Gautam Adani tops Hurun real estate rich list, overtaking DLF's Rajiv Singh

Adani Properties emerged as the biggest value creator in India's real estate sector in 2026, adding ₹38,000 crore in valuation and propelling Gautam Adani and family to the top of the Grohe-Hurun India Real Estate Rich List. Despite the surge, DLF retained its position as India's most valuable real estate company.

Adani Properties recorded the highest absolute gain in valuation among Indian real estate companies this year, rising 72.5% year-on-year to ₹90,400 crore, according to the 2026 Grohe-Hurun India Real Estate 150 report. The Ahmedabad-based company climbed four places to become the country's fourth-most valuable real estate company while retaining its status as India's most valuable unlisted real estate developer.

The sharp increase in valuation also propelled Gautam Adani and family to the No. 1 position on the Grohe-Hurun India Real Estate Rich List for the first time, with a real estate wealth of ₹90,400 crore, up 73% over the previous year. The ranking reflects the family's full ownership of Adani Properties.

Hurun attributed the surge largely to the Adani Group's decision to consolidate its real estate operations under Adani Properties. The research firm noted that India's richest person could be building the country's largest real estate business through the integrated platform.

While Adani Properties was the biggest mover, DLF continued to hold the title of India's most valuable real estate company despite a difficult year for listed developers. The Gurugram-based developer's valuation fell 29.3% year-on-year to ₹1.46 lakh crore, but it comfortably retained the top position in the rankings.

Lodha Developers retained second place with a valuation of ₹93,700 crore despite a 32.2% decline, while Indian Hotels Company remained third at ₹93,300 crore after a 13.9% fall in valuation.

Real estate sector and trends

The report painted a subdued picture for the broader real estate sector. The combined valuation of the 151 companies on the list increased just 2% to ₹16.5 lakh crore, marking the slowest growth since the rankings began nine years ago. Last year's list had recorded 14% growth. According to Hurun, the slowdown coincided with a 20% decline in the BSE Realty Index, reflecting weaker investor sentiment amid geopolitical uncertainties and concerns surrounding artificial intelligence, particularly affecting residential real estate.

Only 31 companies gained value, while 74 witnessed declines during the year. The report said the total value added by companies amounted to just ₹34,300 crore, sharply lower than the ₹1.4 lakh crore added in the previous edition. Existing companies Adani Properties and Prism (OYO) together accounted for nearly two-thirds of the total value created, underscoring how gains were concentrated among a handful of players.