Reliance Ind, Tata Consultancy, HDFC Bank among most valuable companies: Burgundy Private Hurun India

Our Bureau | | Updated on: Dec 09, 2021
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About 11 per cent of the 2021 Burgundy Private Hurun India 500 are less than 10 years old

Reliance Industries is the country’s most valuable company according to the Burgundy Private Hurun India 500 companies list.

“With a value of ₹16.7-lakh crore, Reliance Industries is India’s most valuable company, followed by Tata Consultancy Services with ₹13.1-lakh crore and HDFC Bank with ₹9.1-lakh crore,” the list said.

Infosys, ICICI Bank, Housing Development Finance Corporation, Bajaj Finance, Kotak Mahindra Bank, Bharti Airtel and Wipro are the rest of the firms that make the top 10.

Company ‘value’

The findings are part of the first edition of the Burgundy Private Hurun India 500 by Burgundy Private, Axis Bank’s private banking business, and Hurun India.

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“These companies are ranked according to their value, defined as market capitalisation for listed companies and valuations for non-listed companies. The cut-off date to arrive at this list was October 30,” said a statement on Thursday, adding that the companies have to be headquartered in India.

It also found that despite the Covid-19 pandemic, the cumulative value of the 2021 Burgundy Private Hurun India 500 companies grew 68 per cent year-on-year to an average of ₹45,300 crore.

As many as 461 companies saw their value increase, of which 200 of them doubled in value. Of these, 20 companies rose by ₹1-lakh crore, led by Reliance Industries, Tata Consultancy Services, Infosys and ICICI Bank.

Financial services and healthcare led the way with 77 and 64 companies respectively on the list, followed by chemicals with 42 entrants.

Start-up culture

“India’s start-ups are producing some significant companies,” it noted.

About 11 per cent of the 2021 Burgundy Private Hurun India 500 are less than 10 years old, led by Mensa Brands, Apna, CRED, BharatPe, Mobile Premier League and Zetwerk. Of these start-ups, 53 are Unicorns and 1 is a Gazelle.

“The top line of these 500 companies is equivalent to 29 per cent of India’s GDP and they employ up to 1.5 per cent of the total workforce of the country. What is most heartening is that nearly 10 per cent of these companies are younger than 10 years, representing India’s vibrant tech ecosystem. We believe that India’s new economy companies will witness greater representation in this list in the times to come,” said Amitabh Chaudhry, Managing Director and CEO, Axis Bank.

‘Backbone of the economy’

“With a total value of $3 trillion, more than India’s current GDP, they make up the backbone of India’s economy. Together, these 500 companies had combined sales of $770 billion, and employed 6.9 million staff, which is more than the working population of United Arab Emirates,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.

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Women continue to see lower representation and make up just 16 per cent of the board of directors from the 2021 Burgundy Private Hurun India 500.

The country’s financial capital — Mumbai — had the largest number of firms on the list at 167, followed by Bengaluru with 52 and Chennai with 38.

Published on December 09, 2021

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