First Generation Entrepreneurs Dominate The List Of The Richest People In Realty Sector In India Around 59 per cent of the richest people in the real estate sector in India are first-generation entrepreneurs according to GROHE Hurun India Real Estate Rich List 2019

By Tahira Noor Khan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock.com

Mangat Prabhat Lodha of the Macrotech Developers is the richest real estate magnate in India with the wealth of INR 31,960 crore, according to the report. DLF's Vice Chairman Rajiv Singh with INR 25,080 crore came second and Embassy group founder Jitendra Virwani with INR 24,750 crore secured the third spot.

According to the report, the average wealth of Indian realtors has increased by 16 per cent.

"In a year, when the Indian real estate by and large faced multiple challenges – from slowdown to funds crunch to spotty demand – the average wealth of top 100 richest Indians from the sector increased by 16 per cent to INR 2,743 crore," reads the report.

Mumbai, Delhi and Bangalore lead the list

The report states that 75 per cent or 3/4th of the richest Indians from the real estate sector are from Mumbai, Delhi and Bangalore. Mumbai has 37 names in the list followed by Delhi and Bangalore, each having 19 names respectively. Mumbai also brags of having six of the top 10 richest realtors from its city.

The report has a mere eight women on the list, depicting the dismal state of representation of women in the reality sector. Smita V Crishna of Godrej Properties with a wealth of INR 3,560 crore secured the 14th position and is the richest woman in the list.

The youngest people to make it to the list are Jupally Ramu Rao and Jupally Shyam Rao (33) of My Home Constructions with INR 740 crore wealth. Prithvi Raj Singh Oberoi (90) of East India Hotels with the wealth of INR 3,670 crore is the eldest. The average age of people on the list is 59.

Commercial retail outperforms private realty

According to the report, private equity investments into residential space registered a decline of 25 per cent whereas investment into commercial and retail segments registered a growth of almost 20 per cent.

DLF is leading the commercial segment of the real estate market in India, followed by Embassy which has an exclusive presence in this sector.

GROHE Hurun India Real Estate Rich List 2019 report is based on a snapshot of wealth till September 30. The report has taken market value to determine the wealth for listed companies while for unlisted companies, the latest financial statement was taken into account.

Tahira Noor Khan

Former Junior Features Writer

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Technology

TCS Q1 Profit up 6%, Revenue Down 3.1% on Delayed Client Decision Making

Operating margins for the June quarter narrowed to 24.5 per cent from 24.7 per cent in the corresponding quarter of the previous year but expanded 30 basis points from 24.2 per cent in preceding three months.

News and Trends

India Accelerator Launches Two Flagship Programs to Build Future Startup Leaders

These flagship programs are tailored to cultivate entrepreneurial and venture capital talent—nurturing the builders, operators, and investors who will shape the next wave of Indian innovation.

Health & Wellness

How Do You Build Culture Working Fully Remote? Start By Trying This One Thing.

Get practical advice from Dr. Drew and serial investor Kim Perell on this episode of Entrepreneur Therapy, featuring HigherDOSE co-founder Katie Kaps.

News and Trends

Uravu Labs Raises Fresh Funding from ENRISSION INDIA CAPITAL

The funds will be used to scale operations, expand commercial deployments, and drive innovation in climate-resilient water infrastructure.