Wealthiest Real Estate Developers in India and Top Realty Companies (2024–25)
Introduction
The real estate sector has always been a cornerstone of India’s economy, generating massive employment opportunities and contributing significantly to GDP. Currently, real estate accounts for nearly 7.3% of India’s GDP, with projections estimating a surge to around 15.5% by 2047 as urbanization and infrastructure projects expand. Demand for housing, commercial hubs, and retail spaces is climbing steadily, driven by growing incomes and policy support such as RERA and the Smart Cities Mission.
Luxury housing has emerged as a major wealth driver for developers. In fact, sales of homes priced above ₹4 crore rose by more than 50% in 2024 across major metros, reflecting the appetite for high-end living spaces. Global investors are also betting big: Blackstone alone has pumped in nearly $50 billion into Indian real estate, with another $22 billion lined up by 2030. No wonder the wealthiest real estate developers in India are today counted among the nation’s richest business icons.
This blog explores the country’s top real estate billionaires and leading property companies by valuation, highlighting their strategies, landmark projects, and the trends driving the industry forward.
Leading Individual Real Estate Developers in India
1. Rajiv Singh – DLF Ltd.
Net Worth: ₹1.27 lakh crore (Hurun India 2024)
Company: DLF Ltd.
Rajiv Singh, the son of DLF’s founder K.P. Singh, has grown DLF into India’s largest listed developer. Known for DLF Cyber City in Gurugram and integrated townships across NCR, the company dominates residential, commercial, and retail segments. Singh is steering the brand under a strategy dubbed “DLF 2.0,” with a pipeline worth over ₹30,000 crore in new projects.
2. Mangal Prabhat Lodha – Macrotech Developers (Lodha Group)
Net Worth: ₹92,340 crore
Company: Macrotech Developers Ltd.
The Lodha family made its fortune in Mumbai real estate with iconic projects like World One Tower and sprawling townships. Now helmed by Abhishek Lodha, Macrotech reported record pre-sales in FY24. Lodha’s focus on luxury skyscrapers and mega township developments has secured him a place among the wealthiest real estate developers in India.
3. Gautam Adani – Adani Realty
Net Worth: ₹52,320 crore (from real estate arm)
Company: Adani Realty
While Adani is better known for infrastructure and energy, his real estate arm has been growing rapidly with projects in Mumbai, Ahmedabad, and Gurugram. Developments such as the Shantigram Township exemplify his approach of integrating real estate with broader infrastructure projects. In 2024, Adani Realty’s valuation grew over 60% year-on-year.
4. Vikas Oberoi – Oberoi Realty
Net Worth: ₹46,950 crore
Company: Oberoi Realty Ltd.
Focused mainly on Mumbai, Oberoi Realty is synonymous with luxury high-rises, premium malls, and commercial hubs. Under Vikas Oberoi, the company has expanded into NCR by acquiring land in Gurugram. The firm’s valuation stands above ₹66,000 crore, reflecting strong brand equity in the premium housing market.
5. Basant Bansal – M3M India
Net Worth: ₹37,390 crore
Company: M3M India Pvt. Ltd.
M3M has reshaped Gurugram’s skyline with upscale residences like M3M Golf Estate and large retail projects. Basant Bansal, alongside his brothers, has positioned M3M among the most ambitious NCR developers, with expansion plans into Noida and other northern markets.
6. Atul Ruia – The Phoenix Mills
Net Worth: ₹26,140 crore
Company: Phoenix Mills Ltd.
Phoenix Mills has built India’s most prominent luxury malls, including High Street Phoenix and Phoenix Market City. Ruia’s vision extended the company into hospitality and mixed-use properties, cementing his wealth through India’s booming retail and lifestyle spaces.
7. Raja Bagmane – Bagmane Developers
Net Worth: ₹25,270 crore
Company: Bagmane Developers
Bagmane Developers dominates Bangalore’s IT park market, including the well-known Bagmane World Technology Center. Raja Bagmane has also expanded into residential projects, benefiting from the tech boom in South India.
8. S.S. Reddy & C.V. Reddy – Aparna Constructions
Net Worth: ~₹18,500 crore each
Company: Aparna Constructions
Based in Hyderabad, Aparna Constructions has delivered several integrated residential and commercial projects. Their wealth is tied to Hyderabad’s rising prominence as a hub for IT and real estate growth.
9. Jitendra Virwani – Embassy Group
Net Worth: ₹18,000 crore
Company: Embassy Group
Virwani is the force behind Embassy TechVillage and Embassy Office Parks REIT, India’s first listed REIT. Embassy’s portfolio of commercial properties across Bangalore and Pune has made it a magnet for global tenants and investors.
10. Irfan Razack – Prestige Group
Net Worth: ₹14,510 crore
Company: Prestige Estates Projects Ltd.
From the Prestige Shantiniketan township in Bangalore to luxury malls like Forum, Irfan Razack has built a diversified portfolio across South India. His leadership has kept Prestige among India’s most valuable developers.
Top Real Estate Companies by Valuation (2024–25)
DLF Ltd. – ₹200,000+ crore
Macrotech Developers (Lodha Group) – ₹140,000 crore
Indian Hotels Company (Taj Group) – ₹79,150 crore
Godrej Properties – ₹77,280 crore
Oberoi Realty – ₹66,200 crore
Prestige Estates – ₹63,980 crore
Adani Realty – ₹56,500 crore
Phoenix Mills – ₹55,740 crore
K Raheja Corp – ₹55,300 crore
Embassy Office Parks REIT – ₹33,150 crore
Industry Trends Defining Real Estate Wealth
Luxury housing boom – Homes priced over ₹4 crore witnessed record sales in 2024, boosting developer fortunes.
Residential dominance – Nearly 70% of major developers’ focus remains in residential projects.
Commercial & retail recovery – Office demand is strong, while mall culture is thriving in tier-1 and tier-2 cities.
Foreign investment surge – With over ₹3.8 lakh crore invested, PE funds like Blackstone, Brookfield, and GIC continue to expand in India.
Smart cities and infra growth – Expressways, metro networks, and smart city initiatives are unlocking new growth corridors like Dwarka Expressway and Hinjewadi in Pune.
Conclusion
The wealthiest real estate developers in India have not only amassed personal fortunes but also transformed the urban landscape with world-class projects. Whether it is Rajiv Singh’s DLF reshaping Gurugram, Lodha Group building Mumbai’s skyline, or Prestige fueling South India’s growth, these developers reflect the dynamism of India’s property sector.
With urbanization accelerating and global investments flowing in, the industry is expected to reach nearly 13% of India’s GDP by 2030. The coming decade promises even greater opportunities, making real estate one of the most lucrative and influential sectors in the nation’s economy.