According to the Grohe-Hurun Rich List 2023, Rajiv Singh, the promoter of DLF, is recognized as the wealthiest Indian real estate entrepreneur. Holding a fortune of Rs 59,030 crore, the 64-year-old Singh has secured this prestigious position for the second consecutive time.
The promoters of Macrotech Developers, based in Mumbai, and RMZ, headquartered in Bangalore, occupy the second and third positions on the list, respectively. The report reveals that over the past five years, the wealth of Mangal Prabhat Lodha and his family, owners of Macrotech Developers, has increased by 56%, reaching Rs 42,270 crore in 2023. Arjun Menda and his family, owners of RMZ, have achieved the third position on the list for the first time with a wealth of Rs 37,000 crore.
Chandru Raheja and his family from the K Raheja group, Niranjan Hiranandani from Hiranandani Communities, and Jitendra Virwani from Embassy Office Parks hold the 4th, 5th, and 6th positions, respectively.
In its sixth edition, the Grohe-Hurun India Real Estate Rich List 2023 ranked 100 individuals from 67 companies and 16 cities.
Top-10 real estate developers in India in 2023
| Rank | Name | Wealth in Rs crore | 1-year change (%) | 5-year change (%) | Company | Headquarters |
| 1- | Rajiv Singh | 59,030 | -4% | 234% | DLF | New Delhi |
| 2- | Mangal Prabhat Lodha & family | 42,270 | -20% | 56% | Macrotech Developers | Mumbai |
| 3* | Arjun Menda & family | 37,000 | New | New | RMZ | Bengaluru |
| 4↓ | Chandru Raheja & family | 26,620 | 1% | 85% | K Raheja | Mumbai |
| 5↑ | Niranjan Hiranandani | 23900 | 7% | 182% | Hiranandani Communities | Mumbai |
| 6↓ | Jitendra Virwani | 23,100 | -2% | -0.3% | Embassy Office Parks | Bengaluru |
| 6↓ | Vikas Oberoi | 22,970 | 1% | 109% | Oberoi Realty | Mumbai |
| 8↓ | Basant Bansal & family | 16,110 | -7% | 305% | M3M India | Gurugram |
| 9↓ | Raja Bagmane | 16,100 | -4% | 448% | Bagmane Developers | Bengaluru |
| 10↓ | Gavva Amarender Reddy | 15,000 | 0% | New | GAR Corporation | Hyderabad |
Top-5 companies by market capitalisation
| No | Company | Mcap in Rs crore | 5-year growth (%) | Promoter | Primary Sector |
| 1 | DLF | 1,16,650 | 139% | Rajiv Singh | Commercial |
| 2 | Macrotech Developers | 48,180 | 77% | Mangal Prabhat Lodha | Residential |
| 3 | Godrej Properties | 38,720 | 79% | Godrej family | Residential |
| 4 | Oberoi Realty | 35,470 | 85% | Vikas Oberoi | Residential |
| 5 | Embassy Office Parks | 29,290 | 26% | Jitendra Virwani | Commercial |
Speaking of where these rich people live, then it would be the western states of Maharashtra and Gujarat which account for 40% of the cumulative wealth of the list, followed by the southern region states of Karnataka, Telangana, Tamil Nadu and Andhra Pradesh with 34%.
A close third with a 25% share are the northern states of Delhi, Haryana and Punjab. With 37 individuals, Maharashtra is the preferred state of residence for real estate entrepreneurs on the list, followed by Delhi with 23, and Karnataka with 18.
