MUMBAI: Gautam Adani and his family’s Adani Properties were the biggest gainers in India’s real estate industry, adding Rs 38,000 crore to reach Rs 90,400 crore in valuations, with a 73% surge in wealth.According to the 2026 GROHE-Hurun India list of the country’s top 151 property companies released on Tuesday, Adani Properties moved four places to fourth position, the largest absolute value gain on the list.Led by Pranav Adani and Rajesh Adani, the Ahmedabad-headquartered firm is India’s most valuable unlisted developer, said the report. Adani Group’s real estate division has a substantial presence in Mumbai’s property market. It is developing a 24-acre land parcel in Bandra Reclamation, a 143-acre Motilal Nagar redevelopment project in Goregaon (W), and the 600-acre Dharavi Redevelopment project.
Gurugram-based DLF, however, retained the top spot with a valuation of just under Rs 1.5 lakh crore, despite a 29.3% decline over the year. It was followed by Mumbai-based Lodha Developers, led by Abhishek Lodha, with a valuation of Rs 93,700 crore, 32.2% lower than previous year.“Indian Hotels Company held third place with Rs 93,300 crore. Under Puneet Chhatwal’s leadership, the Taj Group saw a 13.9% decline in valuation but continues to expand across luxury and mid-market formats,” said the report.It was, however, not a great year for Indian realty with the cumulative value of companies in the 2026 GROHE – HURUN India Real Estate 150 going up 2%, compared with a 14% growth last year, the lowest in the history of the list. “This slowdown was accompanied by a 20% decline in the BSE Realty Index,” said the report.Mumbai leads India’s real estate map with 50 companies, and a cumulative valuation of Rs 7.3 lakh, with New Delhi second with 19 companies (Rs 82,900 crore), while Gurugram and Bengaluru were tied for the third spot with 18 companies each.Gurugram, anchored by DLF and new commercial trusts, “had a combined value of nearly Rs 3.3 lakh crore, which is significantly higher than Bengaluru’s Rs 2.1 lakh crore.”
