India's Richest Real Estate Developers 2026: Gautam Adani Overtakes DLF's Rajiv Singh
The GROHE-Hurun India Real Estate Rich List 2026 has recorded a major change at the top of India's real estate industry. For the first time, Gautam Adani and family have become India's richest real estate entrepreneurs, overtaking Rajiv Singh and family of DLF Limited.
According to the 2026 rankings, Gautam Adani and family hold a real estate wealth of ₹90,400 crore, while Rajiv Singh and family closely follow with ₹90,200 crore. The difference between the top two positions is only ₹200 crore, making it one of the closest contests in the history of the rankings. Mangal Prabhat Lodha and family of Lodha Developers secured the third position with a wealth of ₹67,700 crore.
The report ranks entrepreneurs based on the value of their real estate businesses and assets. It includes developers involved in residential, commercial, retail, office, hospitality, and mixed-use projects across India.
The Growth Behind Adani's Rise to the Top
Gautam Adani and family climbed two places to become India's richest real estate entrepreneurs after Adani Properties recorded the strongest growth among all leading developers. The company's real estate wealth increased by 73% year-on-year, reaching ₹90,400 crore, enabling it to overtake DLF's Rajiv Singh and family by a narrow margin of ₹200 crore.
The report identifies Adani Properties as India's most valuable unlisted real estate company, with major residential, commercial, and mixed-use developments underway across urban India. It also emerged as the largest value creator over the past two years, adding ₹33,900 crore to its valuation since 2024. This exceptional growth was the key factor behind Adani's rise to the top of the 2026 rankings.
DLF leads with 352 mn sq ft developed area; Godrej Properties ranks second
Although Rajiv Singh and family slipped to second place in terms of promoter wealth, DLF continues to retain its position as India's most valuable real estate company, with a valuation of ₹1.47 lakh crore. The report also notes that DLF has developed 352 million sq. ft. of real estate, the highest among all developers in India. It is followed by Godrej Properties with 243 million sq. ft. and Prestige Estates Projects with 208 million sq. ft., highlighting DLF's continued leadership in the Indian property market.
Top 10 Richest Real Estate Entrepreneurs in India – 2026
The GROHE-Hurun India Real Estate Rich List 2026 features India's ten wealthiest real estate entrepreneurs based on the value of their real estate businesses. The list includes developers from Ahmedabad, New Delhi, Mumbai, Bengaluru, and Gurugram, representing some of the country's largest residential, commercial, retail, hospitality, and office real estate companies.
1. Gautam Adani and Family – Adani Properties
Gautam Adani and family secured the first position in the GROHE-Hurun India Real Estate Rich List 2026 with a real estate wealth of ₹90,400 crore. Their wealth is associated with Adani Properties also known as Adani Realty, based in Ahmedabad, which has emerged as India's most valuable unlisted real estate company. The company recorded the highest growth among the top 10 developers, with its real estate wealth increasing by 73% over the past year, helping Gautam Adani overtake DLF to claim the No. 1 position.
2. Rajiv Singh and Family – DLF Limited
The second position is held by Rajiv Singh and family, promoters of DLF Limited, with a real estate wealth of ₹90,200 crore. Headquartered in New Delhi, DLF is India's largest listed real estate developer and has developed landmark residential communities, commercial office spaces, retail destinations, and integrated townships, particularly in Delhi-NCR. Although the family's real estate wealth declined by 29% during the year due to the correction in listed real estate stocks, DLF continues to retain its position as India's most valuable listed real estate company.
3. Mangal Prabhat Lodha and Family – Lodha Developers
Mangal Prabhat Lodha and family ranked third with a real estate wealth of ₹67,700 crore. Based in Mumbai, Lodha Developers also know as Lodha Group is one of India's leading residential developers, known for luxury housing, premium townships, and large-scale mixed-use developments across Mumbai, Pune, Bengaluru, and other major cities. Despite a 27% decline in wealth during the year, the company continues to record strong residential sales and expand its national presence.
4. Vikas Oberoi – Oberoi Realty
The fourth position belongs to Vikas Oberoi, Chairman and Managing Director of Oberoi Realty, with a real estate wealth of ₹42,500 crore. Based in Mumbai, Oberoi Realty is recognised for its premium residential projects, luxury commercial developments, hotels, and integrated mixed-use projects. Although his wealth declined by 10%, the company continues to be one of India's leading luxury real estate developers.
5. Chandru Raheja and Family – K Raheja Corp
Chandru Raheja and family secured the fifth position with a real estate wealth of ₹42,200 crore. K Raheja Corp, headquartered in Mumbai, has built a diversified portfolio across commercial office spaces, shopping malls, hotels, residential developments, and business parks. The company remains one of India's most established real estate groups with a strong presence across multiple asset classes.
6. Atul Ruia and Family – Phoenix Mills
Ranking sixth, Atul Ruia and family hold a real estate wealth of ₹29,900 crore. Based in Mumbai, Phoenix Mills is one of India's leading developers of premium shopping malls, retail destinations, commercial offices, hotels, and mixed-use developments. The company recorded a 13% increase in real estate wealth during the year, reflecting continued growth in its retail-led real estate business.
7. Raja Bagmane and Family – Bagmane Prime Office REIT
Raja Bagmane and family ranked seventh with a real estate wealth of ₹29,100 crore. Headquartered in Bengaluru, Bagmane Prime Office REIT is known for developing premium office parks, technology campuses, and commercial spaces leased to multinational companies and Global Capability Centres (GCCs). The company registered a 15% increase in wealth, making it one of the fastest-growing commercial real estate developers in this year's rankings.
8. Niranjan Hiranandani – Hiranandani Communities
The eighth position is occupied by Niranjan Hiranandani, whose real estate wealth stands at ₹26,900 crore. Based in Mumbai, Hiranandani Communities is widely known for developing integrated townships, premium residential communities, commercial buildings, and mixed-use developments across several Indian cities. The company continues to maintain a strong reputation for planned urban developments.
9. Basant Bansal and Family – M3M India Group
Representing Gurugram, Basant Bansal and family ranked ninth with a real estate wealth of ₹25,500 crore. The family is associated with M3M India Group, a leading Delhi-NCR developer known for luxury residential, commercial, SCO, and mixed-use projects. M3M India was founded by Founder Chairman Sh. Basant Bansal, with Sh. Roop Bansal and Sh. Pankaj Bansal as promoters.
The family also founded Smartworld Developers, with Aishwarya Bansal, wife of Sh. Pankaj Bansal, serving as its co-founder. Smartworld has emerged as a growing real estate brand in Delhi-NCR, focused on modern residential developments.
10. Bijay Kumar Agarwal and Family – Sattva Developers and Knowledge Realty Trust
Completing the top ten is Bijay Kumar Agarwal and family with a real estate wealth of ₹20,500 crore. Based in Bengaluru, Sattva Developers and Knowledge Realty Trust have developed a diversified portfolio of residential communities, Grade-A commercial offices, IT parks, business parks, and mixed-use developments across major Indian cities, making the group one of South India's leading real estate developers.
Conclusion
The GROHE-Hurun India Real Estate Rich List 2026 reflects the changing dynamics of India's real estate sector. While Gautam Adani and family have claimed the top position for the first time, DLF continues to lead as the country's most valuable real estate company by market value. The rankings also highlight the performance of India's leading developers across residential, commercial, retail, hospitality, office, and mixed-use real estate, offering a comprehensive snapshot of the industry's current landscape and the companies driving its future growth.
