10 Richest Real Estate Developers in India

Real estate is a popular investment choice for Indians, with numerous companies operating in the country. Indian developers have redefined cityscapes by building iconic homes, commercial complexes, malls, and tech parks. 

With strategic foresight and bold investments, they've turned land into empires worth thousands of crores. 

We've curated a list of the top 10 richest real estate developers in India, their net worth, landmark projects, and their pivotal roles in reshaping the nation's property market and urban lifestyle.

List of 10 Richest Real Estate Developers in India

1: Rajiv Singh

Net Worth: Rs. 1,24,450 Crore

Rajiv Singh, Chairman of DLF, is the richest builder in India with a personal wealth of Rs. 1.24 lakh Crore. Under his leadership, DLF became India's largest listed real estate firm, expanding into 15 states and 24 cities, diversifying geographical risk and creating a national presence.

The annuity business, which started at Rs 1.55 Crore in 2007, experienced a significant increase to Rs 2,900 Crore by 2019, with a comprehensive income of Rs 1,513.51 Crore for the 2021-22 fiscal year.

Singh spearheaded high-end projects like DLF Privana, DLF The Arbour, DLF Siris Estate, and DLF Imperial Residences in Gurgaon. His focus on annuity business growth and expansion into cities like Mumbai and Goa further boosted DLF's valuation. Singh's vision has transformed DLF and redefined luxury living in Indian real estate.

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2: Chandru Raheja

Net Worth: Rs. 42,585 Crore

Chandru Raheja is one of the richest builders in India and has an amassed net worth of Rs. 42,585 Crore. As Chairman of K Raheja Corp, he transformed the company post-1996 into a real estate giant.

Known for developing IT parks under the Mindspace brand and premium malls like InOrbit, his portfolio also includes luxury hotels through Chalet Hotels and projects like K Raheja Vistas Premiere, Stellar, Viva, and Raheja Sterling in Pune.

With sons Neel and Ravi leading operations, the Raheja family continues shaping India’s urban skyline across sectors. In 2024, he was ranked 59th in the Forbes list of India’s 100 richest tycoons.

3: Jitendra Virwani

Net Worth: Rs. 22,545 Crore

Jitendra Virwani, with a net worth of Rs. 22,545 Crore, ranks among the richest developers in India. As Chairman of Embassy Group, he pioneered Grade A business parks and co-working spaces with WeWork India. In 2019, the Embassy and Blackstone, a private equity firm, listed India's first-ever REIT.

His premium projects like Embassy Boulevard, Lake Terraces, Embassy Grove, and mid-range offerings like Embassy East Avenue and Embassy Edge in Bengaluru reflect his dominance.

With over 70 million sq ft developed across India and international markets, Virwani's bold vision and innovation continue to redefine Indian real estate on a massive scale.

4: Raja Bagmane

Net Worth: Rs. 19,600 Crore

Raja Bagmane, Founder of the Bagmane Group, is one of the richest builders in India, with an estimated net worth of Rs. 19,600 Crores.

Since 1996, he has led the group to build landmark commercial spaces like Bagmane Tech Park, Bagmane World Technology Centre, and Bagmane Solarium City in Bengaluru. With active leadership in 29 firms, his real estate influence spans tech parks, SEZs, and sustainable developments.

His strategic innovation has shaped Bengaluru’s IT corridor, making him a key figure in India’s high-value commercial real estate sector.

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5: Niranjan Hiranandani

Net Worth: Rs. 18,000 Crore

With an estimated net worth of Rs. 18,000 Crores, Niranjan Hiranandani is a leading figure in India's real estate sector, Co-founder of the renowned Hiranandani Group.

He began his career as an accounting teacher. In 1985, he bought 250 acres of land in Powai, Mumbai, and started a real estate business named Hiranandani Gardens.

He transformed Mumbai's skyline with landmark projects like Hiranandani Villas and developments in cities like Thane, Panvel, and Chennai. The group's diverse portfolio includes residential projects such as Club Meadows, Evita, and Torino, offering a range of affordable housing.

Hiranandani's influence extends across multiple industries, from education to healthcare, making him a key player in shaping India's urban development landscape.

6: Sushil Ansal

Net Worth: Rs. 3,340 Crore

Sushil Ansal, Chairman of the Ansal API, is among India's prominent real estate developers, with an estimated net worth of Rs. 3,340 Crore. With a legacy spanning over six decades, he developed the iconic Ansal Plaza in 1998.

His key residential projects, like Ansal Lakshya Heights, Misty Homes, Olympus Lake View, and Celebrity Meadows in Sushant Golf City, Lucknow, cater to a broad market range. 

From affordable to premium, his developments reflect his vision and scale. His wealth stems from strategic urban expansions and landmark infrastructure, making him a key name in India's real estate elite.

7: Mangal Prabhat Lodha

Net Worth: Rs. 951 Crore

Mangal Prabhat Lodha, one of the richest real estate developers in India, is the Founder of Lodha Group (formerly Macrotech Developers) and has a net worth of Rs. 951 Crore. Lodha has served as the MLA for the Maharashtra Vidhan Sabha, representing the Malabar Hill constituency for five consecutive terms since 1995.

In 1981, he relocated to Mumbai and established the Lodha Group. Now, the company is led by his son Abhishek, while his younger son runs Lodha Ventures and The House of Abhinandan Lodha.

In 2021, Lodha Developers' shares started trading on the National Stock Exchange and the Bombay Stock Exchange. In 2024, Lodha secured 19th place on Forbes' list of India's 100 richest individuals, further solidifying his prominence in the real estate sector.

His major projects include Lodha Corinthia (Bhandup West), Lodha Bellevue (Mahalaxmi), Lodha Riservo (Vikhroli West), and Lodha Vero (Matunga East). 

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8: Vikas Oberoi

Net Worth: Rs. 417 Crore

Vikas Oberoi, with a net worth of Rs. 417 Crore, is a leading figure in India's real estate industry. As the Chairman of Oberoi Realty, he has transformed Mumbai's skyline with premium developments like Oberoi Sky City, Oberoi Elysian, and Oberoi Maxima. 

His portfolio includes high-end residential projects, commercial spaces, and luxury hotels like the Westin Mumbai and the Ritz-Carlton. In 2018, he won Best Successor – 2nd Generation at HT Mumbai Real Estate Awards and was listed in Forbes' 50th place among India's 100 richest tycoons in 2024.

Oberoi's strategic land acquisitions and visionary approach have firmly established him among the richest real estate developers in India. 

9: Ajay Piramal

Net Worth: Rs. 330 Crore

With a net worth of Rs. 330 Crore, Ajay Piramal became one of India's wealthiest real estate developers. As Chairman of the Piramal Group, he diversified from pharmaceuticals to premium real estate projects in Mumbai. 

In 1988, he also acquired the Australian multinational corporation Nicholas Laboratories, making it the fifth-ranked pharma company in India.

Piramal’s landmark developments include Piramal Revanta in Mulund, Piramal Mahalaxmi, offering luxury residences in South Mumbai, and Piramal Aranya, an ultra-luxury project in Byculla. These projects reflect his strategy of blending urban luxury with modern design.

His company has also developed Mumbai's first major mall, Crossroads, and continues to shape the city's skyline with high-end real estate investments.

10: Atul Ruia

Net Worth: Rs. 260 Crore

Atul Ruia has amassed a net worth of Rs. 260 Crore, making him one of the richest real estate developers in India. He transformed his family’s textile business into a real estate empire through The Phoenix Mills.

His portfolio spans major malls like Phoenix Palladium (Mumbai), Phoenix Marketcity (Chennai, Pune, Bangalore), and Phoenix United (Lucknow, Bareilly).

He also owns luxury hotels like the St. Regis Mumbai and Courtyard Marriott Agra. Though he stepped down as MD in 2019, Ruia’s strategic expansion keeps Phoenix Mills central to India’s booming commercial and retail real estate sector.

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Summary

Top 10 Richest Real Estate Developers in India

1. Rajiv Singh - Rs. 1,24,450 Crore (Chairman of DLF)
2. Chandru Raheja - Rs. 42,585 Crore (Chairman of K Raheja Corp)
3. Jitendra Virwani - Rs. 22,545 Crore (Chairman of Embassy Group)
4. Raja Bagmane -  Rs. 19,600 Crore (Founder of the Bagmane Group)
5. Niranjan Hiranandani - Rs. 18,000 Crore (Co-Founder of Hiranandani Group)
6. Sushil Ansal - Rs. 3,340 Crore (Chairman of Ansal API Group).
7. Mangal Prabhat Lodha - Rs. 951 Crore (Founder of Lodha Group)
8. Vikas Oberoi - Rs. 417 Crore (Chairman of Oberoi Realty)
9. Ajay Piramal - Rs. 330 Crore (Chairman of Piramal Group)
10. Atul Ruia - Rs. 260 Crore (The Phoenix Mills)