DLF Tops 2025 GROHE-Hurun India Real Estate 150 List

DLF Tops 2025 GROHE-Hurun India Real Estate 150 List; Sector Shows Slower Growth Amidst Rising Competition

Mumbai: The 2025 edition of the *GROHE-Hurun India Real Estate 150* has been unveiled, highlighting India’s most valuable real estate companies. With DLF retaining its top position for the third consecutive year, the report reflects a year of modest growth in the Indian real estate sector, marked by evolving leadership, increased entry thresholds, and a stronger push toward professional management.

Sector Sees Slower Growth, Higher Entry Threshold

The cumulative value of the companies featured in this year’s list stands at ₹16 lakh crore (USD 188 billion), a year-on-year increase of just 14% — a significant slowdown compared to last year’s 70% surge. The entry barrier to make it to the list has doubled in five years, now set at ₹1,000 crore.

Market Leaders and Movers

DLF leads the list once again with a valuation of ₹2 lakh crore, followed by Lodha Developers (₹1.4 lakh crore) and Indian Hotels Company, popularly known as the Taj Group (₹1.1 lakh crore). The Taj Group continues to hold its position as India’s most valuable hospitality brand.

For the first time, hospitality disruptor OYO, led by Ritesh Agarwal, has entered the list — making a direct debut in the top 15. Adani Realty reclaimed its spot as the most valuable unlisted real estate firm, while Arihant Foundations & Housing, led by Kamal Lunawath, registered the highest percentage growth with a 1000% jump in valuation.

Priya Rustogi, Leader (Managing Director), India & SubCon, LWT, LIXIL IMEA. "It is a privilege to continue our association with Hurun India as we celebrate the achievements of the country’s most dynamic real estate leaders. The 2025 GROHE-HURUN India Real Estate 150 reflects how India’s real estate sector is not only expanding in value but also evolving in character with increasing diversity in leadership, regionally rooted enterprises scaling nationally, and a growing emphasis on sustainability and professionalism. At GROHE, we view this as an opportunity to deepen our collaboration with developers who are not just delivering on scale, but also on long-term value creation, shaping India’s urban future with a balance of ambition, resilience, and accountability."

Anas Rahman Junaid, Founder and Chief Researcher, Hurun India, said, “The 2025 GROHE - HURUN India Real Estate 150 captures a sector staging a remarkable rebound. Despite early-year turbulence due to global conflicts and input cost pressures, the industry added INR 1.4 Lakh Cr in value, led by a sharp post-April recovery. DLF, Prestige, and Anant Raj posted over 20% rebounds in just two months. The entry of 63 new companies — 29 directly into the Top 100 — marks a widening of the leadership base, signalling renewed investor confidence and structural depth in India’s real estate ecosystem.”

City-Wise Dominance

Mumbai remains the real estate capital of India, with 42 companies on the list, followed by Bengaluru (23), New Delhi (16), Hyderabad and Pune (13 each). These five cities alone account for 71% of the companies featured.

 Newcomers and Young Blood

This year saw 63 new entrants, 29 of which debuted directly into the top 100. Among the youngest companies is Schloss Bangalore (₹13,600 crore), founded just six years ago and led by Deepak Parekh. Others include Urbanrise, Raymond Realty, and WeWork India. In contrast, the oldest company on the list is Peninsula Land, established in 1871, with a valuation of ₹1,000 crore.

Leadership Trends and Gender Diversity

An increasing number of firms are being led by professional CEOs — 33 companies now operate under leadership unconnected to founding families.

Four women-led firms have made the cut this year:

* Pavitra Shankar** (Brigade Enterprises – ₹27,200 Cr)

* Priya Paul** (Apeejay Surrendra Park Hotels – ₹3,600 Cr)

* Jyotsna Suri** (The Lalit – ₹3,000 Cr)

*Meenakshi Ramji** (Sowparnika – ₹2,800 Cr)

The average age of leaders stands at 58, while the average age of companies dropped to 34 years — five years younger than last year. Neetish Sarda (31) of Smartworks is the youngest leader, while GVK Reddy (88) of Taj GVK is the oldest.

Employment and Global Presence

NCC emerged as the top employer with over 25,000 staff, displacing last year’s leader Sobha. Additionally, 17 of the 150 companies have expanded their footprint globally, including Mahindra Holidays, Lulu International, and Indian Hotels Company.

Sector Focus

Residential real estate continues to dominate, with 67% of the companies operating primarily in this segment. Commercial and hospitality segments account for 15% each.

Conclusion:

Despite a slowdown in growth, the *2025 GROHE-Hurun India Real Estate 150* showcases a dynamic industry in transition — increasingly led by young, professional, and diverse leadership, and expanding into new geographies and asset classes.