Jitendra Virwani, chairman and managing director, Embassy Group, Fourth richest developer in the country (wealth Rs 23,220 crore)
Covid What? Top 100 in Grohe Hurun India Real Estate Rich List 100 added 26 per cent to their wealth in pandemic year
Among Bengalureans, Virwani is fourth in list (wealth Rs 23, 220 crore), followed by Raja Bagmane of Bagmane Developers (Rs 15,590 crore) at seventh place, while Bijay Kumar Agarwal & family of Sattva Developers (Rs 4,170 crore) is at the 22nd spot
BENGALURU:
Despite the pandemic-induced plunge in realisations, the number of new ‘rupee’ billionaires in the realty world has continued to swell, adding eight new entrants to the list of Hurun India’s 100 richest realty developers.
According to the Grohe Hurun India Real Estate Rich List, released on Tuesday, around 20 Bengalureans have booked their slots in the top 100 rich list.
The list has been topped by developer and senior BJP leader Mangal Prabhat Lodha of Macrotech Developers for the fourth year in a row.
Hurun Report today released the 4th edition of the GROHE Hurun Real Estate Rich List.
— HURUN INDIA (@HurunReportInd) March 23, 2021
As the future of Indian real estate looks bright, Hurun India and GROHE are immensely proud to track this data at the beginning of a promising and exponential growth. Here are the Top pic.twitter.com/neH8VcaGKi
Virvani is 4th overall
At the fourth slot is Jitendra Virwani of Embassy Office Parks, Bengaluru, with a wealth of Rs 23,220 crore, followed by Niranjan Hiranandani of Hiranandani Communities, Mumbai with Rs 20,600 crore, Vikas Oberoi of Oberoi Realty, Mumbai (Rs 15,770 crore), and Raja Bagmane of Bagmane Developers, Bengaluru (Rs 15,590 crore).
Bijay Kumar Agarwal of Sattva Developers was the fastest riser in the 2020 list, which has also seen three of them under 40 and four above 80 entering the list in 2020.
Bengalureans in the Rich List
Rank 4: Jitendra Virwani (wealth Rs 23,220 crore, Embassy Office Parks)
Rank 7: Raja Bagmane (wealth Rs 15,590 crore, Bagmane Developers)
Rank 22: Bijay Kumar Agarwal & family (wealth Rs 4,170 crore, Sattva Developers)
Rank 27: A Mohan Raju & family (wealth Rs 3,430 crore, Kalyani Developers)
Rank 28: C Gopalan & family (wealth Rs 3,410 crore, Gopalan Enterprises)
Rank 30: Veeranna Reddy (wealth Rs 3,150 crore, Embassy Office Parks)
Rank 31: Irfan Razack (wealth Rs 2,510 crore, Prestige Estates Projects)
Rank 31: Rezwan Razack (wealth Rs 2,510 crore, Prestige Estates Projects)
Rank 31: Noaman Razack (wealth Rs 2,510 crore, Prestige Estates Projects)
Rank 34: PNC Menon & family (wealth Rs 2,350 crore, Sobha)
Rank 35: MR Jaishankar (wealth Rs 2,230 crore, Brigade Enterprises)
Rank 38: Errol Fernandes (wealth Rs 1,640 crore crore, Ferns Estates & Developers)
Rank 39: Ravi Puravankara (wealth Rs 1,610 crore, Puravankara)
Rank 44: Paul John (wealth Rs 1,200 crore, The Paul Resorts & Hotels)
Rank 47: Satish P Chandra & family (wealth Rs 1,050 crore, Global Tech Park)
Rank 62: Naresh Anirudha Patil & family (wealth 590 crore, Kolte-Patil Developers)
Rank 65: G Madhushudhan & family (wealth Rs 570 crore, Sumadhura Infracon)
Rank 71: Shyama Raju & family (wealth Rs 480 crore, Divyasree Developers)
Rank 82: Bhaskar N Raju (wealth Rs 340 crore, Divyasree Developers)
Rank 88: KV Satish (wealth Rs 290 crore, DS Max Properties)
Mumbai still numero uno
Of the top 100, Mumbai is home to the maximum at 31 entrants, including the largest and the third largest, followed by Delhi and Bengaluru with 22 and 20 entrants. Cumulatively, these 100 builders added a full 26 per cent to their wealth in the pandemic year to Rs 3,48,660 crore.
Mumbai, New Delhi and Bengaluru are home to 73 per cent of the richest 100 developers, 63 per cent of them comprising first-generation entrepreneurs. As many as 65 of them increased their wealth in 2020, of whom 27 are new entrants. On the flip side, 33 per cent saw their wealth fall, leading to 27 drop-offs from the 2019 list.
About the Author
