India is now top realty market in Asia with 36 billion-dollar companies
India has emerged as the top realty market in Asia, with 36 billion-dollar companies in 2024. This is a significant increase from just seven such companies six years ago. The deepening crisis in the Chinese real estate market has contributed to this shift, with the number of billion-dollar listed companies in mainland China dropping from 100 to just 30.
DLF tops the list of these companies, valued at Rs 2 trillion, followed by Macrotech Developers at Rs 1.4 trillion, and Indian Hotels Company at Rs 79,150 crore. The list now also includes hospitality and shared workspaces.
This growth is attributed to the implementation of the Real Estate (Regulation and Development) Act (Rera) in India, which has enhanced transparency and accountability, thereby boosting investor confidence. In contrast, China’s market struggles with oversupply, high debt of developers, and stringent government regulations.
Adani Realty has entered the top 10, ranking seventh with a valuation of Rs 56,500 crore, making it the most valuable unlisted real estate company on the list. The cumulative value of India’s top realty companies grew by 70 per cent, the highest ever since the inception of the list, aligning with the BSE Realty Index, which grew by 110 per cent.
Among the youngest realty companies, Max Estates and Smartworks, both founded just eight years ago, are the youngest companies on the list. The women developers list is led by Pavitra Shankar of Brigade Enterprises and G Indira Krishna Reddy of Taj GVK, and they are also the only women-led companies in the 2024 list.
Six companies on the list, including Indian Hotels Company and Macrotech Developers, have a global presence. When it comes to cities, Mumbai leads with 33 companies, followed by Bengaluru with 15, New Delhi with 14, and Gurugram with 10 companies. As many as 67 per cent of the companies focus primarily on the residential sector, while 19 per cent are in the commercial sector.
This growth is attributed to the implementation of the Real Estate (Regulation and Development) Act (Rera) in India, which has enhanced transparency and accountability, thereby boosting investor confidence. In contrast, China’s market struggles with oversupply, high debt of developers, and stringent government regulations.
Adani Realty has entered the top 10, ranking seventh with a valuation of Rs 56,500 crore, making it the most valuable unlisted real estate company on the list. The cumulative value of India’s top realty companies grew by 70 per cent, the highest ever since the inception of the list, aligning with the BSE Realty Index, which grew by 110 per cent.
Among the youngest realty companies, Max Estates and Smartworks, both founded just eight years ago, are the youngest companies on the list. The women developers list is led by Pavitra Shankar of Brigade Enterprises and G Indira Krishna Reddy of Taj GVK, and they are also the only women-led companies in the 2024 list.
Six companies on the list, including Indian Hotels Company and Macrotech Developers, have a global presence. When it comes to cities, Mumbai leads with 33 companies, followed by Bengaluru with 15, New Delhi with 14, and Gurugram with 10 companies. As many as 67 per cent of the companies focus primarily on the residential sector, while 19 per cent are in the commercial sector.
Sources:
India to become real estate capital of Asia says Hurun Report (deccanchronicle.com)
India outshines China with 36 real estate companies valued over a billion dollars (msn.com)
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