According to the latest report released by the GROHE Hurun India Real Estate, the founder of the Lodha Group, Mangal Prabhat Lodha is ranked as the richest builder in India with a net worth of Rs. 27,150 crore.
The list released featured Jitendra Virwani, owner of the Embassy Property Developments at the second spot with the property worth Rs. 23,160 crore and he is in the second position in 2017.
The third spot is grabbed by the DLF’s promoter Rajiv Singh with a wealth of Rs. 17,690 crore and he is the son of the K P Singh who is at the top position in the list last year with the wealth of Rs. 23,460 crore.
However, in the women category, K P Singh’s daughter Renuka Talwar topped with the wealth of Rs. 2,780 crore. There are 10 debutant women in the list among which Rameshwar Rao was at the highest at 14th position.
In the category of top 100 real estate barons, Mumbai city is the most preferred one for the real estate accommodation with 35 names followed by Delhi with 22 and Bengaluru with 21.
The list of the property tycoon includes only those who are born and brought in our country and includes 59% first generation entrepreneurs. The youngest man featured was Kunal Menda aged 2 years while the oldest one being Prithvi Raj Singh Oberoi aged 89 years.
The reports said, “Only four names aged below 40 years were featured in the list- indicating that the experienced and long-standing names build wealth in the long run from this sector in India”.
Anas Rahman Junaid, MD and Chief Researcher of Hurun report talked about the real estate industry which required patience and persistent.
He said, “Real estate is an industry that demands patience and persistence. India perhaps accounts for the largest population of homeless people in the world and aptly, the government is embarking on its most ambitious housing programme”.