Gautam Adani and family have emerged the wealthiest real estate entrepreneurs in the country edging out DLF’s Rajiv Singh and family following a 73 per cent gain in wealth, GROHE-Hurun India said in its 2026 report.

The Adani family wealth from real estate grew 73 per cent to ₹90,400 crore and it overtook DLF chairman Rajiv Singh who slipped into the second rank with a wealth of ₹90,200 crore. 

While Adani family gained in valuation following a consolidation of their real estate business under a single entity – Adani Properties, Singh and family saw a wealth erosion of 29 per cent due to broader market correction, the report said.. 

Mangal Prabhat Lodha and family of Lodha Developers, Vikas Oberoi of Oberoi Realty and Chandru Raheja and family of K Raheja Group  took the other three  spots in the top five wealthiest real estate developers’ list.

 DLF, however,  remains India’s most valuable companies by market capitalisation with a presence across residential, commercial and retail sectors. Adani group is most valuable unlisted real estate company following a ₹38,000 crore increase in valuation. 

While valuation of listed companies is based on their market capitalisation, Hurun Research said it derives valuations of unlisted companies by comparing them with their listed peers using metrics such as EV/EBITDA  and price to book ratio. 

Anas Rahman Junaid, founder and chief researcher of Hurun India, said the combined value of real estate developers in India grew by 2 per cent last year to ₹16.5 lakh crore compared to 14 per cent growth registered in the previous year. This was due 20 per cent decline in BSE Realty Index in FY 2026. Only 31 of 150 tracked companies gained value while 74 reported decline. 

Growth in Indian real estate companies’ valuations is modest 2 per cent  but I think we have done fairly well in comparison with other countries. We are also seeing early signs of recovery and I am very bullish on the growth of the industry,” said Priya Rustogi, Managing Director (India and sub continent), Lixil India, which owns bathroom solutions brand Grohe.