NEW DELHI: With net worth of Rs 44,270 crore Mangal Prabhat Lodha of Macrotech Developers is the richest builder in India, according to recently release GROHE Hurun real estate rich list 2020. His wealth increased by 39% in the current year.Lodha Group had the highest revenue from operations among all the real estate developers in India during the pandemic hit year 2020, according to the list.
With a wealth of Rs 36,430 crore, Rajiv Singh of DLF ranked second on the list and registered an increase of 45% in wealth, backed by 50% rise in DLF’s share price.
With a 70% increase in wealth and current wealth of Rs 26,260 crore, Chandru Raheja of K Raheja Corp was third on the list of richest developers in India.With a wealth of Rs 23,220 crore, Jitendra Virwani of Embassy Office Parks ranks fourth in the list while the fifth spot is taken by Niranjan Hiranandani of Hiranandani Communities, whose real estate businesses registered a valuation of Rs 20,600 crore.
With a 13% increase in wealth to Rs 15,770 crore, Vikas Oberoi of Oberoi Realty is ranked sixth on the list. Ranked seventh is Raja Bagmane, who registered a wealth of Rs 15,590 crore increased his wealth by 57%, primarily due to a 50% increase in after tax profit in FY20.
With a wealth of Rs 11,450 crore and a wealth increase of 61%, Subhash Runwal of Runwal Developers secured the eighth spot while Ajay Piramal of Piramal Realty registered ninth on the list with a wealth of Rs 6,560 crore.
With a wealth of Rs 6,340 crore, Atul Ruia of Phoenix Mills was the tenth richest builder in India.
With Rs 280 crore networth, the youngest on the list is Aditya Chandak (36) of Chandak Group and at Rs 2,170 crore, oldest on the list is PRS Oberoi (91) of East India Hotels.
Total wealth of top 100 builders in the recently released was up 26% from 2019 to Rs 3,48,660 crore.
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