Reliance Industries topped the 2024 `Burgandy Private Hurun India' list of the 10 most valuable private companies in India, followed by Tata Consultancy Services (TCS) and HDFC Bank in second and third place, respectively. The combined market valuation of these top 10 companies was greater than Saudi Arabia’s gross domestic product (GDP).
According to Hurun India, the top 500 companies have a cumulative value of $3.8 trillion ( ₹324 lakh crore, up 40 percent), which is higher than India's GDP and the combined GDPs of UAE, Indonesia, and Spain. The companies outperformed the domestic benchmarks, the Sensex and the Nifty, which grew by 27 percent and 30 percent, respectively, during the same period.
--Mukesh Ambani-led Reliance Industries leads India's top 10 most valued companies list with a ₹17.5 lakh crore valuation, while TCS, India's largest IT major, came second with a 30 percent growth and ₹16.1 lakh crore valuation. HDFC Bank ranks third with a valuation of ₹14.2 lakh crore.
--Gautam Adani's flagship Adani Ports and Special Economic Zone (SEZ) was valued at ₹2,73,530 crore as of December 13, the cut-off date for the list. The Adani Group, which includes nine listed companies, was valued at ₹13.40 lakh crore, while the Ambani-led Reliance Group's overall valuation was pegged at ₹19.71 lakh crore.
--Reliance Industries is valued at least ₹1.9 lakh crore more than TCS. The salt-to-software Tata Sons led among the industrial groups in terms of valuation, with a 37 percent jump to ₹32.27 lakh crore. The Tata Group, with 15 companies, constitutes 10 percent of the total value of the 500 top companies.
--Brokerage Motilal Oswal Financial Services leads the 2024 Burgundy Private Hurun India 500 as the fastest-growing company with a remarkable year-on-year (YoY) value growth of 297 percent, followed closely by Inox Wind and Zepto, both nearly tripling their valuations over the year.
--For the first time, Bharti Airtel storms into the top five with a ₹9.74 lakh crore valuation, a 75 percent increase, climbing two spots. For the first time since the inception of the Hurun India 500 list, the National Stock Exchange (NSE), valued at ₹4.7 lakh crore, has secured a place in the Top 10.
--India's largest stock exchange, NSE, surged by 201 percent in value to ₹4.7 lakh crore in 2024 and emerged as India’s most valued unlisted company. Startups in the Hurun India List 2024 collectively registered a net increase of ₹1,09,259 crore in 2024, led by Zepto, OYO, and Zerodha.
--In 2024, the top-valued companies collectively spent ₹11,000 crore on corporate social responsibility (CSR). Each of the top 500 companies on the 2024 Burgandy Private Hurun India 500 list is valued at over $1 billion. With a combined revenue of $1 trillion, these companies posted a net profit of ₹8 lakh-crore, paid ₹2.2 lakh-crore in taxes, and employed 85 lakh people.
--Indian startup IPOs gained strong momentum, reflecting renewed investor confidence in the ecosystem. Indian startups reversed their ₹4 lakh crore valuation decline from 2023 and added ₹4.4 lakh crore in value. Zomato added ₹1.7 lakh-crore in 2024, contributing to a total ₹3.9 lakh crore valuation gain across all publicly listed startups.
--Financial services lead Hurun List 2024 with 63 companies valued at ₹62 lakh-crore, contributing 19 percent of the total. The total value of the top ten most valuable Indian enterprises has increased 3.5 times over the past decade, up from only 1.5 times in last year's list. Notably, the top seven companies have remained in the top 10 for the past five and ten years.
“The qualification threshold for the 2024 Burgundy Private Hurun India 500 has increased from ₹6,700 crore to ₹9,580 crore, reflecting the financial growth of Indian enterprises. Every company on the list has achieved billion-dollar status for the first time. The cumulative revenue of these companies is $1 trillion, which is more than a quarter of India’s GDP," said Anas Rahman Junaid, founder and chief researcher at Hurun India.
1.Reliance Industries: ₹17,52,650 crore
2.TCS: ₹16,10,800 crore
3.HDFC Bank: ₹14,22,570 crore
4.Bharti Airtel: ₹9,74,470 crore
5.ICICI Bank: ₹9,30,72 crore
6.Infosys: ₹7,99,40 crore
7.ITC: ₹5,80,670 crore
8.Larsen & Toubro: ₹5,42,770 crore
9.HCL Technologies: ₹5,18,170 crore
10.NSE: ₹4,70,250 crore
(By arrangement with livemint.com)