Six Hyderabad-based realty entrepreneurs feature in Hurun India Rich List

Hyderabad: In the real estate rich list of 2021, six Hyderabad-based real estate entrepreneurs have been featured with the GAR Corporation’s Amarender Reddy and Family emerging as the wealthiest new entrant in the India list. The real estate group with a wealth of Rs 15,000 crore also occupied the top spot in Hyderabad list and […]

Hyderabad: In the real estate rich list of 2021, six Hyderabad-based real estate entrepreneurs have been featured with the GAR Corporation’s Amarender Reddy and Family emerging as the wealthiest new entrant in the India list. The real estate group with a wealth of Rs 15,000 crore also occupied the top spot in Hyderabad list and ninth spot in the India list of Grohe-Hurun India Real Estate Rich List 2021.

The report ranks the most successful real estate entrepreneurs and inheritors in India, ranked by net worth proportionate to their ownership in their respective real estate businesses. The Grohe-Hurun India Real Estate Rich List 2021 ranked 100 individuals from 71 real estate companies from 14 cities.

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Following GAR Corporation is Aparna Constructions’ Venkateshwara Reddy and SS Reddy who occupied the second spot in Hyderabad with a total wealth of Rs 9,745 crore. Hyderabad, according to the report, is the most preferred destination for IT and pharmaceutical companies and has been experiencing tremendous demand and growth in the realty sector- both residential and commercial.

Other entrepreneurs from Hyderabad who are featured in the list are Rameswar Rao Jupally and family of My Home Group who encompass a wealth of Rs 8,309 crore followed by Manoj Namburu chairman and MD of Alliance Group & Urbanrise with a wealth of Rs 3,300 crores and Suneel Bommireddy vice chairman of Alliance Group & Urbanrise with a wealth of Rs 3,200 crores and GVK Reddy and family with a wealth of Rs 460 crore.

Despite all the news of a slowdown in the sector, some of the key trends in the list indicate a positive future. For instance, the average wealth in the list has increased by 30 per cent to Rs 4,537 crore and the combined wealth of the entrepreneurs grew by 30 per cent compared to 2020.