2nd edition AsiaOne lists top 50 most influential real estate brands and leaders 2021-22

December 29, 2022 23:40 IST | ANI Press Release
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2nd edition AsiaOne lists top 50 most influential real estate brands and leaders 2021-22

New Delhi [India], December 29 (ANI/GPRC): AsiaOne is an international media house and the only business and news magazine with a pan-Asia presence. They are the pioneers, and now experts, of the research-based, annual listing of brands and leaders in Asia, Africa and the GCC. Their listing is supplemented with national and international business and social summits and awards functions.

As India progresses to become the world's third-largest economy by 2028, AsiaOne continues to bring out its varied research titles and awards to represent the milestones in the country's journey to success. Through its annual research titles, AsiaOne brings to light those eminent leaders and brands that have not only been contributing to the Indian economy, but also to society and world at large.

Indian Realty Sector Shines Bright

The year 2021-22 proved to be a glorious year for the real estate sector in India. The property market managed to recover from the pandemic-induced crisis because of record-low interest rates, lower stamp duties, a decline in realty prices, and launch schemes by various builders.

In terms of residential real estate, top seven cities of India --- Delhi NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Hyderabad, Chennai and Kolkata --- saw new supply of approximately 2.36 lakh units in entire 2021, against approximately 1.28 lakh units in 2020 --- a significant jump of 85 per cent and equivalent to 2019 levels. Key cities contributing to 2021 new unit launches included MMR, Hyderabad, Pune and NCR, altogether accounting for 76 per cent of addition. The cities also fared well in terms of housing sales, witnessing a massive jump of 71 per cent. Approximately 2.36 lakh units were sold in the entire 2021 as against 1.38 lakh units in the preceding year. MMR saw maximum annual sales of approximately 76,400 units, followed by NCR with 40,050 units. On a quarterly basis, home sales reached an all time high in the October-December 2021 quarter, which broke the record of 28 quarters. The massive jump in sales was credited to positive consumer sentiments towards home buying, all-time low home loan rates, and anticipation of price increase in future.

AsiaOne List of Top 50 Real Estate Brands and Leaders 2022-23 by Wealth

AsiaOne List of Top 50 Real Estate Brands and Leaders 2022-23 by Wealth is based on the valuation of top real estate brands and leaders. The list is the result of AsiaOne's annual endeavour to identify India's top real estate frontrunners and to gauge the value of their holdings. The current list includes the rise and fall in assets from last year.

AsiaOne, together with URS' esteemed jury, has concluded the names in the list based on primary and secondary research. Total assets value and declared net worth by the leaders and the companies in notable forums and platforms have been considered. In its research, the team also considered the latest financial reports to reach at the valuation. While the AsiaOne List of Top 50 Real Estate Brands and Leaders 2022-23 by Wealth has compiled the valuation of real estate business owned by the leaders, it does not include the personal liabilities or debts of the leaders for calculating the net worth. To estimate the values, a comparative analysis and valuation have been done considering the last few years of business performances and transactions of the company and the leader in some cases.

Pan India Findings

The first rank in the list belongs to Rajiv Singh, 62, of DLF (Delhi Land & Finance) Ltd., who has a wealth of Rs 52,503.4 crore, rising 24.5 per cent from last year. Founded in 1946 by Chaudhary Raghvendra Singh, DLF started with the creation of 22 urban colonies in Delhi. The second spot has been retained by Mumbai's Mangal Prabhat Lodha, 66, and Family. The promoters of Macrotech Developers have assets worth Rs 37,578 crores, with a 17.5 per cent rise year-on-year. The company has a significant presence in India, Dubai, the United Kingdom, Singapore and the United States. Jitu Virwani, 56, Chairman, Embassy Office Parks, has climbed to the third spot from last year's sixth in the list. The outstanding achiever of 2021-22 has taken his wealth to Rs. 33308.36 -an outstanding rise of 71.5 per cent from the previous year. The realty group has a mixed portfolio of more than 62 million square feet developed across India and a roster of multinational tenants such as Google, IBM and Warburg Pincus. The company accords paramount importance to ensuring the safety, health and well-being and business continuity of its customers, and is committed to global sustainability goals. Many of its parks are ISO certified and properties are Platinum or Gold certified green structures. The company, together with US private equity firm Blackstone, listed India's first-ever real estate investment trust (REIT) in March 2019. The REIT owns and operates a more than 42 million square feet portfolio of office parks and office buildings in cities such as Bengaluru and Mumbai. It is the largest office REIT in Asia by area.


The commercial capital of India, Mumbai was once India's trade window to the west. It steadily evolved into a global financial hub and became home of India's main financial services. The city is also home to the richest people in India - a good driver of high property rates across the city and nearby areas. The frontrunner in the Mumbai realty market, Mangal Prabhat Lodha, the Founder of Macrotech Developers Limited (https://www.lodhagroup.in/about) Lodha Group, has retained the first spot in the list as the richest player in the city and the second best in India. The property magnate and politician has assets valued Rs 37,578 crore - 17.5 per cent higher than last year's Rs 31,968 crores. Chandru L Raheja, 81, Chairman and Managing Director,(https://www.krahejacorp.com) K. Raheja Corp, is the second richest man in Mumbai's real estate market. The senior leader has assets valued at Rs 28,543.20 crore. While the leader has seen a rise of 35.9 per cent in his assets from last year's Rs 21,000 crore, he has lost one rank to become the fourth richest realty player in the country.

Delhi NCR

The capital of India, Delhi is an important political, commercial, transport and cultural hub of the country. Its gross state domestic product contribution to national gross domestic product in 2022 was reported at (https://www.ceicdata.com/en/india/memo-items-state-economy-gross-state-domestic-product-contribution-national-gross-domestic-product/gross-state-domestic-product-contribution-to-national-gross-domestic-product-delhi) 3.904 Per cent. The state's Gross State Domestic Product increased at a CAGR of (https://www.ibef.org/states/delhi-presentation) 8.89 per cent between 2015-16 and 2021-22. In 2021-22, Delhi's GDP on current prices stood at (https://www.business-standard.com/article/current-affairs/delhi-s-gdp-up-50-since-2016-17-lg-anil-baijal-in-address-to-assembly-122032301321_1.html) Rs 9,23,967 crores - rising 50 per cent in the last five years, from Rs 6,16,085 crore in 2016-17. One of the largest metropolises in the country, Delhi, together with the (https://ncrpb.nic.in/ncrconstituent.html). National Capital Region (NCR), holds an important position in the Indian economy. Rajiv Singh, 62, Chairman, DLF Limited, continues to lead the real estate market in India with assets worth Rs 52,503.4 crores as on March 31, 2022. His assets have appreciated by 24.5 per cent from 2021-22. Starting its operations in 1946 with the creation of 22 urban colonies in Delhi, in 1985, the company expanded into the then-unknown region of Gurugram, building remarkable living and office spaces for the new Indian global professionals. Ranking second in the list is Navin M Raheja, the Chairman and Managing Director of Raheja Developers. The business leader encompasses Rs 25,742.72 in assets, with an impressive jump of 76.3 per cent from the previous financial year.


The IT Capital of India, Bengaluru (earlier Bangalore), is the country's leading information technology (IT) exporter and address of eminent technological organizations such as ISRO, Infosys, Wipro and HAL. With an average literacy rate of 87.67 percent, pleasant weather throughout the year -- thanks to its elevation of over 900 m above sea level -- and quality of life, Bengaluru is a preferred city for one to live and work. The city also topped the latest (https://pib.gov.in/PressReleseDetail.aspx?PRID=1702417) Ease of Living Index. (https://www.embassyindia.com/meet-the-team) Jitu Virwani, 56, the Chairman and Managing Director of Embassy Group, is the richest among the real estate developers in Bengaluru, with assets of Rs 33,308.36 crores as on March 31, 2022, with a percentage increase of 71.5. (https://www.prestigeconstructions.com/about-us-overview/irfan-razack) Irfan Razack, the Chairman and Managing Director of Prestige Estate Projects Limited is the second richest real estate leader in Bengaluru with total assets of Rs 17,280.70.


Chennai is the capital city of India's most industralised state Tamil Nadu. From an ancient trade centre to being the largest industrial and commercial centre of South India, Chennai has been serving businesses in and out of the country for centuries. With a literacy rate of over 80 per cent , Chennai makes talent searching an easier process, helping both businesses and employees to settle down in the city. The development made in the areas of infrastructure and connectivity has also fuelled the real estate sector's growth in the city.(https://www.urbanrise.in/about-us) Manoj Namburu, CMD, (https://www.alliancein.com/about) Alliance Group & (https://www.urbanrise.in/about-us) Urbanrise, is the frontrunner in Chennai's realty industry. With an impressive rise of 51.7 per cent from last year, the young and ambitious leader has recorded a wealth of Rs 3,300 crore. The company, with operations in Bengaluru, Chennai and Hyderabad, is renowned for building homes in premium locations that truly add value to home buyers. As forecasted last year, the promoters of Alliance Group & Urbanrise have added to their rich portfolio with quality projects and timely delivery. With more projects lined up and the company chasing its vision to become world's largest real estate developer with annual revenues of $10 billion by 2035, the real estate major is indeed to watch out for not only its leaders' net worths, but also millions of happy customers. With a current wealth of Rs 3,200 crore and a rise of 48.8 per cent , the Bommireddy Family (Suneel, Suresh and Surendra) holds the second spot in the list of Chennai's top real estate developers.(https://www.urbanrise.in/about-us) Suneel Bommireddy, the Vice Chairman of (https://www.alliancein.com/about) Alliance Group & (https://www.urbanrise.in/about-us) Urbanrise, is a serial entrepreneur with several successful business enterprises to his credit. The 49-year-old is a civil engineer by education and strategist by experience; he has conceived and developed several mega real estate developments across the golden triangle of Bengaluru, Chennai and Hyderabad. Mr. Bommireddy has closed funding deals worth over Rs 2,000 crores as on date with various marquee equity firms across the globe, namely Abu Dhabi Investment Authority (ADIA), Kotak Realty Fund, IndoStar, Reliance Capital, Westport Capital and many more.


The historic city of Hyderabad is the capital of India's youngest state, (https://ecostat.telangana.gov.in/PDF/PUBLICATIONS/State_Domestic_Product_2020_21(PE).pdf) Telangana, which has achieved the highest annual average growth in GSDP amongst all Southern states, at 11.7 per cent, post 2014-15. Popularly called the Pearl City, Hyderabad is situated on the Deccan Plateau at a height of 1788 feet above sea level and offers pleasant weather conditions. With a cosmopolitan culture, it is a hub for the IT, ITeS, pharmaceuticals and cloud solution companies. All the factors empower the city to be a great real estate investment and spending. (https://www.mahacement.com/about-us/our-management) Rameswar Rao Jupally, 65, rules the Hyderabad real estate market with total assets of Rs 7,966 crores. A homeopathy doctor by education, the Chairman of My Home Industries has registered a 9.1 per cent jump in his wealth from the previous year, while maintaining his rank of 13th richest real estate leader in India. SS Reddy, 68, Chairman and Managing Director, (https://www.aparnaconstructions.com/completed-projects) Aparna Constructions, is the second richest real estate leader in Hyderabad, with assets of Rs 6,966.96 crore. His wealth is 34 per cent higher than the last year. Set up in 1996, the company pioneered innovation in gated communities.


A comprehensive indicator of India's top-performing real estate brands and leaders, India's Most Influential Real Estate Brands & Leaders 2021-22 List by AsiaOne weighs up the realty companies at national and regional level. The list brings to fore not only some of the best performers in the real estate sector, but also highlights the emerging brands and leaders, who are performing exceptionally well and may tomorrow lead India's realty club. An example here is the duo of Manoj Namburu and Suneel Bommireddy of Alliance Group & Urbanrise, who continue to rise in the ranks in the industry, from 33 and 34 last year to 27 and 28 this year, respectively. With a remarkable presence in Chennai and Hyderabad, these bullish developers have more projects lined up to maintain the momentum in the years to come.

Two developers from Delhi NCR have made entry to the list for the first time. Ajay Choudhary of Ace Group India (with wealth of Rs 1279.37 crores), and Sunil Kant Munjal from Hero Realty (with Rs 505 crores) are the players to watch out for.

Log in to (https://asiaone.co.in/wp-content/uploads/2022/12/Real-Estate-Report-2022-Copy.pdf) (asiaone.co.in) to access the complete report.

This story is provided by GPRC. ANI will not be responsible in any way for the content of this article. (ANI/GPRC)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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