Category: Economy

There is a steep fall seen in China’s economic market as compared to the first three months of the current year. This growth has halved in this quarter. The recovery momentum was highly affected by the slow manufacturing, higher costs of the raw materials and new      COVID-19 outbreaks. It was expected to rise by 8.1% in a Reuters poll of economists.

After the COVID-19 crisis, the world’s second-largest economy bounced strongly but experts suggest some loss to be momentum. Quarterly Gross domestic product (GDP) in the April-June period expanded to 7.9%, the National Bureau of Statistics said it just beat the 1.2% rise in the Reuters poll.

The investors of the central bank are waiting for an easier policy stance after the People’s Bank of China announced a move regarding the cut in the amount of cash that the bank will be holding as reserves. The amount of about 1 trillion yuan ($154.64 billion) in long-term liquidity to bolster the recovery. The Reuters poll expects a further cut in the bank reserve requirement ratio (RRR) in the fourth quarter. The growth significantly slowed from a record 18.3% in the first period of January-March. The senior economist for Asia states that it is because demand for the U.S. inventories is at its peak.

The Biden administration vowed that they have “Australia’s back” to push back against China’s “unfair” trade practices. The Morrison government seeks international support on Australian wine to fight against Beijing’s tariffs.  Australia is yet to receive the request to join the consultation on the more recently launched challenge against China’s tariffs on Australian wine.

European Union is also set to join the third party if the dispute between Australia and China moves to another level at the World Trade Organization. Australia has larger trade litigation specialists according to the trade experts. The dispute seems to be more complicated than just the tariff fight. If this case remains, Australia stands to gain an advantage from the involvement of the European Union and the United States Of America.

For imposing hefty tariffs on Australian barley the EU, US, United Kingdom and Japan have already joined the WTO case as the third parties. Beijing’s relationship with Australia deteriorated last year as a series of trade actions were taken by them. China’s claims were denied by the Australian government about the “dumping” of products at low cost on the Chinese market and propping up the sectors with unfair subsidies.

An emergency summit in Jakarta was attended by the team member states of Association of South East Asian Nations (ASSEAN) including Myanmar addressed the ongoing crisis in Myanmar since February 2021 coup by its military. Since the coup, the junta has taken over the country’s governance, over 700 people had lost their lives, thousands of civilians have been arrested, & the country has been trying to disintegrate the civil conflict. Consensus reached by the participating countries in the emergency summit is for 5 key points. It is an important way forward for dealing with the fallout of military coup.

Firstly, the initiative calls for immediate cease of violence in the country. Secondly, a discourse among the stakeholders is required for the peaceful solution of the crisis through constructive dialogue. Third, appointment of special envoy by ASEAN Chair to mediate in the country’s crisis. Forth, the ASEAN organization will offer humanitarian assistance to the country & last, the special envoy & a delegation will be allowed to travel to meet all the stakeholders in the crisis.

India’s Most Influential Real Estate Brands & Leaders 2020-21 by Wealth

Listing of Top 50 Real Estate Brands and Leaders

by AsiaOne Magazine & URS International Media

 About AsiaOne

AsiaOne is an international media house and the only Business & News magazine with a pan-Asia presence. We are the pioneers, and now experts, of research-based listing of Brands & Leaders in Asia, Africa and the GCC. We supplement our listing with National & International Business & Social Summits and Awards functions.

As India has progressed to become the fastest growing economy in the world, our various research titles and awards represent a celebration of the indomitable spirit of India. We intend to bring to fore those eminent leaders and brands who have not only been contributing to the Indian economy but also to the society and world at large. For the fact that India has become a robust economic region, the credit goes to steely resolves, innovations, and consequent achievements of some of the greatest Indian leaders. With every Edition, we have been offering higher visibility to the Indian brands and leaders which are equally impactful as brands and leaders from the western developed countries, through our several prestigious mediums including our Magazine, Coffee Table Book, various websites, Android & iOS Apps.

AsiaOne magazine is now in its Fourteenth Edition of Awards along with over 8000 pages of original content with a B2B readership of over 1,50,000 in 12 countries of Asia Middle East & Africa, we have been successfully bridging an important gap between the actual presence of the Indian, Asian and African brands and their recognition and image in the minds of the general public, thus offering higher visibility to brands and leaders which are equally impactful as brands from the western developed countries, through our several prestigious mediums including our Magazine, Coffee Table Book, Television Broadcast, various websites, Android and iOS Apps. Our online versions are www.asiaone.co.in /.me and www.theindiasgreatestbrands.com. Now we are also available on Android & iOS mobile Apps with access to 2 billion smartphone users across the world.

The Covid-19 pandemic has had a huge impact on the socio-economic fabric of the world. However, despite the numerous challenges it has posed, the adversity has also thrown open umpteen opportunities. We, at AsiaOne, intend to bring to fore and recognize such Leaders who have perceived the current challenging times as an opportunity to rise above the rest and have thereby led the Brands by their exemplary resolve and have also contributed to the revival of the economy and collective welfare of society, nation and the Asian and African continent at large.

The Booming Indian Realty Sector: An Introduction

The Real Estate sector in India holds immense potential and boundless opportunities for growth. In fact the real estate market in India is the second-highest employment generator in the country after agriculture. Interestingly, the sector accounts for 6-7 per cent of the economy and is interlinked to as many as 250 allied sectors. It is estimated that the Realty sector in India will contribute 13% to the country’s GDP by 2025 and is expected to reach US$ 1 trillion by 2030. DLF Ltd. and Macrotech Developers Ltd. (Lodha Group) have been consistently displaying a legacy of excellence in the real estate sector of India and are an inspiration for umpteen other players. Young leaders with a quest for excellence, like Manoj Namburu and Suneel Bommireddy of Alliance Group and Urbanrise have grown immensely in the last few years. Their magnificent projects in Chennai and Hyderabad are indicators of architectural excellence. Another brand which is rapidly rising up on the popularity charts is Emaar India Ltd. Having started its operations in India in 2005, Emaar has created a portfolio of world-class living spaces and work environments in Gurugram, Delhi, Mohali, Lucknow, Jaipur, Indore and Chennai and has developed over 11,500 residential and commercial units, and currently its 8,500 units are under development.

The sector is also expected to attract more non-resident Indian (NRI) investment, both in the short term and the long term. The city of Bengaluru is expected to be the most favoured property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and Dehradun. In the second half of 2020, Housing launches were 86,139 units across the top 8 Indian cities. Home sales volume across 8 major cities in India jumped by 2x to 61,593 units from October 2020 to December 2020, compared with 33,403 units in the previous quarter, signifying healthy recovery post the strict lockdown imposed in the second quarter due to the spread of COVID-19 in the nation. It is estimated that about 3 houses are built per 1,000 people per year as compared to the required construction rate of 5 houses per 1,000 population. The current shortage of housing in urban areas is estimated to be around 10 million units. Thus, to meet the requirements of the country’s growing urban population, an additional 25 million units of affordable housing are required by 2030. With the increasing demand in the housing segment, the realty sector is projected to become a major wealth creator in the forthcoming decades.

The Current Scenario

In the first quarter of the year 2021, the demand for India’s residential real estate has surpassed pre-COVID levels. Cities such as Ahmedabad and Greater Noida have recorded 7 per cent and 13 per cent quarterly growth, respectively. Despite the pandemic, the City of Nizams, Hyderabad continues to witness consistent price growth in the realty sector. The average rate of newly-launched projects in Hyderabad increased 5 per cent, year-on-year during October-December 2020. Thus, due to a consistent increase in average rates, property prices are the highest in this pharmaceutical hub, presently. Hyderabad has also reported the maximum increase of 39 per cent year-on-year growth in housing sales during the January-March 2021 period. The cities of Bengaluru and Chennai have also witnessed a 2% annual increase in average values.

The supply has witnessed a growth of 8 per cent on a pan-India level. The residential real estate market has been recovering well from the impact of the COVID-19 pandemic and buyer-search volumes have been moving consistently upwards for both buy and lease since the last quarter of 2020. A plethora of factors such as reduced home loan interest rates, reduction in stamp duty, and discounts offered by developers have made home buying an attractive proposition in the country.

Support offered by the Government

The structural reforms by the government such as GST and RERA and added liquidity in the banking system have restored buyer confidence in the real estate sector and the market has been making rapid strides in the past few years with these reforms. But mid-2020 posed a tough challenge for the industry with the imposition of the national lockdown. However, with support from the government and RBI, the real estate industry and developers eventually got back on the road to recovery by the end of the year 2020. Positive sentiment visible across the economy, and GDP showed visible signs of growth through a V-shaped recovery. Time and again, the government has been rolling out a number of measures to revive the sector and economy at large. In its bid to help the real estate sector survive this unprecedented health crisis, the Centre did announce various measures. Some of these include invoking the ‘Force Majeure’ clause under the RERA to extend project completion deadlines by 6-9 months, the extension of interest subsidy for the middle-income group, and relaxing tax rules to allow sales of homes valued up to INR 2 crore at a 20% discount to circle rate. These measures by the government definitely enthuse positivity and the industry eyes growth ahead and is optimistic of an unprecedented recovery.

Innovation: The Need of the Hour

In order to attract buyers at large, the developer community should not only focus on creating projects with basic amenities but also provide additional features as per their changing customer requirements. The pandemic has changed homebuyers’ expectations as many are working from home and preferring bigger houses with an extra room. Today, larger residences are in demand more than ever. In fact, there has been a more than 40% rise in demand for three and four BHK units in H2, 2020 as compared to H1, 2020. The lockdowns have taught people the importance of maintaining a healthy lifestyle, and this aspect should be utilized by developers. Providing basic amenities focused on health and lifestyle would not only ensure the safety of the consumers, but would also enable faster decision-making in terms of buying a property.

In addition, realtors eyeing for an uptick in sales will have to lure the buyers with a host of offers. These may comprise zero stamp duty and registration charges at the time of home booking (to be recovered on possession), buy now and pay stamp duty later, attractive subvention schemes, EMI holiday scheme (involving no payment or EMI until possession of the project), and attractive home loan schemes from the developer. Further, developers’ offers and discounts by way of consumer durables, home furnishings, modular kitchen, furniture, and gold coins on purchase of the unit may result in higher sales.

The Concept: Highlighting the Maestros of Realty Sector

India’s Most Influential Real Estate Brands & Leaders 2020-21 by wealth is AsiaOne’s attempt to showcase the extraordinary vision, unceasing optimism and matchless innovation of major real estate leaders across India through which they have been consistently turning adversity into opportunity and taking their brands to greater heights despite the prevailing COVID-19 pandemic. India’s Most Influential Real Estate Brands 2020-21 and India’s Top 50 Real Estate Leaders by Wealth is one of the most authentic listings by an esteemed jury panel comprising various industry experts and researchers from different industries. The criteria of selection of these top 50 winning Brands & Leaders (each) from the Real Estate Sector is the annual Revenue and Net Worth of the Leaders coupled with few other parameters like Brands’ and Leaders’ Innovation, Impact, Growth, Promise and Popularity. The final list is obtained after the brands and leaders are thoroughly scanned, researched, understood and after much deliberation by a competent team of experts, put on deserving pedestals for the admiration and veneration of the world. All the selected brands and leaders will be featured in AsiaOne magazine, uploaded on AsiaOne’s website and promoted through the top social media platforms namely Twitter, LinkedIn, Youtube, Facebook and Instagram.

AsiaOne List of top 50 Real Estate Brands and Leaders 2020-21 by Wealth

AsiaOne List of Top 50 Real Estate Brands and Leaders 2020-21 by Wealth has been created on the basis of the valuation of top real estate brands and leaders. Despite the fact that there might have been inadvertent omissions, the list is the most authentic attempt to identify India’s top real estate leaders and to measure their holdings’ value.

Both primary and secondary research has been conducted to arrive at the findings. Total assets value has been considered in many cases of listed companies. Also, declared net worth by the leaders and the companies in other prestigious forums and platforms have been considered after further discussions. The latest available financial reports were used to arrive at the valuation. AsiaOne List of Top 50 Real Estate Brands and Leaders 2020-21 by Wealth has been compiled on the basis of the valuation of real estate business owned by the leaders; the personal liabilities or debt of the leaders have not been considered for the net worth calculation. In certain cases, a comparative analysis and valuation have also been done on the basis of the last few years of business activities and transactions undertaken by the group and the leader for approximately estimating the values.

Pan India Findings

1. The first spot on the list has been occupied by Rajiv Singh, 61, of DLF (Delhi Land & Finance) Ltd. who encompasses a wealth of INR 42,163 crores. The internationally renowned firm DLF Ltd. was established in 1946 by Chaudhary Raghvendra Singh. Its first project involved construction of 22 urban colonies in Delhi. It expanded its operations to the then-unknown region of Gurgaon (present-day Gurugram) in the year 1985 and since then there has been no looking back!  It has been efficiently creating exceptional living and working spaces for the new Indian global professionals. Today, DLF Ltd. has established itself as an organization to reckon with in the realty sector with its focus on customer-centricity, quality and sustainability.

• Mangal Prabhat Lodha, 65, of Macrotech Developers Ltd. (Lodha Group) stands second on the list with a wealth of INR 31,968 crores. With its headquarters in Mumbai, Lodha Group has a remarkable presence in India, Dubai, United Kingdom, Singapore and the United States. Since its establishment in 1980, the Group has been efficiently creating landmarks that meet global standards. It has played a significant role in not only transforming the skyline of Mumbai but also crafting some of the most appealing residences in London.

• Chandru Raheja, 80, of K Raheja Corp Pvt. Ltd. occupies the third spot in the list, with a current wealth of INR 21,000 crores. Driven with a vision to be a trusted player in the realty industry, K Raheja Corp Pvt. Ltd. has been efficiently creating enduring experiences for customers, partners and employees alike. Committed to sustainable development, it signed an MoU with the CII-Green Building Council to construct green buildings, way back in 2007. Besides its eco-friendly constructions, it is committed to developing large, green expanses across the nation. For its outstanding contribution to the realty sector, the brand has been recognized with awards across various prestigious forums. In addition, its buildings have received Gold and Platinum LEED ratings.

• The fourth spot is taken by Dr. Niranjan Hiranandani, 70, Hiranandani Developers Pvt. Ltd., whose real estate business registered a valuation of INR 20,600 crores. Hiranandani Developers Pvt. Ltd. is renowned for creating luxurious, integrated, self-sustaining townships that combine prime location, sound infrastructure and world-class amenities, with an aim to enhance economic prosperity and generate tremendous value for all the stakeholders. Dr. Niranjan Hiranandani’s ‘Magic Mantra’ for success is “sincerity and commitment with consistent efforts.”

• Irfan Razack, 67, of Prestige Estates Projects Ltd. ranks fifth on the list with a wealth of INR 19,589 crores. Over the last decade, Prestige Estates Projects Ltd. has firmly established itself as one of the leading and most successful developers of real estate in India by imprinting its indelible mark across all asset classes. Founded in 1986, the firm has been rising up the success ladder under the leadership of the CMD Irfan Razack. By mid-2020, it had completed 247 projects covering 134 million sq. ft., and currently has 45 ongoing projects covering over 53 million sq. ft., 56 M sq. ft. of upcoming projects, and holds a land bank of 262 acres with potential developable area of 27 M sq. ft.

• With a wealth of INR 19,421 crores, Jitendra Virwani, 55, of Embassy Office Parks REIT Ltd. stands sixth on the list. Embassy Office Parks REIT Ltd. accords paramount importance to ensuring the safety, health and well-being and business continuity of its park occupiers. Thus, at Embassy, every effort is made to align its business activities with the global sustainability goals and the sustainability commitments of its occupiers. A large number of its parks are ISO 9001, 14001, 45001 certified and the firm intends to get the entire portfolio certified by the end of this year. A majority of its properties are Platinum or Gold certified Green building/campus. Presently, it is also ensuring that all its new developments are LEED Gold certified.

Major City-wise Segregations

1. Mumbai

Popularly known as the ‘City of Dreams,’ Mumbai, the financial capital of India is its largest city. It is renowned for the iconic Gateway of India stone arch, built by the British in 1924. The real estate sector has played a significant role in the infrastructural development of the city. Greater Mumbai and Navi Mumbai are listed among the top 10 ranked cities among 111 cities, in the Ease of Living Index launched by the Union Ministry for Housing and Urban Affairs. It is an indicator of the quality of citizens’ lives in major cities across four main pillars namely economic ability, sustainability, citizens’ perceptions and quality of life. These pillars encompass 14 different categories such as housing, economic opportunities, green spaces, and even city resilience. Thus, Mumbai fares reasonably well on these parameters and has emerged as one of the most sought-after metropolises. The top 6 real estate brands and leaders in Mumbai are described below.

1. With a wealth of INR 31,968 crores, Mangal Prabhat Lodha, 65, of Macrotech Developers Ltd.  (Lodha Group) occupies the number one slot in the list. With a vision of building a better world, Lodha Group has been creating landmarks which meet global standards. The brand has not only built one of India’s most iconic landmarks, but has also crafted some of the most magnificent residences in London. It takes pride in having delivered projects amounting to 7.7 crore sq. ft. of area. Currently, its 7.4 crore sq. ft. developable area is under construction and planning stage.
2. Chandru Raheja, 80, of K. Raheja Corp Pvt. Ltd. takes the second spot in the list with a current wealth of INR 21,000 crores. K. Raheja Corp Pvt. Ltd. has made a significant contribution in evolving modern-day living by building alluring residences, adaptive workplaces, magnificent hotels and convention centers and excellent retail destinations. Each of its offerings is unique as the firm focuses on delivering aspirational spaces with distinct characteristics and attributes. The company has performed exceptionally well in the green development sector as well.
3. The third spot is occupied by Dr. Niranjan Hiranandani, 70, Hiranandani Developers Pvt. Ltd., whose real estate business registered a valuation of INR 20,600 crores. A pioneer in developing global community townships, Hiranandani Developers Pvt. Ltd. has been efficiently transforming landscapes in Mumbai. Besides having redefined the real estate industry through its astonishing township projects, the company is accredited with beautifying skylines in Powai and Thane; and Panvel, Chennai, Ahmedabad and Pune are soon to follow suit.
4. With a wealth amounting to INR 15,330 crores, Vikas Oberoi, 51, of Oberoi Realty Ltd. ranks fourth on the list. Over the past 3 decades, Oberoi Realty Ltd. has developed over 42 projects aggregating about 11.89 M sq. ft. of space at strategic locations across the island city of Mumbai. Its upcoming projects in various parts of Mumbai and other regions encompass around 38 million sq. ft. of area. It focuses on innovation, contemporary architecture, strong project execution and quality construction to create spaces that enhance the lives of the inhabitants.
5. Adi Godrej, 79, of Godrej Properties Ltd. ranks fifth on the list with a wealth of INR 14,942 crores. Established in 1990, Godrej Properties Ltd. has made its presence felt in the realty sector. The firm is currently developing projects that are estimated to cover over 89.7 M sq. ft. Its commitment to sustainability is explicit from the fact that many of its projects have received LEED Platinum certifications. Ahmedabad-based Godrej Garden City township project was selected as one of only 2 projects in India and 16 worldwide by The Clinton Foundation to collaborate towards achieving a climate positive development.
6. The sixth spot is taken by Subhashchandra S Runwal, 78, Runwal Developers Pvt. Ltd., whose real estate business registered a valuation of INR 11,800 crores. Established in 1978, Runwal Developers Pvt. Ltd. is one of Mumbai’s premier real estate developers. It primarily operates in the residential, commercial and organized retail verticals. It takes pride in a robust track record of 51 delivered projects with over 20,000 happy families, and also owns and manages the largest retail mall chain in Mumbai with over 2 M sq. ft. of GLA. Presently, it manages a portfolio of 14 ongoing projects with almost 11 M sq. ft. under development across Mumbai and the MMRDA region.

• Delhi-NCR

The historic city of Delhi is famous for architectural design and building during the period of the British Raj (known as Lutyens’ Delhi). Delhi NCR covers the entire National Capital Region (NCR) comprising the neighbouring cities of Delhi namely Gurugram (erstwhile Gurgaon), Ghaziabad, Noida, Greater Noida, Faridabad and Sonepat along with Delhi. It is one of the largest real estate markets in the nation, offering a varied mix of property segments and different micro-markets across the region. Of the 49 cities in the ‘million-plus population’ category, ranked on the Ease of Living index by the Union Government, Delhi figures at the 13th spot. The top 6 real estate brands and leaders in Delhi-NCR are given below.

1. The first spot on the list for Delhi-NCR has been occupied by Rajiv Singh, 61, of DLF Ltd. who possesses a wealth of INR 42,163 crores. Having started its operations in 1946, DLF Ltd. has passed the test of times and has evolved into a globally-recognized brand. DLF Ltd. is deeply committed to the health and prosperity of its customers, partners, employees, and shareholders – this is all the more explicit from the fact that it is the only company globally to have won 11 ‘Sword of Honor’ awards from the British Safety Council. It has also received LEED Certification from the US Green Building Council for 2.64 M sq. m. area (around 80 percent of its rental portfolio). Its efforts towards consistent innovation for creating safer workplaces, smarter cities, and sustainable communities across the nation bore fruit when a number of its residential communities were recently awarded LEED Gold certification.
2. With a wealth of INR 14,600 crores, Navin M Raheja, 65, of Raheja Developers Ltd. ranks second on the list. Established in the year 1990 by Navin M. Raheja, Raheja Developers Ltd. has been bringing in new innovations and best construction practices to every project. With its commitment to deliver on time, and as promised, it has been successful in building a huge base of satisfied customers. For designing innovative green buildings, it has successfully collaborated with international construction and technology partners like Arabtec, ECC, Thronton Tomasetti, Peri, Aedas in India. The firm was also amongst the first ones to bring affordable housing in Haryana, under Pradhan Mantri Awas Yojana and Deen Dayal Jan Awas Yojana.
3. With a current wealth of INR 6,315 crores, Pradeep Jain, 56, of Parsvnath Developers Ltd. occupies the third spot in the list. Established in 1990, Parsvnath Developers Ltd. has a pan-India presence in over 37 cities in 13 states, and has been building contemporary residential spaces, state-of-the-art office complexes, affordable housing, luxurious, shopping malls and hypermarkets, posh hotels, futuristic multiplexes, and high tech IT Parks and SEZs.
4. The fourth spot has been occupied by Mohit Goel, 31, Omaxe Ltd., whose real estate business registered a valuation of INR 6,133 crores. Established in 1987, by the visionary first-generation entrepreneur and civil engineer Rohtas Goel for furthering his construction and contracting business, Omaxe Ltd. diversified into the real estate sector in 2001. Since then it has come a long way and has established its presence in 27 cities across 8 states namely UP, MP, HP, Punjab, Haryana, Uttarakhand, Rajasthan and Delhi.
5. Sushil Ansal, 77, of Ansal Properties & Infrastructure Ltd. ranks fifth on the list with a wealth of INR 5,747 crores. Established in 1967 as a family business, Ansal Properties & Infrastructure Ltd. operates in a range of business verticals such as Integrated Townships, Condominiums, Group Housing, Malls, Shopping Complex, Hotels, SEZs, IT Parks and Infrastructure and Utility Services. It has developed 19 existing townships across all major tier 2 cities in Northern India in Delhi-NCR, Uttar Pradesh, Rajasthan, Haryana and Punjab, including many high-rise residential towers in Delhi.
6. With a wealth of INR 3,463 crores, Hadi Badri, 39, of Emaar India Ltd. ranks sixth on the list (This assessment is based upon the valuation of Emaar India Ltd.’s projects only. Its valuation outside India has not been taken into account). Emaar India Ltd. was established in the year 2005 as a luxury real estate developer in the nation. Its exceptional projects have been spanning across the nation. It consistently delivers world-class projects that reinforce its competencies and commitment to quality. Its values are reflected in its continuous endeavours towards delivering unmatched quality, innovation and execution in shaping realty dreams. The firm has been consistently rising high on the popularity rating and establishing its stronghold in the Indian market.

• Bengaluru (erstwhile Bangalore)

Serving as India’s technology capital for over three decades now, Bengaluru boasts a robust heritage of premier R&D laboratories, academic institutions, and public sector focused firms. The city has earned the well-deserved sobriquet of Asia’s Silicon Valley. Its architectural landmarks bear witness to the grandeur of the royal dynasties that have ruled the ‘Garden City.’ Bengaluru has also acquired the distinction of being the top Indian city in the Million+ city category on the Indian government’s Ease of Living (EOL) Index 2020 released by the Union Housing and Urban Affairs Ministry. Urban liveability comprises efficient public transport, neighbourhood walkability, access to open spaces, ample economic opportunities and access to infrastructure services. It is a significant factor in promoting citizens’ health and wellbeing. The top 6 real estate brands and leaders in Bengaluru are given below.

1. The first spot on the list has been occupied by Irfan Razack, 67, of Prestige Estates Projects Ltd. who encompasses a wealth of INR 19,589 crores. The CMD Irfan Razack, along with his brothers Rezwan Razack and Noaman Razack, has been efficiently driving the organization towards new horizons of success for the last 35 years. Over time, the company has diversified into various segments. For instance, interior designing services provided by Morph Design Company (MDC) and men’s clothing line by Prestige Fashions (P) Ltd. Its wide range of residential, commercial, retail, leisure and hospitality segments makes Prestige the only developer in South India to have such a diverse portfolio.

• With a wealth of INR 19,421 crores, Jitendra Virwani, 55, of Embassy Office Parks REIT Ltd. stands second on the list. Embassy has earned the unique distinction of being the nation’s first publicly listed Real Estate Investment Trust. 8 infrastructure-like office parks and 4 city‑centre office buildings are owned and operated by the firm in Bengaluru, Mumbai, Pune, and Delhi-NCR. Its portfolio comprises 32.3 million square feet (msf) completed operating area, including 2 operational business hotels, 4 under‑construction hotels, & a 100MW solar park supplying renewable energy to tenants and is utilized by more than 190 global companies.
• With a current wealth of INR 10,543 crores, P.N.C. Menon, 72, of Sobha Ltd. occupies the third spot in the list. Incorporated as Sobha Developers Pvt. Ltd. in 1995 by P.N.C. Menon, Sobha Ltd. has a presence in 10 cities, has completed over 150 projects, with 9 M+ sq. ft. under development, and over 58 Million sq. ft. delivered to more than 17,000 happy families. Having altered the skyline in Bengaluru, created landmark developments in Kerala, the firm has stepped into Delhi NCR, Chennai, Coimbatore, Mysore, Pune and plans to expand its ambit in near future.
• The fourth spot is taken by M.R. Jaishankar, 65, Brigade Enterprises Ltd., whose real estate business registered a valuation of INR 7,666 crores. Instituted in 1986, Brigade Enterprises Ltd. has developed many landmark buildings and transformed the skyline of cities across South India namely Bengaluru, Mysuru, Mangaluru, Hyderabad, Chennai and Kochi with developments across the Residential, Commercial, Retail, Hospitality and Education sectors. Since its inception, it has completed 250+ buildings amounting to over 70 M sq. ft. of developed space across a diverse real estate portfolio.
• Ravi Puravankara, 69, of Purvankara Ltd. ranks fifth on the list with a wealth of INR 5725 crores. Established in 1975 with a clear vision and mission to meet the aspirations of millions by offering quality homes, Purvankara Ltd. has established two distinct and successful brands. The flagship brand ‘Puravankara’ caters to the premium end of the spectrum, while ‘Provident’ serves the premium affordable segment. It has completed 66 residential and 5 commercial projects close to 41 M sq. ft. Today, it has a Pan India presence in Bengaluru, Hyderabad, Chennai, Kochi, Coimbatore, Mangaluru, Kolkata, Mumbai, Pune and Goa and overseas presence in the GCC and Sri Lanka.
• The sixth spot has been occupied by Bijay Kumar Agarwal, 56, Salarpuria Sattva Realty LLP, whose real estate business registered a valuation of INR 5,200 crores. Founded in 1993 in Bengaluru, the Salarpuria Sattva Group has made its indelible mark across the landscape of Bengaluru, Hyderabad and 5 other Indian cities. A first-generation entrepreneur, Bijay Kumar Agarwal has helped the brand to emerge as a front runner in the realty space. It takes pride in delivering 114 successful projects encompassing 48 M sq. ft. of area. Currently, its 24 ongoing projects comprise 32 M sq. ft. of area under construction.

• Chennai

Nicknamed the ‘Detroit of India’ for its auto industry, Chennai, the capital of Tamil Nadu, exhibits the architectural evolution over several centuries. The present day Chennai is an assortment of styles comprising ancient Tamil temples built by the Pallavas, the Indo-Saracenic form that pioneered in Madras during the colonial era, and the twentieth-century skyscrapers. Chennai has bagged the fourth place on the Union Government’s Ease of Living Index (EoLI) 2020 under million plus city category. It is an indicator of the excellent quality of life and economic opportunities which Chennai offers to its inhabitants, and also its sustainability and resilience. The top 6 real estate brands and leaders in Chennai are as follows:

1. With a wealth of INR 2,175 crores, Manoj Namburu, 51, of Alliance Group & Urbanrise occupies the top slot on the list in Chennai. Headquartered in Bengaluru, with operations in Chennai, Hyderabad, Alliance Group. is an integral part of India’s high growth real estate story. With 42 M sq. ft. developed area and INR 24,000 crores of real estate portfolio, the firm is consistently moving towards the zenith of success. The net worth of promoters of Alliance Group & Urbanrise is bound to increase manifold in the near future. They are the developers to watch with the likelihood of highest increase in net worth in the coming years.
2. With a current wealth of INR 2,150 crores, Suneel Bommireddy, 48, of Alliance Group & Urbanrise takes the second spot in the list of top developers in Chennai. A constant innovator to the core whilst beholding the title of a master deal maker, Suneel Bommireddy fuels the business development of the organization by acquiring the best of breed land parcels for project development in Bengaluru, Chennai and Hyderabad.
3. The third spot is occupied by Arun MN, 46, Casagrand Builder Pvt. Ltd., whose real estate business registered a valuation of INR 1,490 crores. Established in 2004, Casagrand Builder Pvt. Ltd. has developed over 22 M sq. ft. of prime residential real estate across Chennai, Bengaluru, and Coimbatore. It takes pride in delivering more than 112 landmark properties and serving over 18,250 happy families.
4. The fourth spot has been occupied by Yuvaraajann Radhakrishnan, 36, of Baashyaam Constructions Pvt. Ltd., whose real estate business registered a valuation of INR 1,450 crores. Baashyaam Group has a strong three-decade-plus presence in the infrastructure and real estate sector of Tamil Nadu. It has successfully managed multiple projects across categories ranging from Affordable Housing, Independent Villas, Premium Living Spaces, Luxury Residences and Commercial Buildings. It is among one of the very few top developers with end-to-end capabilities, right from project inception to finish.
5. Varun Manian, 39, of Radiance Realty Developers India Ltd. ranks fifth on the list with a wealth of INR 1,185 crores. A third-generation entrepreneur from the eminent Manian family, Varun Manian is the man behind the success of Radiance Realty. In 1949, the Manian family established NAPC, a leading infrastructure company in Chennai, India and the Middle East. In 2012, NAPC Properties evolved and Varun Manian entered the residential real estate business with the inception of Radiance Realty Developers India Ltd. The latter has emerged as a successful property development firm which focuses on building both affordable and luxury residential projects.
6. With a wealth of INR 980 crores, C. Subba Reddy, 68, of CEEBROS Property Development Pvt. Ltd. stands sixth on the list. Established in 1978, CEEBROS Property Development Pvt. Ltd. is a leading developer of premier real estate. It has delivered over 300 successful residential and commercial projects over a span of around three and half decades. It ventured into the hospitality industry with The Raintree Hotels in 2005. It also intends to diversify into Professional Property Management Services in near future.

• Hyderabad

Spanning over 650 square kilometres, Hyderabad is the fourth largest city in India. A historical pearl trading centre and a multi-cultural hub, it has earned monikers such as ‘The City of Pearls’ and ‘The City of Nizams.’ But what seems to define the unique character of this city is its architecture fusion of ancient and modern architectural styles. It is renowned for the historic monument of Charminar, located strategically at its centre. The top 6 real estate brands and leaders in Hyderabad are described below.

1. The first spot on the list has been occupied by Rameswar Rao Jupally, 65, of My Home Group who encompasses a wealth of 7,300 crores. With a rich legacy of over 35 years, My Home Group takes pride in completing over 21 Residential and Commercial projects, comprising 26 M sq. ft. of total built-up area and over 11 M sq. ft. under construction. It makes owning a home a good experience by stringing its 6 principles: Happy Communities, Superior Living, Clear Documentation, Timely Delivery, Desirable Destinations and Secure Environment and is a preferred choice of intelligent homebuyers.
2. With a wealth of INR 5,200 crores, S. S. Reddy, 68, of Aparna Constructions and Estates Pvt. Ltd. stands second on the list. With pioneering innovation in gated communities, the firm has been growing since 1996. Holding an unwavering vision to offer a sustainable balance between affordability and luxury, it builds homes of global standards of construction with a great sense of environmental responsibility. Its projects have been popular for offering perfect locations and world-class amenities in a clean and green environment.
3. The third spot is occupied by C.V. Reddy, 68, of Aparna Constructions and Estates Pvt. Ltd., whose real estate business registered a valuation of INR 4,350 crores. Established in 1996, Aparna Constructions and Estates Pvt. Ltd. (ACEPL) is an OHSAS 18001:2007, ISO 9001:2015 and ISO 14001:2015 certified company. In more than 2 decades years of its successful operations, it has established itself as the epitome of construction excellence in Hyderabad. It takes pride in its customer base of over 16,000+ happy families. Recently, ACEPL also expanded to Bengaluru and the new state capital – Amaravati.
4. Alla Ayodhya Rami Reddy, 57, of Ramky Infrastructure Ltd. ranks fourth on the list with a wealth of INR 2,675 crores. An integrated construction, infrastructure development and management company in India, Ramky Infrastructure Ltd. (Ramky Infra) was established in 1994. It has been delivering a range of construction and infrastructure projects in various sectors such as water, wastewater, transportation, irrigation, industrial construction, parks (including SEZs), power transmission, power distribution, residential, commercial and retail property. Besides a Pan India presence in 23 states and 2 union territories, it has an overseas presence in the UAE.
5. After leaving his indelible impression on Chennai and Bengaluru, Manoj Namburu 51, with a current wealth of Rs 2,175 Crores is making his presence felt in Hyderabad too. He occupies the fifth spot in the list of top 6 real estate developers in Hyderabad.  Unlike any developer who enters into a new market with one project, Urbanrise has taken giant strides by starting operations in Hyderabad in 2018 with 6 large projects totaling to 14 M sq. ft. at one go – a first of its kind in the Indian real estate sector. With total development portfolio of 42 M sq. ft. and INR 24,000 crores, they are large format developers and are very likely to become the largest by volumes in South India in the near future. The net worth of promoters of Alliance Group & Urbanrise is bound to multiply in the next few years. 
6. The sixth spot is taken by Suneel Bommireddy, 48, Alliance Group & Urbanrise, with a wealth of INR 2,150 crores. With an eye for detail and strong business acumen Suneel Bommireddy along with Manoj Namburu have realized the potential of Hyderabad as the fastest growing market and have invested heavily in procuring 6 large land parcels in Hyderabad city and are aggressively scouting for more land parcels.

CONCLUSION

India’s Most Influential Real Estate Brands & Leaders 2020-21 List by AsiaOne is a comprehensive indicator of the top-performing real estate brands and leaders in the sector assessed at Pan India and regional level and resonates the overall positive sentiment in this thriving industry. It brings to fore not only some of the best performers in the real estate sector but also aims to highlight those emerging brands and leaders who are performing exceptionally well and are the contenders for the top slots in near future. For instance, the young and dynamic duo Manoj Namburu and Suneel Bommireddy of Alliance Group & Urbanrise have outshone their contemporaries at the regional level by registering a remarkable presence in Chennai and Hyderabad. With more and more projects coming their way, they are bound to rise and shine not only at the South India level but also rise up the success ladder at the Pan-India level in the near future. Similarly, one such remarkable firm is Emaar India Ltd. which is a part of internationally renowned, UAE headquartered Emaar Properties – one of the world’s most renowned real estate development firms, popular for creating iconic architectural landmarks such as Burj Khalifa, Dubai Downtown and Dubai Mall, to name a few. Having started its operations in India in 2005, Emaar India Ltd. has been swiftly rising up the popularity charts with its customer-centric approach. It has created a portfolio of world-class living spaces and work environments in the major cities of the nation. The popular brand is likely to register its presence on the top rung on the success ladder in the near future.

Out of the top 50 brands and leaders at the Pan India level, Rajiv Singh of DLF Ltd. has acquired the top slot on India’s Most Influential Real Estate Brands & Leaders List 2020-21 followed by Mangal Prabhat Lodha of Macrotech Developers Ltd. and Chandru Raheja of K Raheja Corp Pvt. Ltd. The number one realty brand of India, DLF has been consistently developing ecosystems for the country’s changing needs; as exemplified by its diverse verticals. The brand is also committed to driving sustainability across every vertical – from pioneering wastewater treatment systems to responsible recycling of its construction materials. It is turning no stone unturned in continuously innovating to create safer workplaces, smarter cities, and sustainable communities across India.

Mangal Prabhat Lodha, of Macrotech Developers Ltd., Chandru Raheja of K Raheja Corp Pvt. Ltd. and Niranjan Hiranandani, of Hiranandani Developers Pvt. Ltd. are the top three firms and leaders in the real estate sector in Mumbai. Despite the challenges posed by the ongoing COVID-19 pandemic, Dr. Hiranandani has been credited with the launch of the world’s second-largest data center namely Yotta NM1 in Navi Mumbai.

DLF Ltd.’s Rajiv Singh, Navin M Raheja of Raheja Developers Ltd. and Pradeep Jain of Parsvnath Developers Ltd. are the top three achievers, in that order in Delhi-NCR. In a span of 3 decades, Rajeha Developers Ltd. has pioneered various firsts in India. It has come a really long way from trend-setting luxury housing to providing homes for the poorest section of the Indian society. Besides being credited with building India’s tallest skyscrapers, it has also earned the distinction of developing 165 acres of plotted township. In a nutshell, it has been efficiently changing the way people shop to changing the way they work.

The real estate sector in Bengaluru is reigned over by Irfan Razack of Prestige Estates Projects Ltd., Jitendra Virwani of Embassy Office Parks REIT Ltd. and P.N.C. Menon of Sobha Ltd. The youngest of these three, Jitendra Virwani is a leader par excellence. Under his able leadership, Embassy Office Parks Pvt. Ltd. takes pride in its roster of multinational tenants such as Google, IBM and Warburg Pincus. The firm merged its residential and commercial projects with the listed Indiabulls Real Estate in August 2020.

The real estate sector in Chennai is ruled by young and ambitious leaders namely Manoj Namburu and Suneel Bommireddy of Alliance Group & Urbanrise, and Arun MN of Casagrand Builder Pvt. Ltd., respectively. The successful duo Manoj Namburu and Suneel Bommireddy is also a part of the top 6 real estate achievers of Hyderabad. The leaders possess immense potential and are bound to climb up the success ladder and make a mark at the Pan India level too in the near future.

Rameswar Rao Jupally of My Home Group, and S.S. Reddy and C.V. Reddy of Aparna Constructions and Estates Pvt. Ltd. are the major players in the realty sector of Hyderabad. Innovating excellence since the last 3 decades, My Home Group has perfected the rare art of blending great homes with great lifestyle. Its 21 iconic addresses are a testimony to its expertise in building gated communities and creating happy communities since 1981.

With an estimated total size of around INR 12,24,000 crores, the Indian Real Estate sector plays a significant role in driving the nation’s economic growth. No wonder it is the country’s second-largest employer. Despite the pandemic, the top real estate brands have performed exceptionally well and have successfully turned adversity into opportunity. Some emerging brands have been thriving, expanding their horizons and are likely to occupy the top slots in the times to come. The very fact that wealth creation in the sector continued to be robust, in spite of the challenges posed by the COVID-19 pandemic, deserves a huge round of applause and is inspirational for other sectors to follow suit.

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Turkey, a transcontinental country, and Greece, a Southeastern European nation has agreed to resume dialogue between them that aimed at resolving long intensified disputes following a week-long standoff over the fair sharing of natural resources in the Eastern Mediterranean region. In a statement released from the Greek Foreign Ministry said that officials from both countries would “shortly” gather in Istanbul for a 61st meeting. The two NATO allies locked horns over energy prospecting rights in an area between Turkey’s southern coast, several Greek islands, and the wardivided island of Cyprus. As a member of the European Union, Greece claims the waters are part of its continental shelf and have enlisted the support of the 27 nation bloc. Turkey’s Foreign Minister Mevlut Cavusoglu accused Greece of engaging in “provocative acts” in the region with the backing of the European Union. Through the mediation efforts by Germany and others, Turkey pulled back its ships, and both the countries decided to ease naval presence and halted their military exercises. The steps taken by Greece would determine the course of the talks, as told by Turkish President Recep Tayyip Erdogan in a video conference with German Chancellor Angela Markel & European Council President Charles Michel. Greece & Cyprus had been pushing for EU sanctions against Turkey due to its search for energy inside the economic zone of Cyprus.

The governments of India, Japan, and Sri Lanka, through a tripartite agreement, have decided to develop a container terminal at Port of Colombo.

A Memorandum of Cooperation (MoC) was signed in Colombo by Sri Lankan Port Minister Salaga Ratnayake, Indian High Commissioner to Sri Lanka Taranjit Singh Sandhu, and Japanese delegate to develop East Container Terminal (ECT).

According to media reports, the new container terminal is located at the recently developed south part of Post of Colombo and will enable the related countries to develop a facility for large container ships.

After getting approval from the Sri Lankan cabinet, the three countries will set up a company to operate the terminal.

The cost of developing the container terminal is estimated around $500-700 million and is owned by Sri Lanka Port Authority holding 51% majority stake and rest 49% jointly by India and Japan. Japan is going to provide a soft loan at an interest rate of 0.1% for the duration of 40 years with a grace period of 10 years.

Participation of India and Japan in the development of Sri Lanka’s container terminal is being seen as strategic development as more than 70% of India’s transshipment is handled at Colombo ports. Moreover, it’s going to neutralize the growing Chinese influence over the island nation in which the country has poured money under its Belt and Road Initiative (BRI) plan.

This new East Container Terminal will be developed next to $500 million Colombo International Container Terminal whose majority 85% stake is owned by China and rest 15% by Sri Lanka’s SLPA.

Hong Kong’s stock market has overtaken Japan to become the World’s 3rd largest stock market. The city’s equity market has become the 3rd most valuable, and just closely behind the US and mainland China.

The market value of the companies listed on Hong Kong bourses stood at $5.78 trillion, overtaking Japan’s stock market value that pegged at $5.76 trillion. Hong Kong’s stock market benchmark Hang Seng Index rose 17% since the beginning of the year, adding $937 billion of market value for stock trading with a major contribution from Tencent Holdings Ltd. that gained 22%. The bourse closed at its highest since June 2015. During the same period, Japan’s Topix Index climbed 8.3%. A stronger 2019 is predicted for Hong Kong and China expecting positive trade relations between China & US.

India is now the 6th wealthiest country in the world with fortunes raised massively from the year 2016 to an astounding $8,230 Billion in 2017.
It has been rated as the best performing market globally.
New World Wealth is a global wealth intelligence and market company that specializes in ratings, surveys, country reports and wealth statistics. It uses the total wealth of a country as an indicator
to assess the economic patterns and determine the wealthiest of nations, and refers to the fortunes owned by all individuals living in each state, city or constituency. It includes cash, property
stocks, and business interests and excludes government funds.
According to their recent report, during the review period 2006-2016, India’s volume of High Net Worth Individuals (HNWIs) increased by a whopping 290% and is the 9th largest in the world. The acquisition of this wealth is mainly attributed to the following Industries – Manufacturing (18%) followed by Basic Materials (15%), Technology (10%) and Financial and Professional services (10%).
Statistics as of 2017 show that 330,400 HNWIs reside in India, which is one of the highest in the world. There are also at least 119 billionaires living in the country, and the number is again much higher in contrast to Germany, Canada, France, Australia China and Russia.
The report stated that with India’s massive entrepreneurial population, a good educational system and an English speaking population, private wealth will grow by 200% over the next ten years with growth in financial services, Information Technology, Business Process Outsourcing, Real Estate, Healthcare and Media Industries.

Reported in June 2018, a sell-off of Chinese stocks due to the trade war between the two biggest economies of the world has resulted in lowering Asian equities to a 4-month low. United States President Donald Trump has further threatened new tariffs on Chinese goods. A 10 per cent imposition on $200 Billion worth goods is expected as a comeback to China’s decision of raising tariffs on $50 Billion U.S goods.

China has warned Washington that it will take substantial measures if any more additional list of tariffs on its products were published. Asian Economies like Taiwan, South Korea and Southeast Asia are among the largest exporters of “intermediate goods” to China, which is the assembler of those pieces into finished products and ships
them to destinations such as U.S. Hence, these economies become the most susceptible to the trade-off and likely to get badly affected if the tensions between the two countries heat up any further.

Furthermore, trade frictions are evident by the blows on the financial market, and have created an increasingly nerveracking situation for investors and businesses that fear a fullfledged trade-off could derail global growth.

Morgan Stanley Capital International’s broadest index of Asia-Pacific shares outside Japan lost 1.2 per cent to its lowest, dragged by a fall in Chinese shares.

India has been designated as the world’s fastest growing economy with the World Bank’s projection of its growth rate at 7.3% for the year 2018.
The World Bank is an international financial institution that provides loans to countries of the world for capital projects. The Global Economic Prospects is a World Bank Group flagship report that examines global economic trends, developments and prospects, with a special emphasis on upcoming markets and developing economies.
After five consecutive slow quarters, India’s GDP growth bottomed out in the middle of 2017 and finally rose vigorously in 2018. This acceleration of pace for India in the current fiscal year is supported by strong private consumption and increase in public spending on wages and infrastructure investments. Moreover, private investment is expected to revive as the private sector adjusts to the Goods and Services Tax and a global trade recovery lifts exports. India is said to be growing at a rate faster than its assessed potential.
Ayan Kose, Director, Development Prospects Group at the World Bank stated, “India’s economy is robust, resilient and has potential to deliver sustained growth.”
He also added, “In terms of economic growth, the fact that India is able to deliver a robust consumption growth, robust investment… All these are good news. The big issue is now that India has a potential to sustain this growth and we are optimistic about India to realize that potential.”