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MP Lodha replaces DLF’s KP Singh as richest real estate tycoon

Mangal Prabhat Lodha of the Lodha Group has replaced DLF’s Kushal Pal Singh as the richest real estate tycoon in India, according to the GROHE Hurun India Real Estate Rich List 2018. Lodha’s total wealth grew almost 50 per cent to ₹ 27,150 crore from ₹ 18,610 crore in the 2017 list. He is followed by Jitendra Virwani of Embassy Property Developments, whose wealth has increased from ₹ 16,700 crore last year to ₹ 23,160 crore now. Five of the top ten richest real estate businessmen are from Mumbai while the rest are from Delhi and Bengaluru. Total wealth of top 100 Indians in real estate sector stood at ₹ 2,36,610 crore, up 27 per cent against 2017. The combined wealth of top 100 names listed by us in 2018 stands at USD 32.3 billion –a billion dollar more than the GDP of Cyprus, Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India, said.

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