This 64-Old Indian Declared India's Richest Real Estate Entrepreneur With Rs 59,030 Crore Assets! (Check Full List)


Rohit Kulkarni

Rohit Kulkarni

May 30, 2023


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.

This 64-Old Indian Declared India's Richest Real Estate Entrepreneur With Rs 59,030 Crore Assets! (Check Full List)

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 NameWealth in Rs crore1-year change (%)5-year change (%)CompanyHeadquarters
1-Rajiv Singh59,030-4%234%DLFNew Delhi
2-Mangal Prabhat Lodha & family42,270-20%56%Macrotech DevelopersMumbai
3*Arjun Menda & family37,000NewNewRMZBengaluru
4↓Chandru Raheja & family26,6201%85%K RahejaMumbai
5↑Niranjan Hiranandani239007%182%Hiranandani CommunitiesMumbai
6↓Jitendra Virwani23,100-2%-0.3%Embassy Office ParksBengaluru
6↓Vikas Oberoi22,9701%109%Oberoi RealtyMumbai
8↓Basant Bansal & family16,110-7%305%M3M IndiaGurugram
9↓Raja Bagmane16,100-4%448%Bagmane DevelopersBengaluru
10↓Gavva Amarender Reddy15,0000%NewGAR CorporationHyderabad

 Top-5 companies by market capitalisation

NoCompanyMcap in Rs crore5-year growth (%)PromoterPrimary Sector
1DLF1,16,650139%Rajiv SinghCommercial
2Macrotech Developers48,18077%Mangal Prabhat LodhaResidential
3Godrej Properties38,72079%Godrej familyResidential
4Oberoi Realty35,47085%Vikas OberoiResidential
5Embassy Office Parks29,29026%Jitendra VirwaniCommercial

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.

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Rohit Kulkarni
Rohit Kulkarni
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