Gautam Adani tops Hurun Real Estate Rich List:Adani Properties’ value rises by ₹38,000 crore, overtakes Rajiv Singh’s DLF

India’s real estate sector witnessed a major reshuffle in 2026 as Gautam Adani and his family secured the top spot in the Grohe-Hurun India Real Estate Rich List for the first time. The value of Adani Properties increased by ₹38,000 crore this year, helping the group overtake DLF’s Rajiv Singh. Adani Properties emerges as biggest value creator According to the Grohe-Hurun India Real Estate 150 Report 2026, Adani Properties became the biggest value creator in India’s real estate sector this year. The company’s valuation jumped 72.5% year-on-year to ₹90,400 crore. Based in Ahmedabad, Adani Properties climbed four places to become the country’s fourth most valuable real estate company. It also retained its position as India’s most valuable unlisted real estate developer. Adani family ranks No.1 in the rich list for the first time The sharp rise in valuation pushed Gautam Adani and his family to the top of the Hurun India Real Estate Rich List. The family’s real estate wealth increased 73% year-on-year to ₹90,400 crore. The ranking reflects the family’s 100% ownership of Adani Properties. Why did Adani Properties grow so rapidly? According to Hurun, the surge in Adani Properties’ valuation was driven by the Adani Group’s strategic decision to consolidate all its real estate operations under a single platform—Adani Properties. The research firm said India’s richest person is building the country’s largest real estate business through this integrated platform. DLF remains India’s most valuable real estate company While Adani Properties posted strong growth, listed developers had a difficult year. Gurugram-based DLF’s valuation declined 29.3% year-on-year to ₹1.46 lakh crore. Despite the drop, DLF retained its position as India’s most valuable real estate company. Lodha Developers second, Indian Hotels third Lodha Developers ranked second despite a 32.2% decline in valuation to ₹93,700 crore. Indian Hotels secured the third spot with a 13.9% fall in valuation to ₹93,300 crore. OYO (Prism) climbed to fifth place after its valuation surged 106.8% to ₹67,200 crore. Signs of slowdown in the real estate sector Hurun’s report also highlighted a slowdown in India’s real estate sector. The combined valuation of all 151 companies in the ranking increased by only 2% to ₹16.5 lakh crore, marking the slowest growth rate in the nine-year history of the ranking. In comparison, last year’s list recorded 14% growth. Reasons behind the slowdown According to Hurun, the slowdown was mainly due to a 20% decline in the BSE Realty Index. Geopolitical uncertainties and concerns around artificial intelligence (AI) weakened investor sentiment, with the residential real estate segment being the most affected. Only 31 companies registered an increase in valuation this year, while 74 companies saw a decline. The sector created a total value of ₹34,300 crore, sharply lower than ₹1.4 lakh crore in the previous year. Notably, nearly two-thirds of the total value created came from Adani Properties and Prism (OYO), indicating that gains were concentrated among only a few players. What is an unlisted company? An unlisted company is one that is not listed on stock exchanges such as the BSE or NSE, meaning its shares cannot be bought by the general public. Adani Properties is one such company. What is enterprise value? Enterprise value (EV) is a measure of a company’s total financial worth. It is calculated by combining the company’s market capitalisation, debt, and cash holdings to determine its overall value.