Last Updated 29 Jan 2021

Major Players in Indian Real Estate Sector

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India’s real estate market is on a high growth curve. The industry is projected to grow to US$50 billion by the end of FY2010 at an average rate of 20%. Looking at the bigger picture, the recession seems like a hiccup. Despite talks of price correction, the worse is definitely behind us. In this feature, we present our list of market leaders. The task was dauntingand complicated. Instead of a list that says India’s Top 20, we divided the players regionally based on their headquarters. Many are national players but some are purely regional players and hence it would be unfair to compare them.

The idea was to identify national as well as local leaders. Of course, all such lists are subject to market dynamics.

TOP REAL ESTATE COMPANIES FROM NORTH

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DLF Ltd Headed by: Dr Kushal Pal Singh, Chairman About: With a track record of 64 years, DLF is India’s largest real estate company in terms of revenues, earnings, market capitalization and developable area. It currently has pan India presence across 30 cities with approximately 238 million sq ft of completed development and 413 million sq ft of planned projects, of which 56 million sq ft of projects are under construction during FY10.

Project Spectrum: Residential, townships, commercial complexes, IT Parks, hotels, multiplexes, etc. Quick fact: Only listed real estate Company included in the BSE Sensex, NSE Nifty, MSCI India Index and MSCI Emerging Markets Asia Index. Latest: Will take its luxury mall DLF Emporio (already operational in New Delhi) to other big cities such as Hyderabad and Chennai.

OMAXE LTD Headed by: Rohtas Goel, CMD About: Over the past 22 years, Omaxe has established itself through diverse range of residential and commercial projects. The company at present has 53 projects under execution and planning.

Omaxe Ltd was the first Construction Company of northern India to receive an ISO 9001:2000 Certification. Project Spectrum: Integrated townships, Group housing, SEZs, Shopping malls & commercial complexes and hotels. Latest: Has entered into infrastructure sector through Omaxe Infrastructure & Construction Ltd (OICL), a wholly owned subsidiary. OICL has bagged the first contract to construct Highway and three high level bridges in Punjab. The contract is awarded by Greater Mohali Area Development Authority and its value is pegged at Rs704 million.

UNITECH Headed by: Ramesh Chandra, Executive Chairman

About: Established in 1972, Unitech is today India’s leading real estate developer in India. It is the first developer to have been certified ISO 9001:2000 in North India. Project Spectrum: Unitech offers diversified projects across residential, commercial/IT parks, retail, hotels, amusement parks and SEZs segments. Unitech was the first real estate company to be part of the National Stock Exchange’s NIFTY 50 Index. The company has over 600,000 shareholders. Unitech and Norway based Telenor Group came together to build Uninor - a telecommunication services company providing GSM services across India.

Latest: Has ventured into the infrastructure business by launching Unitech Infra.

ANSAL API Headed by: Sushil Ansal, Chairman About: Established in 1967 as a family business, Ansal API today is clearly amongst the real estate leaders of India. Having established itself very strongly in the NCR region, Ansal API is now focusing on ventures in cities like Bhatinda, Mohali, Amritsar, Ludhiana, Jalandhar, Jaipur, Jodhpur, Ajmer, Sonepat, Panipat, Karnal, Kurukshetra, Faridabad, Gurgaon, Greater Noida, and Ghaziabad, Meerut, Agra, Lucknow, to name a few.

Ansal API has till date, developed and delivered more than 190 million sq ft. The company currently has a land reserve of about 9,335 acres. Project Spectrum: Integrated Townships, Condominiums, Group Housing, Malls, Shopping Complex, Hotels, SEZs, IT Parks and Infrastructure and Utility Services Latest: Raised Rs231. 4 crore through private placement of shares with institutional investors for reducing its debt and execute ongoing projects.

PARSVNATH DEVELOPERS LTD Headed by: Pradeep Jain, Chairman

About: Incorporated in July 1990 by Mr Jain in New Delhi, Parsvnath today has a substantial pan India presence in over 45 cities across 16 states. The company has emerged as one of the most progressive and multi-faceted real estate and construction entities in India. Project spectrum: Housing (premium, mid-market as well as affordable), office complexes, shopping malls & hypermarkets, hotels, multiplexes, IT Parks and SEZs. Quick fact: First real estate company to have integrated with ISO 9001, 14001 and OHSAS 18001.

Latest update: Has partnered with Red Fort Capital to execute a Concession Agreement with DMRC for development of a prime Grade A office project in New Delhi’s Connaught Place.

TOP REAL ESTATE COMPANIES FROM WEST

GODREJ PROPERTIES LTD Headed by: Milind Korde, MD About: Established in 1990, Godrej Properties Ltd (GPL) brings the Godrej Group philosophy of innovation and excellence to the real estate industry. GPL aspires to be among India’s top three real estate companies while continuing to be the most trusted name in the industry.

GPL has completed several landmark projects and is currently developing significant projects in 11 cities across India. Godrej Properties Ltd is listed on the Bombay Stock Exchange (BSE) and The National Stock Exchange (NSE). Latest: Sold over 200 apartments within 2 days of launch of its project Godrej Frontier in Gurgaon. This is the company’s first residential project in northern India.

K RAHEJA CORP Headed by: Chandru L Raheja, Chairman About: Incorporated in 1956, this Mumbai based real estate giant has been engaged in real estate development for more than four decades.

K Raheja Corp has built residences, commercial buildings and hotels throughout India. The Group also diversified in the hospitality sector in 1981and in the retail sector in 1991. The company has several landmark projects to its credits across cities. Quick fact: K Raheja Corp has given a firm commitment to have all of its future projects undertaken anywhere in India to be Leed Certified Green Building Projects.

OBEROI REALTY LTD Headed by: Vikas Oberoi, CMD About: Founded in 1998, the company was recently in limelight for its IPO.

The Company’s consolidated total income and consolidated net profit after tax and prior period items as restated were Rs8,054. 95 million and Rs4,576. 20 million for the year ended March 31, 2010 and Rs 1658. 27 million and Rs797. 96 million for the three months ended June 30, 2010. The company has presence in Mumbai and Pune. Project Spectrum: Oberoi Realty focuses on premium, single space and mixed used development across residential, office space, retail, hospitality and social infrastructure segments.

KALPATARU GROUP Headed by: Mofatraj P Munot, Promoter

About: Established in 1969, Kalpataru is one of the leading real estate development groups in India. The Group has been active primarily in the Mumbai Metropolitan Region (MMR) & Pune. It is also undertaking projects in other key cities such as Hyderabad, Surat, Nagpur, Jaipur and Udaipur. The Kalpataru Group has interests in real estate development, property and project management, engineering, procurement and construction (EPC) contracting for power transmission and infrastructure projects including road projects, warehousing and logistics.

Project Spectrum: The focus has been on the development of premium residential, commercial, retail, integrated townships, lifestyle gated communities and redevelopment projects.

DB REALTY Headed by: Vinod Goenka and Shahid Balwa About: It is one of India’s fastest growing real estate companies headquartered in Mumbai. The Company currently has more than 30 ultra premium projects under various stages of planning and also completion in both Mumbai and Pune. It has 20. 5 million sq ft of saleable area of ongoing projects with a projected area of 40. 5 million sq ft in forthcoming and upcoming projects.

DB Realty is publicly listed company both on BSE and NSE with a market capitalisation of more than Rs10000 crore. Latest: Few months ago, it bagged the right to redevelop a large chunk of the 100-acre PWD government colony in Mumbai’s Bandra suburb. This will be one of the biggest redevelopment projects in the city.

TOP REAL ESTATE COMPANIES FROM SOUTH SOBHA DEVELOPERS LTD

Headed by: PNC Menon, Chairman About: The Company was founded in 1995 by PNC Menon after he returned home from the Middle East where he was acclaimed for quality interiors and construction since 1977.

Today, this Rs10 billion plus company is one of the largest and only backward integrated company in the construction arena. Its IPO in 2006 was oversubscribed by 126 times that created history, being the first event of its kind in Indian capital markets. Till date, Sobha has completed 47 residential projects, 13 commercial projects and 166 contractual projects covering about 36 million sq ft area in 18 cities across India (as of 31 March 2010). The company currently has 21 ongoing residential projects aggregating to 8. 5 million sq ft, while 4. 4 million sq ft of contractual projects are under various stages of construction.

BRIGADE GROUP Headed by: MR Jaishankar, CMD About: Established in 1986, Brigade is one of South India’s leading property developers. It is headquartered in Bangalore with projects extending across several major cities in South India like Chennai, Chikmagalur, Hyderabad, Kochi, Mangalore and Mysore. Project Spectrum: Brigade has a multi-domain portfolio that covers property development, property management services, hospitality and education.

Latest: Brigade recently obtained the license from the World Trade Centers Association to classify and manage its one million sq ft office tower in its mixed use project Brigade Gateway as ‘World Trade Centre Bangalore.

PURAVANKARA GROUP Headed by: Ravi Puravankara, Founder and CMD About: Established in 1975, the Group has grown to be one of the leading real estate developers of the country, primarily in the premium housing segment. It has projects across cities like Bangalore, Chennai, Kochi, Coimbatore, Hyderabad, Mysore, Kolkata and Colombo. The Group also has a presence in Dubai, UAE.

With a land bank of over 125 million sq ft, the Group has above 20 million sq ft of residential and commercial space currently under construction. Latest: Recently launched Purva Venezia that recreates the beauty of Venice at Yelhanka in Bangalore.

NITESH ESTATES Headed by: Nitesh Shetty, MD About: Founded in 2004, Nitesh Estates is an integrated property development company headquartered in Bangalore. Project Spectrum: In just six years, the Company has brought more than nine million sq ft of space under development across housing, hotels, office buildings and shopping malls.

The company is growing even faster with plans to expand its operations in other cities like Goa, Chennai, Hyderabad and Kochi. Nitesh Estates has to its credit a series of firsts: the first to win India’s largest corporate housing project (ITC Limited), one among the first few to attract FDI in real estate (Och Ziff and Citigroup) and has the distinction of bringing to India it’s very first Ritz Carlton. It has 27 ongoing and forthcoming projects in and around Bangalore and Goa. It has land bank of 19 million sq ft, which will be developed in the next 4-5 years.

PRESTIGE ESTATES PROJECTS LTD Headed by: Irfan Razack, CMD About: Founded in 1986, Prestige has completed more than 142 projects and has 59 ongoing projects. The company has presence in Bangalore, Chennai, Hyderabad, Kochi, Mysore as well as Goa. Project Spectrum: Develops projects across segments like residential, commercial, integrated township, retail, leisure & hospitality and mixed-use. Latest: Prestige raised Rs12 billion rupees through its IPO recently.

TOP REAL ESTATE COMPANIES FROM EAST

AMBUJA REALTY Headed by: Harshavardhan Neotia, CMD

About: Ambuja Realty has been providing housing in West Bengal, in a pioneering joint venture with West Bengal Housing Board for the past 15 years under the name Bengal Ambuja. The first real estate company in Eastern India to get ISO: 9002 Certification, in 1999, Bengal Ambuja has also earned them the highest developer rating in India - DRI from ICRA, in 2003. Project Spectrum: The Group has a diversified presence across segments like residential, retail, commercial and hospitality. The company is also planning an aggressive pan-India growth strategy to deliver an unprecedented number of high-quality projects.

Currently, it is building more malls, hospitals, IT Parks, luxury resorts, business hotels and are even aspiring to build a University. Latest: To invest around Rs500 crore in developing three shopping malls under the ‘City Centre’ brand in Raipur, Haldia and Patna. MERLIN GROUP Headed by: Sushil Mohta, MD About: Merlin Group is a recognized name in the realty business of India’s eastern parts. The Group has grown over past three decades with over 50 residential and commercial complexes as well as several standalone projects.

Project Spectrum: Merlin Group has innovated with various formats and core projects including premium housing, essential housing, country homes and bungalows, specialty malls, office towers, IT buildings, hotels new generation clubs, and resorts, serviced apartment’s stadium and townships. It also has presence in other parts of India with its various residential and commercial projects at Chennai, Chhattisgarh and Ahmedabad. PS GROUP Founded by: Pradip Kumar Chopra & Surendra Kumar Dugar About: Today, the original pair of founders has grown into a group of seven players, with the second generation joining the business in right earnest.

Project Spectrum: PS Group is involved in the development of premium residential complexes, integrated townships, commercial buildings, hotels, IT parks and a wide range of shopping malls. The company already has completed 100 projects with Trinity Plush and intends to complete another 50 projects in the next two years. HILAND GROUP Headed by: Nayan Basu, CEO Credited with more than 50 multi-storeyed landmark developments adorning the skyline of Kolkata, the Hiland Group has today emerged as one of the most prominent developers in Kolkata.

Latest: The Group has also entered into a 50:50 joint venture with West Bengal Housing Board to form Bengal United Credit Belani Housing Ltd. Hiland Woods is the key project of this joint venture. It is a residential development catering to a mix of demographic profiles across LIG, MIG and HIG. BELANI GROUP Headed by: Nandu Belani About: The Company commenced operations in Kolkata in 1967 and has pioneered the business of building, promoting and developing high-rise apartments and commercial buildings in the city over the last four decades. Some of the key rojects done by this Group are Metro Towers, IDBI Building, British Deputy High Commission, Belmont Apartments, East End Gardens, Neelkamal , Shakespeare Court, Greenwoods and Palacio. The Group has presence across segments like integrated townships, residential, commercial, retail and hospitality.

TOP REAL ESTATE COMPANIES TO WATCH OUT FOR

We wind up our feature with five names to watch out for.

TATA HOUSING DEVELOPMENT COMPANY Headed by: Brotin Banerjee, MD & CEO About: Tata Housing is a closely held Public Limited Company and a subsidiary of Tata Sons Ltd.

Since it’s revival in 2006, Tata Housing has been focused on developing and transforming real estate development in India. With the primary business being the development of properties in residential, commercial and retail sectors, the company’s operations p across various aspects of real estate development. With existing presence in Mumbai, Goa, Chandigarh, Bengaluru, Gurgaon, Pune, Lonavala, Talegaon and Kolkatta, the Company is in the process of expanding its projects to other parts of India across tier I and II cities.

Latest: Has announced aggressive growth plans to invest over Rs2500 crore in the affordable and value homes segment by 2011.

SUNIL MANTRI REALTY LTD Headed by: Sunil Mantri About: With substantial presence across residential, retail, commercial, office, IT parks and SEZ development, this Company is poised on the cusp of rapid growth and expansion into newer territories. The company is now poised to diversify into hospitality and financial services sector in a significant way. With 300% growth recorded in the past three years, the company is one of the fastest-growing real estate companies in India.

From a presence in 2 cities, it has grown miraculously to 14 cities in India and is venturing into Malaysia to build an ICT centre in Johor.

LODHA DEVELOPERS Headed by: Abhisheck Lodha, MD About: Founded in 1980, Lodha Developers are primarily Mumbai based with some presence in Pune and Hyderabad. Lodha Developers provides comprehensive residential and office space solutions across real estate categories and diverse consumer segments - from luxury garden residences in South Mumbai to large integrated townships in the suburbs, from thoughtfully designed office environments to private villa retreats.

The group has extended this philosophy to office spaces as well, where it was one of the first in India to introduce the concept of branded office spaces. Latest: Announcement of World One, a landmark development on a 17 acre site, slated to be the tallest residential development in the world.

AKSHAYA PRIVATE LTD Headed by: T Chitty Babu, Chairman & CEO About: Headquartered in Chennai, Akshaya has successfully completed over 148 landmark projects in a short period of 15 years.

Akshaya is one of the few CRISIL rated organizations in Chennai’s real estate space. Akshaya’s excellence in its endeavours has also resulted in the Integrated ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007 Management System. The Integrated Management System Certification, incidentally, has been conferred on only 11 companies in India. Akshaya also achieved the feat of being one of the two companies in our country to win the SA 8000:2008 Certification (the global social accountability standard for creating employee-friendly workplace).

Akshaya is now foraying into commercial and IT space while envisioning state-of-the-art shopping malls and diversified operations in other parts of South India. Latest: Recently launched its luxury project, 36-Carat, which became the only project in Chennai to get the coveted ‘Chennai-5 Star’ rating.

THE 3C COMPANY Headed by: Three directors including renowned architect Vidur Bharadwaj About: Founded in: 2007, The 3C Company has presence in the Delhi NCR. The Company stands apart due to focus on designing and developing green projects with on schedule delivery.

Its USP of developing environment friendly designs has helped it carve a niche in the real estate segment. The Company is currently developing projects worth over Rs15000 crore. Project Spectrum: The 3C Company has presence across segments such as residential, commercial, IT Parks and SEZs. Latest: After the success of three green projects, it announced the launch of another green residential project called Lotus Zing. It has tied up with Kotak Real Estate Fund for this project, which has a total capital outlay of Rs850 crore.

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