According to the 2024 Burgundy Private Hurun India 500 list, released by Axis Bank Limited‘s Burgundy Private and Hurun India, Reliance Industries Limited (RIL) based in Mumbai, Maharashtra has retained its position as India’s most valuable company for the fourth consecutive year with a valuation of Rs17,52,650 crore.
- Following RIL, Mumbai based Tata Consultancy Services Limited(TCS) ranks second with a valuation of Rs 16,10,800 crore , while Housing Development Finance Corporation (HDFC) Bank Limited, Mumbai, is in third place at Rs 14,22,570 crore .
- The total worth of the 500 companies featured in the 2024 edition of the list stands at Rs 324 lakh crore (approximately USD 3.8 trillion).
About 2024 Burgundy Private Hurun India 500:
The 2024 Burgundy Private Hurun India 500 ranks companies based on their market capitalization (mcap) for listed companies and valuation estimates for unlisted ones.
- The 2024 Burgundy Private Hurun India is the fourth edition of the list featuring the 500 most valuable private companies in India.
i.The average age of the companies on the list is 43 years.This list only includes companies headquartered in India and does not feature state-owned enterprises or subsidiaries of foreign or Indian companies.
- The Financial Services and Healthcare sectors dominate the list, with 63 and 59 companies, respectively, followed by Industrial Products with 52 companies.
ii.The threshold for qualifying in the 2024 Burgundy Private Hurun India 500 is Rs 9,580 crore as of 13 December 2024, reflecting a 43% increase from the Rs 6,700 crore threshold in 2023.
iii.A total of 82 new companies(collectively have a combined value of Rs 18.8 lakh crore) have joined the list .
- Among the newly listed companies, notable names include Waaree Energies ,Premier Energies, while Adani Realty, Aparna Constructions & Estates, and Shahi Exports are among the major unlisted entrants.
iv.The list includes companies from 43 cities, with Mumbai (154), Bengaluru (44), and New Delhi (37) contributing a total of 235 entries. Haryana has moved up two spots from last year, surpassing Delhi to enter the top three states for the first time.
Top 10 of 2024 Burgundy Private Hurun India 500:
| Rank | Name of Company | Value (in crore) |  Change    (%) | MD & CEO |
|---|---|---|---|---|
| 1 | RIL (based in Mumbai, Maharashtra) | Rs.17,52,650 | 12% | Mukesh.D.Ambani |
| 2 | TCS (Mumbai) | Rs.16,10,800 | 30% | Kunchitham Krithivasan |
| 3 | HDFC Bank (Mumbai) | Rs.14,22,570 | 26% | Sashidhar Jagdishan |
| 4 | Bharti Airtel (New Delhi,Delhi) | Rs.9,74,470 | 75% | Gopal Vittal |
| 5 | ICICI Bank (Mumbai) | Rs.9,30,720 | 44% | Sandeep Suraj Bakhshi |
| 6 | Infosys (Bengaluru, Karnataka) | Rs.7,99,400 | 40% | Salil Parekh |
| 7 | ITC (Kolkata, West Bengal WB) | Rs.5,80,670 | 8% | Sanjiv Puri |
| 8 | Larsen & Toubro (Mumbai) | Rs.5,42,770 | 35% | S. N. Subrahmanyam |
| 9 | HCL Technologies (Noida, Uttar Pradesh UP) | Rs.5,18,170 | 51% | C. Vijayakumar |
| 10 | National Stock Exchange, NSE(Mumbai) | Rs.4,70,250 | 201% | Ashishkumar Chauhan |
Highlights of 2024 Burgundy Private Hurun India 500:
i.The total worth of the top 10 companies has grown by Rs 22.7 lakh crore, reaching Rs 96 lakh crore (about USD 1.1 trillion). This accounts for nearly one-third of India’s Gross Domestic Product (GDP) and 30% of the total value of the 2024 Burgundy Private Hurun India 500 list.
ii.Among them, the National Stock Exchange (NSE) of India has seen the highest percentage growth in value, NSE entered the top 10 for the first time since the list’s inception
iii.Bharti Airtel Limited has made the biggest contribution in absolute terms, adding over Rs 4 lakh crore this year. Bharti Airtel made it to the top five for the first time,moved up two places in the rankings.
iv.Motilal Oswal Financial Services recorded the highest year-on-year growth in the 2024 Burgundy Private Hurun India 500 list, with its value surging by 297%. Inox Wind and Zepto also saw significant expansion, nearly tripling their valuations within a year
Key Performers of 2024 Burgundy Private Hurun India 500:
| Category | Name of Company | Performance |
|---|---|---|
| Most Valuable Company | RIL | Value Rs 17,52,650 crore |
| Most Valuable Unlisted Company | NSE | Value Rs 4,70,250 crore |
| Largest Employer | TCS | No.of jobs:6,31,858 |
| Highest Revenue | RIL | Revenue: Rs 9,30,529 crore |
| Highest Corporate Tax Paying Company | HDFC Bank | Corporate Tax: Rs 11,122 crore |
| Highest Net Profit | RIL | Net Profit: Rs 79,020 crore |
| Highest Direct Taxpayer | RIL | Tax: Rs 25,707 crore |
| Most Valuable State-Controlled Company | State Bank of India (SBI) | Value: Rs.7,69,000 crore |
Points to Note:
i.For the first time, all companies in the 2024 Burgundy Private Hurun India 500 are valued at at least USD 1 billion, despite a depreciated rupee.
ii.The companies in the 2024 Burgundy Private Hurun India 500 now employ 84 lakh people, an increase of 14 lakh from last year, with an average of 21,000 employees per organization.
iii.Unlisted companies make up 22% of this year’s list, reflecting a 4% decrease from the previous year.
iv.Startups in the 2024 Burgundy Private Hurun India 500 collectively saw a net increase of Rs 1,09,259 crore, with Zepto, OYO, and Zerodha leading the way.
About Hurun India:
Founder and Chief Researcher – Anas Rahman Junaid
Headquarters – Mumbai, Maharashtra
Established – 2012
