India outshines China in real estate expansion, says latest GROHE-Hurun rankings

India is outpacing China in the growth of real estate firms, according to the latest 2024 GROHE-Hurun India Real Estate 100 list. The list, which ranks India's most valuable real estate companies, highlights the robust expansion and dynamic recovery of India's real estate sector. Driven by a young population, increasing urbanization, and a burgeoning middle class, India's real estate market is on an upward trajectory, leaving behind China's market, which faces significant challenges. Anas Rahman Junaid, Founder and Chief Researcher of Hurun India, highlighted the remarkable growth and recovery of the Indian real estate sector in the report. “An impressive 86% of the companies in this year’s list saw their values increase, collectively adding Rs 6.2 lakh crore. This showcases the sector's robust growth and dynamic recovery."

“China faces significant market challenges due to government clampdowns and a slowdown in demand. India benefits from a young population, increasing urbanization, and a growing middle class. The implementation of the Real Estate (Regulation and Development) Act (RERA) has further enhanced transparency and accountability, boosting investor confidence. In contrast, China's market struggles with oversupply, high debt levels among developers, and stringent government regulations, making India's real estate sector a more attractive and stable investment destination.”

The number of billion-dollar listed companies in Mainland China plummeted from 100 to just 30. Similarly, in the Hurun China 500, which requires a minimum valuation of $3 billion, the count has sharply fallen from 50 to merely 10.

Topping the list put out by Hurun is DLF, valued at Rs 2 lakh crore, followed by Macrotech Developers at Rs 1.4 lakh crore, and Indian Hotels Company (IHCL), famously known as the Taj Group of Hotels, at Rs 79,150 crore.

Adani Realty’s Rise: For the first time, Adani Realty, under the leadership of Jackbastian K. Nazareth, has entered the top 10, ranking seventh with a valuation of Rs 56,500 crore. Adani Realty is also the most valuable unlisted real estate company on the list.  Key takeaways

• 86% of the companies in the 2024 GROHE-Hurun India Real Estate 100 saw their value increase, with a cumulative addition of Rs 6.2 lakh crore.
• Top Employer: Sobha leads the list with 26,275 employees.
• Remarkable Growth: The cumulative value of India’s top real estate companies grew by 70%, the highest ever since the inception of the list, aligning with the BSE Realty Index, which grew by 110%.
• Biggest Gainer: DLF registered the highest value increase, adding Rs 85,000 crore compared to last year.
• Youngest Companies: Max Estates and Smartworks, both founded just eight years ago, are the youngest companies on the list.
• Women Leaders: Pavitra Shankar of Brigade Enterprises and G Indira Krishna Reddy of Taj GVK are the only women leading companies in the 2024 list.
• International Presence: Six companies on the list, including Indian Hotels Company and Macrotech Developers, have a global presence.
• Regional Insights: Mumbai leads with 33 companies, followed by Bengaluru with 15, New Delhi with 14, and Gurugram with 10 companies.
• Sector Dominance: 67% of the companies focus primarily on the residential sector, while 19% are in the commercial sector.