Mumbai–Adani Properties recorded a 74% increase in valuation to become India’s fourth-most valuable real estate company, according to the 2026 Grohe-Hurun India Real Estate 150 report released Tuesday.
The Adani Group’s real estate business added about Rs 38,000 crore in value, lifting its total valuation to Rs 90,400 crore.
The report said Adani Group Chairman Gautam Adani could be building “India’s largest real estate business.”
DLF retained the top position with a valuation of Rs 1.46 lakh crore, followed by Lodha Developers at Rs 93,700 crore. Tata Group hospitality company Indian Hotels Company Limited ranked third with a valuation of Rs 93,300 crore, narrowly ahead of Adani Properties.
The increase also placed Gautam Adani and his family at the top of the Grohe-Hurun India Real Estate Rich List for the first time. The family fully owns the real estate business and displaced DLF’s Rajiv Singh and family from the top position.
Adani Properties is chaired by Gautam Adani and managed by Pranav Adani and Rajesh Adani. Its major projects include the redevelopment of Dharavi in partnership with the Maharashtra government and the Motilal Nagar redevelopment project.
The broader real estate sector delivered a subdued performance during the year. The BSE Realty Index declined 20%, while only 31 of the 151 companies covered in the report gained value and 74 recorded declines.
The combined value of the top 150 companies increased just 2%, the slowest growth recorded during the nine-year history of the ranking.
Hurun India Founder and Chief Researcher Anas Rahman Junaid said the list reflected a year “that cooled rather than cracked,” adding that the performance of newer entrants showed where momentum in the sector had shifted.
Prism, the parent company of Oyo founded by Ritesh Agarwal, entered the top 10 and ranked fifth after its valuation more than doubled to Rs 67,200 crore.
The top three companies retained their positions from the previous year despite declines in valuation. Adani Properties, Oyo and K Raheja Corp moved higher in the rankings, while Oberoi Realty, Prestige Estates Projects and Godrej Properties fell. (Source: IANS)
