Grohe-Hurun India RE Rich List 2021 Released
Chennai, Apr 6: Hurun Report today released the GROHE-HURUN India Real Estate Rich List 2021, a ranking of the most successful real estate entrepreneurs, inheritors in India, ranked by net worth proportionate to their ownership in their respective real estate businesses.
This is the 5th year of the ranking and the wealth calculations are a snapshot of December 31, 2021. The List ranked 100 individuals from 71 companies and 14 cities. 81% of the list saw their wealth increase, of which 13 were new faces, 13% saw their wealth decrease, and there were 13 drop-offs.
The average age is 61. Fifth time in a row, GROHE and the Hurun Report have made a serious attempt to understand the real estate entrepreneurs and to highlight their achievements through the rich list as a medium.
The achievement is a testament to their commitment to conceptualizing, designing and building homes and commercial spaces that exemplify the highest standards of living and complement the contemporary ever-evolving lifestyle with every amenity presented to inhabitants on a single platform. Amidst systemic challenges, developers are working tirelessly towards the country’s infrastructural development and fueling the growth of the economy, according to a release here. Despite all the news of a slowdown in the sector, some of the key trends in the list indicate a positive future. For instance, the average wealth in the GROHE-HURUN India Real Estate Rich List 2021 has increased by 30%, to Rs 4,537 crore. The combined wealth of the entrepreneurs on the list grew by 30% compared to 2020 and 81 of them increased wealth, including 13 new additions. Real estate and infrastructure are undoubtedly two of the most significant indicators of an economy.
Hurun India MD and Chief Researcher Anas Rahman Junaid said, “After lying low for the last few years, Indian real estate sector is all set to become one of the biggest growth engines in India. Extraordinary world events such as Covid-19, Ukraine War coupled with inflation increased the attractiveness for investing in real estate, resulting in overall positive performance of the sector.”
For instance, the average wealth in the GROHE-HURUN India Real Estate Rich List 2021 has increased by 30%, to Rs 4,537 crore. The combined wealth of the entrepreneurs on the list grew by 30% compared to 2020 and 81 of them increased wealth, including 13 new additions, he said.
“For the year under review, the BSE Realty index gained 55% compared to a 22% gain of the benchmark index Sensex. The real estate stocks are primarily driven by a recovery in real estate demand on the back of low-interest rates and government incentives. This could be the reason why the GROHE-HURUN Real Estate Rich List registered the biggest ever cumulative wealth growth of 30% since inception”, he said.
“While the 2020 GROHE-HURUN list demonstrated the resilience of the sector, the 2021 list evidenced the quality of India’s top real estate entrepreneurs. For instance, the cut-off to feature in the top 10 of the GROHE-HURUN India Real Estate Rich List 2021 has increased by 122% to Rs 11,400 crore.”, Anas Rahman Junaid said.
