED TO THAT OF LAST YEAR.


67% OF THE 2024 GROHE-HURUN INDIA REAL ESTATE 100 PRIMARILY FOCUS ON THE RESIDENTIAL SECTOR, WHILE 19% CONCENTRATE ON THE COMMERCIAL SECTOR.


MUMBAI LEADS THE LIST WITH 33 COMPANIES, FOLLOWED BY BENGALURU WITH 15, NEW DELHI WITH 14 COMPANIES, AND GURUGRAM WITH 10 COMPANIES – THE BIG 4 CITIES CUMULATIVELY CONTRIBUTE 72% OF THE COMPANIES ON THE LIST.


THE AVERAGE AGE OF KEY LEADERS ON THE 2024 GROHE-HURUN INDIA REAL ESTATE 100 IS 55 YEARS.


WITH A NATIONAL PRESENCE IN 18 STATES, UNITECH LEADS THE 2024 GROHE-HURUN INDIA REAL ESTATE 100 FOR COMPANIES WITH THE HIGHEST NATIONAL PRESENCE, FOLLOWED BY NCC & OMAXE WITH 9 STATES EACH.


OF THE 100 COMPANIES LISTED IN THE 2024 GROHE-HURUN INDIA REAL ESTATE 100 - INDIAN HOTELS COMPANY, GERA DEVELOPMENTS, OBEROI (HOSPITALITY), BCD, MACROTECH DEVELOPERS AND SKYLINE HAVE A GLOBAL PRESENCE.


AMONG UNDERGRADUATE INSTITUTIONS, DELHI UNIVERSITIES STAND OUT AS THE TOP CHOICE OF THE REAL ESTATE LEADERS IN THE 2024 GROHE-HURUN INDIA REAL ESTATE 100.


HOLDING THE TOP POSITION AMONG POSTGRADUATE INSTITUTIONS ON THE 2024-HURUN INDIA REAL ESTATE 100 IS HARVARD BUSINESS SCHOOL THE REAL ESTATE COMPANIES ON THE LIST RUN BY GRADUATES FROM HARVARD CONTRIBUTED TO A CUMULATIVE VALUE OF INR 1.2 LAKH CRORE.



(11 July 2024, Mumbai) Hurun Report released the 2024 GROHE-Hurun India Real Estate 100, ranking India’s most successful real estate companies by value. We have also presented a list of the wealthiest real estate entrepreneurs in the country. Value and wealth calculations are a snapshot of 31 May 2024.

Priya Rustogi, Leader, India & Subcon, LWT IMEA said, "It is with immense pride and honor we reaffirm our enduring partnership with Hurun India for the 2024 GROHE-Hurun India Real Estate 100. Over the years, we have witnessed remarkable advancements within the Indian real estate sector, driven by visionary leaders who consistently push the boundaries of innovation and excellence. The latest rankings underscore the resilience and adaptability of these industry pioneers and their dedication to promote a sustainable and forward-thinking future for the sector. As we move forward, we are dedicated to supporting these leaders in their pursuits and are eager to see the continuous progress of the Indian real estate landscape. We are thankful to the industry stalwarts for giving us time and glimpse into their brilliant minds and ideas."

Anas Rahman Junaid, Founder and Chief Researcher, Hurun India said, “The 2024 GROHE-Hurun India Real Estate 100 confirm our prediction of breakout of Indian real estate brands post covid. An impressive 86% of the companies in this year’s list saw their values increase, collectively adding INR 6.2 lakh Cr, showcasing the robust growth and dynamic recovery of the sector."

"India is accelerating to become the real estate capital of Asia, with 36 billion dollar real estate companies in 2024 GROHE-Hurun India Real Estate 100, pushing away China in terms of growth rate, whose real estate market is facing significant headwinds due to government clampdowns and demand slowdown. India's market benefits from a young population, increasing urbanization, and a growing middle class. Additionally, the implementation of the Real Estate (Regulation and Development) Act (RERA) has enhanced transparency and accountability, boosting investor confidence. In contrast, China's market struggles with excess supply, high debt levels among property developers, and strict government regulations making India's real estate sector a more attractive and stable investment destination."

"India’s real estate economy is firing from all cylinders! 2024 GROHE-Hurun India Real Estate list of India’s 100 most valuable real estate enterprises include companies focusing on residential, commercial, hospitality, and co-working spaces. India's real estate sector is experiencing a remarkable boom, driven by a rapidly growing middle class, robust economic expansion, and increasing investments. With the middle class projected to reach 547 million by 2030, residential sales are expected to grow 10-12% in FY 2024-25. Rising foreign investments of around US$ 4 billion yearly are further catalysing growth.”

"Sixty of the top 100 companies operate beyond their core state headquarters, indicating a significant trend toward national brand building in the real estate sector. Notably, six companies on the list have an international presence, demonstrating the global ambitions of Indian real estate companies. With the strength of the Indian diaspora, Indian real estate companies are well-positioned to expand internationally, a trend we expect to see grow in the coming years."

"The list showcases that entrepreneurs hailing from tier 2 cities are forging some of the most impactful real estate enterprises in the nation. 5% of the entrants in 2024 GROHE-Hurun India Real Estate 100 hail from tier 2 cities. This highlights the fact that geographic boundaries no longer limit the rise of influential real estate players in India."

“The 2024 GROHE-Hurun India Real Estate 100 employs around 500,000 people, equivalent to the population of Maldives. Proximity to vital transportation hubs such as airports, well-constructed highways, and efficient metro stations significantly influence both homebuyers and businesses seeking strategic locations. India is projected to add 200,000 km of national highways by 2037, fostering the growth of micro cities and further value addition by India’s real estate sector.”

“Story of the companies in 2024 GROHE-Hurun India Real Estate 100, tell the story of India’s real estate economy”, concluded Anas Rahman Junaid.


The Top 10 in 2024 GROHE-Hurun India Real Estate 100 – The Most Valuable Real Estate Companies

DLF has emerged as the top real estate company in the 2024 GROHE-Hurun India Real Estate 100, with a valuation of INR 2,02,140 Cr. Following DLF, Macrotech Developers holds the second position with a valuation of INR 1,36,730 Cr, and Indian Hotels Company ranks third with INR 79,150 Cr. Among the top 10 companies, 60% are headquartered in Mumbai, while two are based in Bengaluru and one each in Gurugram and Ahmedabad.


Table 1: 2024 GROHE-HURUN REAL ESTATE 100 - Top 10

Rank Company Value (INR Cr) Change % City of HQ Key Leader

1 DLF 2,02,140 72% Gurugram Devinder Singh

2 Macrotech Developers 1,36,730 160% Mumbai Abhishek Lodha

3 Indian Hotels Company 79,150 43% Mumbai Puneet Chhatwal

4 Godrej Properties 77,280 100% Mumbai Gaurav Pandey

5 Oberoi Realty 66,200 96% Mumbai Vikas Oberoi

6 Prestige Estates Projects 63,980 230% Bengaluru Irfan Razack

7 Adani Realty 56,500 62% Ahmedabad Jackbastian K. Nazareth

8 The Phoenix Mills 55,740 112% Mumbai Shishir Ashok Shrivastava

9 K Raheja Group 55,300 65% Mumbai Vinod Rohira

10 Embassy Office Parks 33,150 14% Bengaluru Aravind Maiya

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

With a valuation of INR 2 lakh crore, DLF secures the top spot on the 2024 GROHE-Hurun India Real Estate 100 post a growth by 72% in its valuation. Under the leadership of Devinder Singh, the company has been instrumental in shaping India's urban landscape with a diverse portfolio spanning residential, commercial, and retail properties. DLF has ambitious plans, with projects worth approximately INR 30,000 crore set to launch in the fiscal year 2025.

At a current valuation of INR 1.4 lakh crore, Macrotech Developers has seen its valuation grow by 160% compared to last year, securing the 2nd position in the 2024 GROHE-Hurun India Real Estate 100. Based in Mumbai and founded by Mangal Prabhat Lodha, Macrotech Developers recorded its highest-ever pre-sales of INR 14,520 crore in FY24.

The Indian Hotels Company (IHCL) or famously known as the Taj Group ranks 3rd in the 2024 GROHE-Hurun India Real Estate 100, with a valuation of INR 79,150 Cr, reflecting a 43% growth. Established by Jamsetji Tata in 1902 and led by Puneet Chhatwal, IHCL manages a diverse portfolio of luxury, premium, and business hotels across India and internationally. The company is also set to launch two new brands and plans to open 85 hotels in the fiscal year 2024-2025, focusing on Tier 2 and Tier 3 cities.

With a valuation of INR 77,280 crore, Godrej Properties, a subsidiary of the Godrej Group, ranks fourth on the 2024 GROHE-Hurun India Real Estate 100, having doubled its valuation with a 100% increase. Founded by Ardeshir Godrej, Godrej Properties is the first real estate company to have an ISO certification. The company has recently acquired a 7-acre land parcel in Bengaluru to construct a housing project worth INR 1,200 crore.

With a valuation of INR 66,200 Crore (up 96%), The Oberoi Realty, established by Vikas Oberoi, secures the 5th spot in 2024 GROHE-Hurun India Real Estate Top 100. For the first time, Oberoi Realty has expanded into the National Capital Region (NCR) by acquiring 14.81 acres of land in Gurugram, Haryana, for INR 597 Cr.

Prestige Estates Projects holds the sixth position in the 2024 GROHE-Hurun India Real Estate 100 with a valuation of INR 63,980 crore, following an exceptional growth rate of 230% over the past year. Under the leadership of Irfan Razack, Prestige Estates Projects demonstrates expertise in developing diverse properties, including residential complexes, commercial spaces, retail outlets, and hospitality ventures. Through its subsidiaries, the group has entered a deal with Abu Dhabi Investment Authority (ADIA) and Kotak Alternate Investment Fund (AIF) for INR 2,001 crore and plans to develop projects with a gross development value (GDV) of INR 18,000 crore across four cities: Bengaluru, Mumbai, Goa, and the NCR.

Adani Realty, part of the Adani Group, ranks seventh in the 2024 GROHE-Hurun India Real Estate 100 with a valuation of INR 56,500 crore. Founded under Gautam Adani's leadership, the company has grown by 62% this year and is the most valued unlisted company in the list. Earlier this year, Adani Realty emerged as the highest bidder for the redevelopment of a 24-acre plot at Bandra Reclamation land parcel, put up by the Maharashtra State Road Transport Corporation (MSRDC).

The Phoenix Mills ranks 8th with a valuation of INR 55,740 crore, marking a remarkable 112% growth over the past year. Founded by Ramnarain Ruia, the company focuses on innovative mixed-use projects integrating shopping malls, entertainment zones, luxury hotels, offices, and residences. The company is strategically expanding its commercial offices portfolio across five key cities in India, aiming to incorporate assets totalling 5.1 million sq. ft in proximity to its existing retail malls over the next three years.

Founded by Chandru Lalchand Raheja, the K Raheja Group occupies the ninth position in this year's ranking, with a valuation of INR 55,300 crore. With a notable 65% growth over the past year, the group has established itself as a leader in developing premium residential complexes, commercial spaces, shopping malls, and luxury hotels in major Indian cities. K Raheja Corp has signed an agreement to jointly develop a 2.5-acre land parcel in Mumbai's Worli, aiming for a luxury residential project with a revenue potential exceeding INR 2,000 crore.

Embassy Office Parks, valued at INR 33,150 Cr, holds the tenth spot in the 2024 GROHE-Hurun India Real Estate 100 with a 14% growth over the past year. Founded by Jitendra Virwani, the Embassy portfolio comprises 36.5 million square feet of completed operating area and is home to 255 of the world’s leading companies. Embassy REIT, the country's first listed REIT, recently announced the acquisition of Embassy Splendid TechZone Asset, a Grade-A business park, in Chennai for an Enterprise Value of INR 1,269 crore.










2024 GROHE-HURUN INDIA REAL ESTATE RICH LIST – India’s wealthiest real estate entrepreneurs

With a wealth of INR 1,24,420 Cr, Rajiv Singh from DLF leads the 2024 GROHE-Hurun India Real Estate Rich, followed by Mangal Prabhat Lodha from Macrotech Developers with INR 91,700 Cr at the second spot, and Gautam Adani & family from the Adani Realty with INR 56,500 Cr at third. Of the top 10 on the real estate rich list, five are from Bengaluru and four from Mumbai.

Table 2: The Top Wealthiest Real Estate Entrepreneurs

Rank Name Company Wealth

(INR Cr)# Change

(%) City of Residence

1- Rajiv Singh DLF 1,24,420 72% New Delhi

2- Mangal Prabhat Lodha & family Macrotech Developers 91,700 160% Mumbai

3* Gautam Adani & family Adani Realty 56,500 62% Ahmedabad

4↑ Vikas Oberoi Oberoi Realty 44,820 96% Mumbai

5↓ Chandru Raheja & family K Raheja Group 43,710 65% Mumbai

6↑ Atul Ruia The Phoenix Mills 26,370 110% Mumbai

7↑ Raja Bagmane Bagmane Developers 19,650 5% Bengaluru

8↓ Jitendra Virwani Embassy Office Parks 16,000 -53% Bengaluru

9↑ Irfan Razack Prestige Estates Projects 13,970 230% Bengaluru

9↑ Rezwan Razack Prestige Estates Projects 13,970 230% Bengaluru

9↑ Noaman Razack Prestige Estates Projects 13,970 230% Bengaluru


  Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100;  (- no change, * new to top 10,  ↑rank moved up, ↓rank moved down). #Wealth based on the ownership in their real estate companies only

Rajiv Singh, 65, the Managing Director of DLF, is the wealthiest Indian real estate entrepreneur with a wealth of INR 1.2 lakh crore, maintaining his position in the 2024 GROHE-Hurun India Real Estate 100. Singh's pivotal role in fostering Haryana's economic development was recognized with the Udyog Ratna Award in December 2005.

With a wealth of INR 91,700 crore, Mangal Prabhat Lodha and family of Macrotech Developers (formerly Lodha Group), maintains position as the second wealthiest in India's real estate landscape. Macrotech Developers, currently spearheaded by Abhishek Lodha recorded its highest-ever pre-sales of INR 14,520 crore in FY24.

Gautam Adani and family secured the third position with a wealth of INR 56,500 crore, marking a 62% increase since 2023. Known for his strategic acumen and vision, Gautam Adani has steered Adani Realty into the top 10 in this year's list.

Vikas Oberoi, 54, of Oberoi Realty, has risen to the fourth position on the list following a wealth surge of 96%, reaching INR 44,820 Cr. Oberoi Realty has expanded into the National Capital Region (NCR) by acquiring 14.81 acres of land in Gurugram, Haryana, for INR 597 Cr.

Chandru Raheja and family of K Raheja Group has moved down by one to the 5th position on the list despite seeing wealth grow by 65% over the past year. Currently, the company is strategizing the redevelopment of SOBO Central Mall, India’s pioneering mall, into a luxurious high-end residential project.

Atul Ruia, 53, has risen to the sixth position in the 2024 GROHE-Hurun India Real Estate 100 with a wealth of INR 26,370 Cr, reflecting a remarkable 110% increase. Phoenix Mills is gearing up to elevate its presence with the addition of a third mall in Thane, Mumbai Metropolitan Region, alongside exploring promising prospects for a new hotel development.

Raja Bagmane, 64, of Bagmane Developers holds the seventh position with a wealth of INR 19,650 Cr, reflecting a 5% increase. Recently, the Bengaluru-based company leased 2.23 lakh sq. ft of office space to Texas Instruments for a monthly rent of INR 1.4 Cr.

Jitendra Virwani, 58, has secured the 8th position on the list with a wealth of INR 18,000 Cr, despite experiencing a 53% decrease in his wealth over the past year. Notably, he is the only individual in the top 10 to have seen a reduction in wealth from 2023. Embassy Group, under his leadership, has become one of India's leading real estate developers, known for its commercial properties and office spaces.

Irfan Razack, 70, Rezwan Razack, 69 and Noaman Razack, 66, of Prestige Estates Projects hold the ninth spot on the list, each with a wealth of 13,970 Cr, marking a significant increase of 230%. Currently, Prestige Estates Projects manages 1,849 keys of hospitality assets across the country and plans to double its hospitality portfolio over the next three to four years, with a total investment of INR 1,700 Cr. 


Mumbai continues to be the real estate capital of India!

The 2024 GROHE-Hurun India Real Estate 100 came from 10 states, led by Maharashtra, Delhi Karnataka and followed by Haryana. By city, Mumbai led with 33 companies, followed by Bengaluru  with 15, New Delhi with 14 Companies and Gurugram with 10.

Table 3: List of top cities in 2024 GROHE-HURUN INDIA REAL ESTATE 100

Rank City No of companies Cumulative Valuation (INR Cr) Most Prominent Company in Real Estate Value

(INR Cr)

1 Mumbai 33 6,40,560 Macrotech Developers 1,36,730

2 Bengaluru 15 2,13,720 Prestige Estates Projects 63,980

3 New Delhi 14 87,460 Oberoi Group 28,430

4 Gurugram 10 2,49,320 DLF 2,02,140

5 Hyderabad 6 68,290 Aparna Constructions & Estates 33,130

6 Ahmedabad 4 68,390 Adani Realty 56,500

6 Noida 4 11,470 Max Estates 4,570

6 Pune 4 12,560 Gera Developments 4,750

9 Chennai 3 12,730 Casagrand 8,490

9 Kochi 3 20,970 Skyline 2,410

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100





Biggest Gainers

The biggest gainer in valuation growth in the 2024 GROHE-Hurun India Real Estate 100 is New Delhi-based Unitech followed by Tata Realty and Puravankara. By year-on-year growth in absolute value, the biggest gainers were DLF, Macrotech Developers and Prestige Estates Projects.

Table 4: 2024 GROHE-HURUN INDIA REAL ESTATE 100 – Biggest Gainers

Rank Company Change (%) Value (INR Cr)

1 Unitech 622% 2,590

2 Tata Realty 554% 8,670

3 Puravankara 382% 9,520

4 Jasdanwalla Group 361% 1,670

5 Anant Raj 304% 18,120

Rank Company Value Change Value (INR Cr)

1 DLF 84,620 2,02,140

2 Macrotech Developers 84,220 136,730

3 Prestige Estates Projects 44,600 63,980

4 Godrej Properties 38,660 77,280

5 Oberoi Realty 32,360 66,200

Biggest Gainers by % Biggest Gainers by Value (INR Cr)                                 


Source: Hurun Research Institute; 

2024 GROHE-HURUN INDIA REAL ESTATE 100

Residential Sector continues to be the top value creator in 2024 GROHE-HURUN INDIA REAL ESTATE 100

67% of the 2024 GROHE-Hurun India Real Estate100 companies primarily focus on the residential sector, followed by Commercial development.

Chart 5: The chart below shows the distribution of the primary sectors of the companies. Most of the top real estate companies in India focus on residential development

  Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 10


Sector Analysis

In the 2024 GROHE-Hurun India Real Estate 100, most companies are focused on residential property development, with 67 firms, including Macrotech Developers, and Godrej Properties, leading the pack. The office space sector follows, featuring 19 companies led by DLF, K Raheja Group, and Embassy Office Parks.

Table 6: 2024 GROHE-HURUN INDIA REAL ESTATE 100 - Residential and Office Space Developers Dominance

Rank Sector No of companies Cumulative Valuation (INR Cr) Key Companies

1 Residential 66 7,92,610 Macrotech Developers, Oberoi Realty, Godrej Properties

2 Office Spaces 19 3,96,020 DLF, K Raheja Group, Embassy Office Parks

3 Hospitality 10 1,58,870 Indian Hotels Company,  Oberoi Group,  Lemon Tree

4 Retail 2 63,890 The Phoenix Mills, Lulu International Shopping Malls

4 Co-Working Spaces 2 7,800 Smartworks, Awfis Space Solution

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

2024 GROHE-HURUN INDIA REAL ESTATE 100 registered a revenue growth of 30% compared to last year

Revenue for the companies in the 2024 GROHE-Hurun India Real Estate 100 surged by 30% to INR 1.6 lakh Cr. Bengaluru-based Urbanrise saw a 226% increase in FY2023, while Appaswamy Real Estate achieved a threefold rise. Additionally, 15% of the companies in the list doubled their revenue compared to the previous year’s.


Table 7: Rank by revenue Growth Y-O-Y*

Rank Company YoY

Change (%) Value

(INR Cr) Key Leader

1 Urbanrise 226% 10,910 Manoj Namburu, Suneel Bommireddy

2 Appaswamy Real Estate 220% 1,870 Rohit Ravi

3 D B Realty 203% 10,940 Shahid Usman Balwa

4 Tata Realty 140% 8,670 Sanjay Dutt

4 Hotel Leela Venture 140% 1,650 Vivek Nair

6 Peninsula Land 130% 1,830 Rajeev Piramal

7 Samhi Hotels 129% 4,010 Ashish Jakhanwala

8 Marathon Nextgen Realty 120% 1,920 Chetan Shah

9 Unitech 116% 2,590 Ashok Kumar Yadav

10 Signature Global 111% 12,330 Ravi Aggarwal

10 Lemon Tree 111% 10,800 Patanjali Govind Keswani

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100; *22-23 revenue growth

 Chart 8: 56% of the companies generate revenue below INR 1000 Cr, whereas 5 in the list registered revenue over INR 5000 Cr. The chart below shows the Revenue Distribution

 

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

Who is no.1 in terms of Square Feet developed?

Having developed 340 million square feet, DLF holds the record for the largest square feet developed in the 2024 GROHE-Hurun India Real Estate 100. Prestige Estates Projects and Godrej Properties take the second and third positions in residential property development, having developed 176 million and 151 million square feet, respectively.

Table 9: 2024 GROHE-HURUN INDIA REAL ESTATE 100– Top ten by square feet developed

Rank Company Total Sq. Ft Developed (msf) Primary Sector Value

 (INR Cr)

1 DLF 340 Commercial 2,02,140 

2 Prestige Estates Projects 176 Residential 63,980 

3 Godrej Properties 151 Residential 77,280 

4 BCD Group 150 Residential 1,600 

5 Sobha 128 Residential 18,050 

6 BL Kashyap & Sons 125 Commercial 1,510 

7 D B Realty 100+ Residential 10,940

8 K Raheja Group 100 Commercial 57,100 

9 Emaar India 89 Residential 5,570 

10 Macrotech Developers 85 Residential 1,36,730 

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100; Company Websites, Annual Reports



Chart 10: 41% of the companies listed also appear on the Hurun India Rich List 2023, while 14% feature on the Hurun Global Rich List 2024. The chart below shows the number of companies that also feature in the other lists of Hurun Source: Hurun Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100


The oldest real estate business in the 2024 GROHE-HURUN INDIA REAL ESTATE 100 was founded in 1871!

The average age of the 2024 GROHE-Hurun India Real Estate 100 is 39. Twenty-four companies have a history of more than 50 years, of which Peninsula Land is more than 150 years old.  

Twenty-eight companies were founded in this millennium of which three are less than ten years old, led by Max Estates, Smartworks and Awfis Space Solution.

Table 11: Top 10 Oldest Companies

Rank Company Founded Year Value

(INR Cr) Key Leader

1 Peninsula Land 1871 1,830 Rajeev Piramal

2 Indian Hotels Company 1899 79,150 Puneet Chhatwal

3 The Phoenix Mills 1905 55,740 Shishir Ashok Shrivastava

4 Oberoi Group 1934 28,430 Arjun Singh Oberoi

5 Jasdanwalla Group 1946 1,670 Mahesh Mudda

5 DLF 1946 2,02,140 Devinder Singh

7 Ambuja Neotia 1950 1,430 Harshavardhan Neotia

8 BCD Group 1952 1,600 Angad Singh Bedi

9 K Raheja Group 1956 55,300 Vinod Rohira

10 Appaswamy Real Estate 1959 1,870 Rohit Ravi

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

Rank Company Founded Year Value

(INR Cr) Key Leader

1 Max Estates 2016 4,570  Sahil Vachani

1 Smartworks 2016 5,000 Neetish Sarda

3 Awfis Space Solution 2015 2,800 Amit Ramani

4 Embassy Office Parks 2014 33,150 Jitendra Virwani

4 Signature Global 2014 12,330 Ravi Aggarwal

6 Capacite Infraprojects 2012 2,610 Rahul Katyal

6 Piramal Realty 2012 1,850 Abhijeet Maheshwari

8 L&T Realty 2011 18,620 Anupam Kumar

9 Adani Realty 2010 56,500 Jackbastian K. Nazareth

9 Samhi Hotel 2010 4,010 Ashish Jakhanwala

9 M3M India 2010 11,310 Roop Kumar Bansal

Table 12: Top 10 Youngest Companies

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100


Chart 13: 52% of the listed companies are unlisted, while the remaining 48% are listed. Chart below illustrates the distribution between listed and unlisted companies.

 

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100






Top Unlisted Companies in 2024 GROHE-HURUN INDIA REAL ESTATE 100

The 2024 GROHE-Hurun India Real Estate 100 features some of the most valuable unlisted companies. Adani Realty is the most valuable unlisted company, followed by K Raheja Group and the Aparna Construction & Estates.

Rank Company Value

(INR Cr) City of HQ Primary Sector

1 Adani Realty 56,500 Ahmedabad Residential

2 K Raheja Group 55,300 Mumbai Commercial

3 Aparna Constructions & Estates 33,130 Hyderabad Residential

4 Hiranandani Communities 30,000 Mumbai Residential

5 Gaursons India 24,950 Ghaziabad Residential

6 Bagmane Developers 20,050 Bengaluru Commercial

7 L&T Realty 18,620 Mumbai Residential

8 Lulu International Shopping Malls 17,190 Kochi Retail

9 Runwal Developers 13,300 Mumbai Residential

10 M3M India 11,310 Gurugram Residential

Table 14: Top 10 Unlisted Companies

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

Most Preferred Undergrad and Postgrad Institutes

Delhi University emerge as the leading undergraduate institutes, with 6 key leaders from the Real Estate List having studied there, followed closely by Mumbai University with 5 Key leaders. Harvard Business School is the top choice in the postgraduate category, with seven key leaders having graduated from there.


Rank Alumni’s School of Graduation No. of Companies Key Companies whose leaders are alumni

1 Delhi University 6 Indian Hotels Company (Taj), Tata Realty, Emaar India

2 Mumbai University 5 Oberoi Realty, Hiranandani Communities

3 IIT Bombay 3 Sobha, Mahindra Holidays and Resorts

4 St. Xavier's College 2 Hotel Leela Venture

4 Harvard University 2 Runwal Developers

 Table 15: Top 5 Undergraduate Institutes

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100







Rank Alumni’s School of Post Graduation No. of Companies Notable Alumnus Company

1 Harvard Business School 7 Vikas Oberoi Oberoi Realty

2 IIM Bangalore 2 Manoj Bhat Mahindra Holiday & Resorts India

2 IIM Calcutta 2 Jagadish Nangineni Sobha

2 IIM Kozhikode 2 Gaurav Pandey Godrej Properties

2 Symbiosis International University 2 Arun Mn Casagrand

Table 16: Top 5 Postgraduate Institutes

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

Top Debt reducers

Tata Realty leads with a significant 42% reduction in debt compared to the previous year in the 2024 GROHE-Hurun India Real Estate List 100. Embassy Office Parks ranks second, having reduced their debt by INR 1,653 Cr. DLF also achieved a notable 52% reduction in its debt, bringing its total debt down to INR 1,050 Cr.


Rank Company Debt Change Absolute (in INR Cr) Long Term Debt 2023 (in INR Cr) Long Term Debt 2022 

(in INR Cr) Primary Sector

1 Tata Realty 2,552 3,515 6,067 Residential

2 Embassy Office Parks 1,653 10,421 12,074 Commercial

3 DLF 1,140 1,050 2,189 Commercial

4 Indian Hotels Company 1,057 331 1,388 Hospitality

5 Godrej Properties 1,000 0 1,000 Residential

Table 17: Biggest Debt Change Y-O-Y

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

Lowest Debt to Equity

Ganesh Housing Corporation tops the 2024 GROHE-Hurun India Real Estate 100 with the lowest debt-to-equity ratio of 0.02x.


Table 18: Debt to Equity

Rank Company Debt to Equity 2024 (x) Debt to Equity 2023 (x) Value of the company (INR Cr) Key Leader

1 Ganesh Housing Corporation 0.02 0 6,450 Shekhar Govindbhai Patel

2 Hotel Leela Venture 0.03 0.02 1,650 Vivek Nair

2 Ahluwalia Contracts 0.03 0 7,840 Bikramjit Ahluwalia

2 Apeejay Surrendra Park Hotels 0.03 1.10 3,590 Vijay Dewan

2 Indian Hotels Company 0.03 0.10 79,150 Puneet Chhatwal

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

Region-wise distribution

In the 2024 GROHE-Hurun India Real Estate 100, 41% of the listed companies hail from the Western Region, where Macrotech Developers stands out as the highest valued. The Northern Region contributes 29% of the total companies, while the Southern Region comprises 28%

Table 19: Region-wise wealth creation 

Rank Region Cumulative wealth 2024 (%) Company in the region with highest value Value (INR Cr)

1 Western Region 41% Macrotech Developers 1,36,730

2 Northern Region 29% DLF 2,02,140

3 Southern Region 28% Prestige Estates Projects 63,980

4 Eastern Region 2% Apeejay Surrendra Park Hotels 3,590

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

How many do they employ? *

The listed companies in the 2024 GROHE-Hurun India Real Estate 100 employ over 1,65,000 individuals, averaging 4,894 employees per company. Notably, 19 of these companies have a workforce exceeding 1,000 employees, with Sobha leading at 26,275 employees and NCC following with 20,615 employees.

Table 20: Top 10 employers in the 2024 GROHE-Hurun India Real Estate 100

Rank Company Number of employees Primary sector City of HQ

1 Sobha 26,275 Residential Bengaluru

2 NCC 20,615 Residential Hyderabad

3 Macrotech Developers 17,014 Residential Mumbai

4 Brigade Enterprises 16,715 Commercial Bengaluru

5 Ahluwalia Contracts 14,644 Commercial New Delhi

6 Oberoi Group 13,359 Hospitality New Delhi

7 Prestige Estates Projects 12,335 Residential Bengaluru

8 PSP Projects 12,111 Commercial Ahmedabad

9 Mahindra Holiday & Resorts India 5,262 Hospitality Mumbai

10 Godrej Properties 4,471 Residential Mumbai

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100 *Only listed companies considered for the analysis








2024 GROHE-Hurun India Real Estate 100 Companies that Went Public 

Five companies from the 2024 GROHE-Hurun India Real Estate List 100 went public this year. Juniper Hotels had the highest market cap on its listing date at INR 8,933 crore, with a listing gain of 10%, while Signature Global achieved a 15.32% listing gain with INR 6,712 Cr market cap.

Rank Company Subscription times (X) Listing Gain City HQ Market Cap on Listing day

1 Juniper Hotels 2.18x 10% Mumbai 8,933

2 Signature Global 12.50x 15.32% Gurugram 6,712

3 Samhi Hotels 5.57x 7% Gurugram 3,126

4 Awfis Space Solutions 108.17x 12.86% New Delhi 2,797

5 Suraj Estate 16.57x -4.5% Mumbai 1,466

Table 21: Companies that got listed from the 2024 GROHE-Hurun India Real Estate 100                    Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100

Interesting Facts

Macrotech Developers aims to invest INR 3,500-4,000 Cr this fiscal year in acquiring new land parcels and developing housing projects, seizing the opportunity presented by increased demand for residential properties.

Indian Hotels Company (IHCL) has signed Taj branded hotels in Kanpur, Uttar Pradesh, and Anjuna, North Goa. Both are greenfield projects, expanding IHCL's footprint in these critical locations.

Adani Realty has secured the contract to redevelop the 24-acre Bandra Reclamation land parcel put up by the Maharashtra State Road Transport Corporation (MSRDC)

Prestige Estates Projects has approved a USD 599 Mn fundraise through a stake sale. It intends to raise INR 50 Bn (USD 598.6 Mn) by issuing shares to institutional investors.

K Raheja Corp is set to transform a 2.5-acre land parcel in Mumbai’s Worli into a high-end residential project expected to generate revenue surpassing INR 2,000 Cr.

The Phoenix Mills plans to build a third mall in Thane within the Mumbai Metropolitan Region (MMR), alongside a potential hotel. Additionally, it is looking to expand its Phoenix Market City Mall in Bengaluru.

Kalpataru Projects International (KPIL) and its subsidiaries have secured orders worth INR 23.33 Bn across various sectors, such as transmission and distribution (T&D) and water management, both domestically and internationally.

Brigade Enterprises has launched 'Brigade Insignia,' a new residential project in Yelahanka, Bengaluru, with an anticipated revenue of INR 1,100 Cr. The project offers 379 units priced between INR 3 Cr and INR 9 Cr, catering to robust demand in the residential sector.

L&T Realty has signed a joint development agreement (JDA) for a slum rehabilitation project in Thane, near Mumbai. The project aims to develop 31.25 lakh sq ft, valued at INR 697 Cr.

The Runwal Group has launched Sky Deck Residences as part of its Runwal Pinnacle project. These residences, situated on the upper floors of the 67-level tower, feature private decks with panoramic views of the city skyline, Sanjay Gandhi National Park, and mangroves. They enhance the residents' lifestyle with elevated living experiences.

Signature Global India announced that its wholly owned subsidiary, Sternal Buildcon, has completed the acquisition of approximately 3.8 acres of land located at Sector 37D, Dwarka Expressway, Village Harsaru Gurugram, through a sale deed.

M3M India, a real estate company based in Gurgaon, has secured INR 570 Cr in debt from Oaktree Capital Management to support its ongoing projects.

D B Realty raised INR 920 Cr by selling shares to institutional investors, including Morgan Stanley Asia, to fund its real estate projects and strengthen its balance sheet, providing the company with additional growth capital for its ongoing projects.

Shriram Properties, based in Bengaluru, has signed a joint development agreement (JDA) for a 4-acre land parcel in Yelahanka. The project will include 270 apartments covering 3.8 lakh square feet, targeting over INR 250 Cr in revenue, and is expected to be completed in 3 years.

Casagrand has announced the launch of Casagrand Vivacity, a luxury residential project in Bangalore's Electronic City. Spread across 10.2 acres, it features 717 premium 2, 3, and 4-BHK apartments with over 75 amenities.


Methodology

The 2024 GROHE-Hurun India Real Estate 100 ranks the 100 most valuable real estate companies headquartered in India as of 31st May 2024. This list offers a comprehensive overview of the leading firms shaping the Indian real estate landscape based on the value of the enterprise rather than the net worth of the individual founder or entrepreneur.


Valuing private companies is as much an art as it is a science. Hurun India may have missed some companies, but our endeavour is to develop the most comprehensive report of its kind with an objective to identify and acknowledge India’s top real estate businesses. Hurun Report’s team of researchers have travelled the length and breadth of the country, cross-checking information with entrepreneurs, industry experts, journalists, bankers and other sources of publicly available data.

For unlisted companies, Hurun Research’s valuation is based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to sales, EV to EBITDA. Other methodologies such as Discounted Cash Flow and Tobin’s Q are also used. Financial information used is from the latest available annual reports or audited financial statements.


Hurun Report Disclaimer

This report has been prepared by the Hurun Report. All the data collection and the research has been done by the Hurun Report. This report is meant for information purposes only. Reasonable care and caution have been taken in preparing this report. The information contained in this report has been obtained from sources that are considered reliable. By accessing and/or using any part of the report, the user accepts this disclaimer and exclusion of liability which operates to the benefit of Hurun Report. Hurun Report does not guarantee the accuracy, adequacy or completeness of any information contained in the report and neither shall it be responsible for any errors or omissions in or for the results obtained from the use of such information. No third party whose information is referenced in this report under the credit to it assumes any liability towards the user with respect to its information. Hurun Report shall not be liable for any decisions made by the user based on this report (including those of investment or divestiture) and the user takes full responsibility for their decisions made based on this report. Hurun Report shall not be liable to any user of this report (and expressly disclaim liability) for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential losses, loss of profit, lost business and economic loss regardless of the cause or form of action and regardless of whether or not any such loss could have been foreseen.



2024 GROHE-HURUN India Real Estate 100 – TOP 20: For the full list, refer 

www.hurunindia.com


Rank Company Value 2024 (INR Cr) Change % Key Leader City of HQ Primary Sector

1 DLF 202,140 72% Devinder Singh Gurugram Commercial

2 Macrotech Developers 136,730 160% Abhishek Lodha Mumbai Residential

3 Indian Hotels Company 79,150 43% Puneet Chhatwal Mumbai Hospitality

4 Godrej Properties 77,280 100% Gaurav Pandey Mumbai Residential

5 Oberoi Realty 66,200 96% Vikas Oberoi Mumbai Residential

6 Prestige Estates Projects 63,980 230% Irfan Razack Bengaluru Residential

7 Adani Realty 56,500 62% Jackbastian K. Nazareth Ahmedabad Residential

8 The Phoenix Mills 55,740 112% Shishir Ashok Shrivastava Mumbai Commercial

9 K Raheja Group 55,300 65% Vinod Rohira Mumbai Commercial

10 Embassy Office Parks 33,150 14% Aravind Miaya Bengaluru Commercial

11 Aparna Constructions & Estates 33,130 24% Subramanyam Freddy Snared Hyderabad Residential

12 Hiranandani Communities 30,000 25% Niranjan Hiranandani Mumbai Residential

13 Brigade Enterprises 29,690 129% Pavitra Shankar Bengaluru Commercial

14 Oberoi Group 28,430 103% Arjun Singh Oberoi New Delhi Hospitality

15 Gaursons India 24,950 114% Manoj Gaur Ghaziabad Residential

16 Bagmane Developers 20,050 3% Raja Bagmane Bengaluru Commercial

17 L&T Realty 18,620 116% Anupam Kumar Mumbai Residential

18 Anant Raj 18,120 304% Amit Sarin New Delhi Residential

19 Sobha 18,050 266% Jagadish Nangineni Bengaluru Residential

20 NCC 18,040 141% A A V Ranga Raju Hyderabad Residential

Source: Hurun Research Institute; 2024 GROHE-HURUN INDIA REAL ESTATE 100


About GROHE 


GROHE is a leading global brand for complete bathroom solutions and kitchen fittings. Since 2014 GROHE has been part of the strong brand portfolio of LIXIL, a manufacturer of pioneering water and housing products. In order to offer “Pure Freude an Wasser”, every product is based on the brand values of quality, technology, design and sustainability. 

 

The brand offers life-enhancing product solutions as well as services with its dedicated portfolios GROHE QuickFix, GROHE Professional and its premium sub-brand GROHE SPA. All cater to the specific needs of GROHE’s professional business partners and their differentiated target groups. 

 

With water at the core of its business, the brand contributes to LIXIL’s Impact Strategy with a resource-saving value chain: from CO2-neutral* production, the removal of unnecessary plastic in the product packaging, all the way to water- and energy-saving product technologies such as GROHE Everstream, a water-recirculating shower. 

  

*includes CO2 compensation projects, more on grohe-x.com/sustainability 



About Hurun Inc. 

Promoting Entrepreneurship Through Lists and Research

Oxford, Shanghai, Mumbai, Sydney, Paris

Established in the UK in 1999, Hurun is a research, media and investments group, promoting entrepreneurship through its lists and research. Widely regarded as an opinion-leader in the world of business, Hurun generated 8 billion views on the Hurun brand last year, mainly in India and China. Best-known today for the Hurun Rich Index series, telling the stories of the world’s successful entrepreneurs in China, India and the world, Hurun’s two other key series include the Hurun Start-up series and the Hurun 500 series, a ranking of the world’s most valuable companies. 

The Hurun Start-up series begins with the Hurun U30s, recognizing the most successful entrepreneurs under the age of thirty, and is today in seven countries. Next up are Hurun Cheetahs, Chinese and Indian start-ups with a valuation of between US$300mn to US$500mn, most likely to go unicorn with five years. Hurun Global Gazelles recognize start-ups with a valuation of US$500mn to US$1bn, most likely to go unicorn within three years. The culmination of the start-up series is the Hurun Global Unicorn Index. 

Other lists include the Hurun Philanthropy Index, ranking the biggest philanthropists, the Hurun Art Index, ranking the world’s most successful artists alive today. 

Hurun provides research reports co-branded with some of the world’s leading financial institutions, real estate developers and regional governments. 

Hurun hosted high-profile events in the last couple of years across China and India, as well as London, Paris, New York, LA, Sydney, Luxembourg, Istanbul, Dubai and Singapore.




About Hurun India

“Promoting Entrepreneurship Through Lists and Research”

About Hurun India “Promoting Entrepreneurship Through Lists and Research” Hurun India was launched in 2012, under the leadership of Anas Rahman Junaid, a graduate of the University of Oxford. Junaid met Rupert Hoogewerf, the founder of Hurun Global, through Oxford University and the duo thought it was the right time to speak about wealth creation in India as they saw India booming. Since then, Hurun India has been in pursuit to celebrate the stories of India’s transparent wealth creation, innovation, and philanthropy. The Five core pillars of Hurun India are:


First, we spotlight Value Creation by companies, the heartbeat of a developing India. It's through their innovation and excellence that economic growth is fuelled, paving the way for a prosperous tomorrow. 

Next, we focus on Wealth Creation. As these companies thrive, wealth is generated, birthing a new era of affluent entrepreneurs and businesses. This wealth is not just financial; it's a wealth of knowledge, experience, and opportunity, essential for India's next 10-15 years. For exponential growth, disruption is key. 

Enter our third pillar: Start-Ups. These engines of innovation are the primary source of leapfrog growth, challenging the status quo and opening new doors of possibilities. While economic development is crucial, philanthropy plays an equally vital role in ensuring wider prosperity. 

Our fourth pillar, Philanthropy, is about giving back, creating a balanced ecosystem where everyone progresses together. 

Lastly, we celebrate our rich heritage with the fifth pillar: Culture. India, home to one of the oldest civilizations, boasts a myriad of artists. Yet, they remain undervalued on the global stage. The Hurun India Art List aims to change this, promoting our artists to the Hurun network, encouraging appreciation and collection of their work.

For the full details, please refer to www.hurunindia.com





Wednesday, July 10, 2024

IndiaFirst Life Strengthens Its Leadership with Two Industry Veterans Varun Gupta joins as President & CDO – Bancassurance and Sumeet Sahni joins as President & CDO – Agency & Alliances


Mumbai, 10 July 2024: IndiaFirst Life Insurance Company Ltd (IndiaFirst Life) announced the appointment of Varun Gupta as President & Chief Distribution Officer (CDO) – Bancassurance and of Sumeet Sahni as President & Chief Distribution Officer (CDO) – Agency & Alliances. The new appointments are part of the company's strategy to further strengthen its distribution network in line with its growth plans.

 

Rushabh Gandhi, MD & CEO, IndiaFirst Life, said, "We are delighted to welcome Varun and Sumeet to our core leadership team. Their experience and expertise in building and managing robust distribution networks will be instrumental in driving our strategic growth initiatives. Varun and Sumeet’s dynamism in building sustainable and value-driven business, aligns well with IndiaFirst Life’s #PeopleFirst and #CustomerFirst ideologies. I am confident that their contributions will be pivotal in our journey towards becoming a leading life insurance provider in India."

 

 

 

 

Varun Gupta comes with 27+ years of experience in building businesses with strong fundamentals. He was previously associated with Max Life Insurance for more than 23 years in key leadership roles. Varun has over the years created and inspired high performing teams and led change & distribution transformation at scale. In his new role, Varun will be responsible for spearheading IndiaFirst Life’s Bancassurance partnerships and fostering new relationships to grow a strong distribution network.

 

 

 

Sumeet Sahni brings 26+ years of overall experience and is a veteran in the life insurance industry. He was previously associated with organisations like Aditya Birla Sun Life Insurance, ICICI Prudential Life Insurance, and Max Life Insurance. Sumeet has a proven track record of building and scaling up agency and partnership channels, driving business growth and profitability, and leading large and diverse teams. In his new role, Sumeet will be responsible for building the Agency & Alliances channel at IndiaFirst Life.

 

With a strong leadership team in place, IndiaFirst Life is poised for continued success and growth.

 

About IndiaFirst Life Insurance Company Ltd: Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited (IndiaFirst Life), with a paid-up share capital of INR 754 crores, is one of the country's youngest life insurance companies. Its current shareholders include Bank of Baroda, Union Bank of India, and Carmel Point Investments India Private Limited, which hold 65%, 09%, and 26% stakes in the company. Carmel Point Investments India Pvt Ltd. is incorporated by Carmel Point Investment Ltd, a body corporate incorporated under the laws of Mauritius and owned by private equity funds managed by Warburg Pincus LLC, New York, United States. The company’s key differentiator is its simple, easy-to-understand products that are fairly-priced and efficiently serviced. For details, please visit https://www.indiafirstlife.com/

 

REC Limited avails green loan facility of JPY 31.96 Billion (USD 200 Million) from Deutsche Bank AG, Gift City Branch

Gurugram, 10 July 2024 – In a significant step towards sustainable development in India, REC Limited, a leader in the Indian power sector, has successfully availed a green loan of JPY 31.96 Billion (equivalent to USD 200 million) to finance eligible green projects in India. This strategic investment reinforces REC’s commitment to foster sustainable growth, in alignment with the Company’s Green Finance Framework.  

This green facility is a first of its kind successful collaboration between an Indian government entity and Deutsche Bank AG, GIFT City branch. This facility sets a benchmark in the Indian public sector landscape for similar green financing transactions, highlighting a growing commitment to sustainable financing. The facility also marks one of the first JPY-denominated green loan transaction for Deutsche Bank AG, GIFT City.

This facility demonstrates dedication of REC Limited and its partners for supporting projects that meet rigorous environmental standards, promote renewable energy and contribute to reducing carbon emissions throughout India. Additionally, it also reflects the growing momentum towards green financing and the collective efforts of stakeholders to address environmental challenges.

Commenting on this occasion, Mr. Vivek Kumar Dewangan, IAS, CMD, REC said, “This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India. This benchmark transaction is anticipated to pave way for more such collaborations in future which can help in achieving nation’s goals in green space financing.”

Mr Kaushik Shaparia, CEO, Deutsche Bank Group, India said, “Our collaboration with REC underscores our steadfast commitment to advancing environmentally responsible initiatives and promoting sustainable financing within India. This transaction reinforces Deutsche Bank’s expertise in green financing, demonstrating our ability to support clients in their transformation towards a carbon-free future.”

About REC Limited:

REC is a 'Maharatna' company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country.

REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). It is also designated as the National Programme Implementation Agency (NPIA) for “PM Surya Ghar: Muft Bijli Yojana” with aim to increase the share of solar rooftop capacity and empower residential households to generate their own electricity. The loan book of REC stands at ₹ 5.09 lakh crore and Net Worth at Rs. ₹ 68,783 crore as on 31 March, 2024.

 

About Deutsche Bank

Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. The bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.

The Deutsche Bank group has been operating in India since 1980 with a strong presence in the businesses of corporate and investment banking, retail banking, private wealth management and global business services. With more than 21000 staff and operations across 18 locations in India, the group is recognised as one of the leading foreign financial service providers in India.