Hurun Real Estate List: Adani Realty Claims Top Spot As Most Valuable Unlisted Company

In a dynamic year for India's real estate sector, Adani Realty, headquartered in Ahmedabad and led by Jackbastian K. Nazareth, has once again secured its position as the most valuable unlisted real estate company on the 2025 GROHE - Hurun India Real Estate 150 list.

Valued at Rs 52,400 crore, Adani Realty continues its focus on large-scale urban projects and redevelopment initiatives across Indian cities, as noted in the report by Hurun Research Institute.

• India's top real estate firms are valued at Rs 16 lakh crore or $188 billion, up by Rs 1.9 lakh crore, according to the Hurun report.

• Their total value grew by only 14%, a sharp drop from last year's 70% growth and the lowest on record for the list.

• DLF remains India's most valuable real estate company at Rs 2 lakh crore. Adani Realty is the top unlisted firm, valued at Rs 52,400 crore.

• Mumbai leads India's real estate sector, with 42 listed companies valued at Rs 6,96,800 crore.

• There is the emergence of 63 new entrants to the list, with 29 of these entrants debuting directly into the Top 100 in the list.

The overall real estate landscape in financial year 2025 presented a more modest growth trajectory, with the combined value of India's most valuable real estate companies reaching Rs 16 lakh crore or $188 billion, an increase of Rs 1.9 lakh crore from the previous year. This 14% cumulative value growth is a notable slowdown from the 70% surge recorded last year, marking the lowest in the list's history. This is also coupled with a 12% decline in the BSE Realty Index.

Despite this moderation, the sector added Rs 1.4 lakh crore in value, driven by a sharp rebound post-April, as stable interest rates and strong housing demand aided recovery.

DLF, with a value of Rs 2 lakh crore, continues to dominate as India's most valuable real estate company, retaining its top spot. Lodha Developers and Indian Hotels Company, Taj Group of Hotels, secured the second and third positions, valued at Rs 1.4 lakh crore and Rs 1.1 lakh crore respectively.

The report also highlights Mumbai's continued dominance as India's real estate capital, hosting 42 companies on the list, contributing a cumulative valuation of Rs 6,96,800 crore. The emergence of 63 new entrants, with 29 debuting directly into the Top 100, signals a broadening of the leadership base.

Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.