DLF Chairman Rajiv Singh and his family have emerged as the wealthiest in India’s real estate sector in the M3M Hurun India Rich List 2025, with a fortune of ₹1.21 lakh crore. They are followed by Lodha Group’s Mangal Prabhat Lodha & family at ₹93,750 crore, K Raheja Corp’s Chandru Raheja & family at ₹49,360 crore, Oberoi Realty’s Vikas Oberoi at ₹42,960 crore, and M3M’s Basant Bansal & family with ₹41,140 crore.
The real estate sector remains a significant driver of wealth creation in India, contributing ₹8.72 lakh crore ($95.7 billion) to the overall rich list. A total of 99 leaders from the real estate sector were featured this year, an increase from 91 in 2024, reflecting the sector’s resilience and growth. Among these 99 leaders, 23 were first-time entrants, highlighting the continuing opportunities in India’s urban development and infrastructure landscape.
Payal Kanodia, promoter of M3M India and chairperson of the M3M Foundation, noted that real estate continues to be one of the most dynamic sectors for wealth creation. The increasing number of entrants in the rich list demonstrates both the sector’s stability and its expanding role in shaping India’s economic and urban growth.
The M3M Hurun India Rich List 2025, released on October 1, profiles India’s wealthiest individuals across multiple sectors, including pharmaceuticals, industrial products, chemicals and petrochemicals, software and services, and real estate. Pharmaceuticals led the list with 137 individuals, topped by Cyrus S. Poonawalla & family. Industrial products followed with 132 entrants, led by Ramesh Kunhikannan, while chemicals and petrochemicals ranked third with 125 entrants, led by Sri Prakash Lohia. Software and services had 110 entrants, led by Roshni Nadar Malhotra & family. Real estate ranked fifth with 99 entrants, illustrating the sector’s strong position in India’s wealth landscape.
The rich list also highlighted notable figures from other industries, including Bollywood. Actor Shah Rukh Khan officially joined the billionaire club, with a net worth of ₹12,490 crore. His wealth is derived from his entertainment ventures, including Red Chillies Entertainment, a VFX studio, ownership of cricket teams, and an extensive real estate portfolio spanning Mumbai, London, Beverly Hills, Alibaug, Delhi, Dubai, and the United Kingdom. Khan’s Mumbai residence, Mannat in Bandra, is valued at over ₹200 crore, reflecting the high-value residential market in the country’s largest cities.
The report underscores the growing diversification of wealth sources among India’s richest individuals, combining real estate, industrial operations, pharmaceuticals, technology, and entertainment. Real estate remains central due to its stable returns, appreciation potential, and ability to generate wealth across generations, with urban and high-growth regional projects driving significant value creation.
The M3M Hurun India Rich List 2025 demonstrates both the increasing concentration of wealth in the top echelons of real estate and the broadening participation of new entrants. The sector’s overall contribution of ₹8.72 lakh crore highlights its continuing relevance to India’s economic development, and its capacity to support large-scale employment, construction activity, and ancillary industries.
With India’s urbanisation and infrastructure development accelerating, the real estate sector is expected to maintain a strong role in wealth creation. Developers with established portfolios in residential, commercial, and mixed-use projects are likely to consolidate their positions, while emerging players and new entrants contribute to further expansion of the sector’s footprint in India’s economic growth narrative.
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