MUMBAI: Six of the 10 most valuable Indian real estate companies are based in Mumbai, which continues to be the country’s real estate capital, according to the GROHE-Hurun India Real Estate 100 report released on Thursday.

The cumulative valuation of 33 Mumbai-based real estate companies is over Rs 6.4 lakh crore followed by Bengaluru with 15 companies (Rs 2.1 lakh crore) and New Delhi (14 companies with cumulative valuation of Rs 87,460 crore).
Gurugram-based DLF emerged as the top real estate company with a valuation of Rs 2,02,140 crore, followed by Mumbai’s Macrotech Developers (Lodha Group) with a valuation of Rs 1,36,730 crore.
Indian Hotels Company (Taj Group), headquartered in Mumbai, ranks third with a valuation of Rs 79,150 crore.
“Among the top ten companies, 60% are headquartered in Mumbai, while two are based in Bengaluru and one each in Gurugram and Ahmedabad,” said the report.
With a valuation of Rs 77,280 crore, Godrej Properties, a subsidiary of Godrej Group, ranks fourth in the 2024 report.
Mumbai-based Oberoi Realty secured the fifth spot with a valuation of Rs 66,200 crore while Prestige Group from Bengaluru was ranked sixth with a valuation of Rs 63,980 crore.
Adani Realty, part of the Adani Group (Ahmedabad), ranks seventh with a valuation of Rs 56,500 crore. The Phoenix Mills and K Raheja Corp, both from Mumbai, are eighth and ninth on the list while Embassy Office Parks (Bengaluru) is ranked 10th.
“An impressive 86% of the companies in this year’s list saw their values increase, collectively adding Rs 6.2 lakh crore, showcasing the robust growth and dynamic recovery of the sector,” said Anas Rahman Junaid, founder and chief researcher, Hurun India.
Among the wealthiest Indian property developers, Rajiv Singh from DLF is the richest with a wealth of Rs 1,24,420 crore, according to the report 2024 GROHE-Hurun India Real Estate Rich. Ranked second on this list is Mangal Prabhat Lodha from Macrotech Developers with Rs 91,700 crore. Gautam Adani and family from Adani Realty are at the third spot with Rs 56,500 crore.
Of the top 10 on the real estate rich list, five are from Bengaluru and four from Mumbai. Vikas Oberoi, C L Raheja and family, and Atul Ruia (all from Mumbai) are ranked fourth, fifth and sixth on the rich list.
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 sq ft, respectively.