The GROHE Hurun India Real Estate Rich List 2018 is out and New Delhi, Mumbai and Bengaluru are home to the richest real estate tycoons in India. Among about hundred real estate entrepreneurs from India who made it to the list, three of Bengaluru's real estate developers made it to the top-ten.
The three richest realtors from Bengaluru are Jitendra Virwani of Embassy Group, and Raj and Manoj Menda of RMZ group. The list also features nine women entrepreneurs, with Renuka Talwar of DLF group ranked 19, topping the list for women.
Mangal Prabhat Lodha, founder of Lodha group and BJP leader, is the richest real estate entrepreneur in the country with a net worth of Rs 27,150 crore.
Jitu Virwani, owner of Embassy group came in second with a net worth of Rs 23,160 crore. Kushal Pal Singh, the founder of DLF group transferred his shares to his son Rajiv Singh, Vice Chairman of DLF Limited, making him the third richest realtor, worth Rs 17,690 crore.
Chandru Raheja of K Raheja group, comes in the fourth position with a net worth of Rs 14,420 crore, followed by Vikas Oberoi of Oberoi Realty, worth Rs 10,980 crore.
The Hiranandani brothers, Niranjan and Surendra, occupied the sixth and seventh slot with a wealth of Rs 7,880 crore each and Ajay Piramal and family of Piramal Realty are in the seventh spot among the Indians who made the list, with a combined wealth of Rs 6,380 crore.
The Billionaire brothers, Manoj and Raj Menda, owners of RMZ occupied the ninth and tenth position with a wealth of Rs 5,900 crore each.
"Real estate sector in India has always been among the key wealth creators in the country...It is also an industry that demands patience and persistence – with an average age of the participants on the list hovering around 59 years," Anas Rahman Junaid, MD of Hurun Report India, said, reported by TOI.
