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2022 Burgundy Private Hurun India 500: Reliance Most Valued Indian Firm; TCS Emerges Winner in India’s Top 10 Private Employers’ List  

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Reliance most valued Indian firmThe “2022 Burgundy Private Hurun India 500,” the second edition of the list that ranks the 500 most valuable firms in India, was published by Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India.

  • The cut-off date for this list was October 30, 2022.

According to the list, Reliance Industries Limited (RIL) is the most valuable listed company in India, with a valuation of Rs 17.2 lakh crore, up 3.6% from 2021.

  • Tata Consultancy Services (TCS) is ranked 2nd on this list with a valuation of Rs. 11.7 lakh crore, and HDFC Bank is ranked 3rd with a valuation of Rs. 8.3 lakh crore.

Burgundy Private Hurun India 500: Significance

  • The companies on the list are ranked based on their value, which is determined by market capitalization for listed companies and valuations for non-listed companies.
  • This list exclusively includes companies headquartered in India, while state-owned enterprises and subsidiaries of both foreign and Indian companies are excluded.

2022 Burgundy Private Hurun India 500: Key Highlights

i.The companies on this list are based in 36 Indian cities, with Mumbai (159) [Maharashtra], Bengaluru (63) [Karnataka], and Delhi (42) at the forefront.

ii.The Adani Group companies in saw the largest year-over-year (YOY) gains in absolute terms, which are:

  • Adani Total Gas (up Rs. 2.3 lakh crore), Adani Enterprises (up Rs. 2.1 lakh crore), Adani Transmission (up Rs. 1.7 lakh crore), and Adani Green Energy (up Rs. 1.4 lakh crore).

iii.These 500 companies account for up to 1.5% of the workforce in India and generate top-line revenue equal to 29% of India’s Gross Domestic Product (GDP).

  • These companies have a combined market value of USD 2.7 trillion, or equal to India’s present GDP.

iv.These 500 companies had combined sales of USD 820 billion and employed 72.6 lakh people (~7.3 million employees), which is greater than the working population of the United Arab Emirates (UAE).

Top 10 of 2022 Burgundy Private Hurun India 500

RankCompanyValue (Crore)Change (%)HeadquartersCEO/MD
1Reliance Industries Limited (RIL)Rs. 17, 25, 058 Crore3.6%Mumbai, MaharashtraMukesh Ambani
2Tata Consultancy Services (TCS)Rs. 11,68,390 Crore-10.8%Mumbai, MaharashtraRajesh Gopinathan
3HDFC BankRs. 8,33,656 Crore-7.9%Mumbai, MaharashtraSashidhar Jagdishan
4InfosysRs.6,46,985 Crore-13.9%Bengaluru, KarnatakaSalil Parekh
5ICICI BankRs. 6,33,171 Crore17.7%Mumbai, MaharashtraSandeep Bakhshi
6Bharti AirtelRs. 4,89,575 Crore26.9%Gurugram, HaryanaGopal Vittal
7Housing Development Finance CorporationRs. 4,48,844 Crore-10.4%Mumbai, MaharashtraKeki M Mistry
8ITCRs. 4,32,359 Crore48.1%Kolkata, West BengalSanjiv Puri
9Adani Total GasRs. 3,96,245 Crore144.2%Ahmedabad, GujaratSuresh P Manglani
10Adani EnterprisesRs. 3, 81, 610 Crore121.5%Ahmedabad, GujaratRajesh S Adani

2022 Burgundy Private Hurun India 500: Key Performers

1Most Valuable CompanyReliance Indistries Limited (RIL)Value: Rs. 17,25,058 crore
2Most Valuable Unlisted CompanySerum Institute of IndiaValue: Rs. 2,19,700 crore
3The Fastest Value CreatorVedant Fashions LimitedValue Growth: 450%
4Most Valuable StartupBYJU’SValue: Rs. 1,82,200 crore
5Contributes the Most to the listTATA GroupNumber of companies: 15
6The Largest EmployerTata Consultancy Services (TCS)Number of Employees: 5,92,195
7Highest TaxpayerReliance Indistries Limited (RIL)Corporate Tax: Rs. 16,297 crore
8Most Profitable CompanyReliance Indistries Limited (RIL)Net Profit: Rs. 67,845 crore

TCS Emerges Winner in India’s Top 10 Private Employers’ List

According to the “2022 Burgundy Private Hurun India 500” report, Tata Consultancy Services (TCS), which employs 5,92,195 people, is the largest private employer in India. 

  • The second position on the list was secured by the business services provider Quess Corp Limited (Quess).

List of India’s 10 Largest Private Employers – 2022 Burgundy Private Hurun India 500

S.NoCompanyNo. of Jobs
1Tata Consultancy Services (TCS)5,92,195
2Quess Corp Limited (Quess)4,36,907
3Reliance Industries Limited (RIL)3,40,000
4Infosys Limited (Infosys)3,14,015
5Larsen & Toubro Ltd (L&T)2,52,217
6Wipro Limited (WIPRO)2,47,073
7HCL Technologies  (HCLTech)2,24,834
8SIS Limited (SIS)1,44,017
9HDFC Bank Ltd1,41,579
10Motherson Sumi Systems Limited1,28,564

Serum Institute, Byju’s Top Burgundy-Hurun Unlisted Companies List 2022

According to the “2022 Burgundy Private Hurun India 500” report, the pharmaceutical company Serum Institute of India (SII) is the most valued unlisted company in India, followed by edtech (education technology) giant BYJU’s.

  • Between 2021 and 2022, the value of the vaccine producer SII, situated in Pune (Maharashtra), rose by 20% to Rs 2.2 trillion.

Byju’s market value has increased by 35% to Rs 1.82 trillion, making it the second-most valuable firm on the list, surpassing India’s major stock exchange, the National Stock Exchange (NSE).

List of India’s Most Valuable Company in Unlisted Space -2022 Burgundy Private Hurun India 500

S.NoIndia’s Most Valuable Company In Unlisted Space
1Serum Institute of India (SII)
3National Stock Exchange of India (NSE)
7Parle Products
10Intas Pharmaceuticals

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About Hurun Report Inc. (Hurun Report):

Hurun Report is a leading research, luxury publishing and events group established in London in 1998.

  • It has its presence in India, China, France, UK, USA, Australia, Japan, Canada and Luxembourg.

MD & Chief Researcher of Hurun India – Anas Rahman Junaid