Skip to content
Search AI Powered

Latest Stories

MP Lodha India's richest real estate tycoon with £3.42bn: Report

LODHA Developers' MP Lodha and family has been named India's richest real estate entrepreneur with a wealth of Rs 319.60 billion or £3.42bn, a report showed on Monday (9).

He is followed by DLF's Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively, according to the data released.


Hurun Report and GROHE India released the third edition of 'GROHE Hurun India Real Estate Rich List 2019'- featuring the richest real estate entrepreneurs in India.

"With a wealth of Rs 31,960 crore (Rs 319.60bn), Mangal Prabhat Lodha & family of Macrotech Developers (earlier named Lodha Developers) retained the top spot in GROHE Hurun India Real Estate Rich List 2019 for the second consecutive year," the report said.

Lodha family's wealth increased by 18 per cent during 2019 and was 12 per cent of the cumulative wealth of the remaining 99 Indians featured on the list.

"At number two is Rajiv Singh of DLF (up one rank) with a wealth of Rs 250.80bn up 42 per cent as compared to 2018," the report said adding that Jitendra Virwani of Embassy Property Developments bagged the third spot with a wealth of Rs 247.50bn.

The list was based on a snapshot of wealth as on September 30, 2019.

In the rich list, Hiranandani Communities group's Niranjan Hiranandani is at the fourth position with Rs 170.30bn of wealth, followed by K Raheja's Chandru Raheja & family (Rs 154.80bn), Oberoi Realty's Vikas Oberoi, and Bagmane Developers' Raja Bagmane.

Surendra Hiranandani, House of Hiranandani Singapore, was ranked 8th, while Subhash Runwal & family of Mumbai-based Runwal Developers was at 9th place followed by Piramal Realty's Ajay Piramal & family in the 10th position.

As per the report, Mumbai accounted for six of the top 10 and 37 of the 100 names being its residents.

Delhi and Bengaluru accounted for 19 residents each featured on the List.

Interestingly, 3/4th of the richest Indians from the real estate sector are based in these three cities.

More For You

FCA warns against regulatory 'race to bottom' in growth push
Nikhil Rathi
TOLGA AKMEN

FCA warns against regulatory 'race to bottom' in growth push

FINANCIAL REGULATOR has cautioned against compromising regulatory standards while attempting to boost economic growth, revealing the delicate balancing act facing Britain's financial oversight.

In a frank discussion with MPs, the Financial Conduct Authority (FCA) leadership highlighted the challenges of their expanded mandate to promote business competitiveness alongside consumer protection, reported the Times.

Keep ReadingShow less
Sanjay Bhandari's extradition appeal opens in London
Sanjay Bhandari

Sanjay Bhandari's extradition appeal opens in London

SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

Keep ReadingShow less
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)

Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

Keep ReadingShow less
Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.

Keep ReadingShow less
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)

India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

Keep ReadingShow less