Burgundy Private & Hurun India Launch List Of 500 Most Valuable Private Companies In India
These companies are ranked according to their value, defined as market capitalization for listed companies and valuations for non-listed companies
Burgundy Private, Axis Bank’s Private Banking Business and Hurun India, launched the first edition of the ‘2021 Burgundy Private Hurun India 500’, a list of the 500 most valuable companies in India.
These companies are ranked according to their value, defined as market capitalization for listed companies and valuations for non-listed companies, said a statement.
To make it to the ‘2021 Burgundy Private Hurun India 500 list', companies need to have a minimum value of INR 5,600 crore, equivalent to $750 million.
“Burgundy Private is delighted to partner with Hurun India in celebrating India’s 500 most valuable companies. We salute the leadership of these companies who have ably steered their businesses through the ravages of the pandemic, adopting new ways of serving their customers and emerging as winners. As India’s leading wealth management franchise, Burgundy Private has witnessed this value creation from close quarters,” said Amitabh Chaudhry, managing director and chief executive officer of Axis Bank.
The total value of the 2021 Burgundy Private Hurun India 500 companies is close to INR 228 lakh crore which is higher than India’s GDP for FY21. The topline of these 500 companies is equivalent to 29 per cent of India’s GDP and they employ up to 1.5 per cent of the total workforce of the country. Nearly 10 per cent of these companies are younger than 10 years, representing India’s vibrant tech ecosystem, said the statement.
“The report also throws insights on the economic winners and losers of Covid-19. The 2021 Burgundy Private Hurun India 500 saw their value go up 68 per cent, or a massive INR 90 lakh crore, to a total of INR 228 lakh crore. Half of that came from companies based in Maharashtra. INR 46 lakh crore came from just four companies, the so-called ‘India’s Big Four’ or Reliance Industries, Tata Consultancy Services, HDFCBank and Infosys. As many as 14 Tata group companies added INR 8.5 lakh crore,” said Anas Rahman Junaid MD and chief researcher of Hurun India.
Hurun Report is a leading research, luxury publishing and events group established in London in 1998 with presence in India, China, France, UK, USA, Australia, Japan, Canada and Luxembourg. It is widely recognized world-over for its comprehensive evaluation of the wealthiest individuals across the globe. Hurun Report is the largest compiler of the rich list globally, added the statement.