Adani Family Tops Most Valuable First-Generation Indian Family Businesses For Second Year Running

The 2025 Barclays Private Clients Hurun India Most Valuable Family Businesses List features the first generation entrepreneurs who have created build business empires. For the second consecutive year, the Adani family tops the list of the 20 Most Valuable First-Generation Indian Family businesses, with businesses worth Rs 14 lakh crore.

The Adani family is led by Gautam Adani and the business' valuation of Rs 14 lakh crore comes from the combined valuation of Adani Enterprises, Adani Ports, and other group companies. This makes the business India’s most valuable first-generation business.

In second place is the Poonawalla family, led by Cyrus Poonawalla, which manages the Serum Institute of India. This business is valued at Rs 2.3 lakh crore. Murali K. Divi of the Divi family, whose pharmaceutical firm Divi’s Laboratories is valued at Rs 1.8 lakh crore, follows.

The top three family businesses are valued at $471 billion or Rs 40.4 lakh crore. This combined value has gone up Rs 4.6 lakh crores, which interestingly is equivalent to the GDP of the Philippines.

Other notable entrants include the Nuwal family with their business Solar Industries worth Rs 1.6 lakh crore. The Reddy family is also a new entrant with their Rs 1 lakh crore business, Apollo Hospitals. The Grandhi family has also come in with their Rs 98,300 crore business, GMR.

Although not yet qualifying as multi-generational, these families represent the forefront of Indian entrepreneurship and are all set to transition into legacy enterprises. Most of the big names have their successors already contributing to business growth and administration.