The Indian corporate sector has undergone a dynamic transformation in recent years, with established industry leaders maintaining their dominance while innovative newcomers leave their mark. The latest Burgundy Private Hurun India 500 list presents an interesting data-driven perspective on the growth in the value of Indian enterprises in 2023. The cumulative value of the top 10 companies in India amounted to INR 73.3 lakh crore (US$882 billion) in 2023, remaining unchanged compared to the previous year.
However, over the last decade, the total value of India’s top 10 most valuable enterprises has witnessed a remarkable surge, soaring by an impressive 165%. What’s more interesting is that eight of these companies have consistently maintained their positions in the top 10 rankings for both the last 5 and 10 years.
Reliance Industries continues to be India’s most valuable company for the third consecutive year on the Burgundy Private Hurun India 500 in 2023, with a value of INR 15.6 lakh crore. Following closely are Tata Consultancy Services (TCS) at INR 12.4 lakh crore and HDFC Bank at INR 11.3 lakh crore.
In 2023, HDFC Bank, Larsen & Toubro, and ITC emerged as the most significant gainers in terms of absolute value change, experiencing substantial increases of INR 2,92,319 crore, INR 1,17,946 crore, and INR 1,04,452 crore, respectively. On the other hand, when considering percentage gains, Suzlon Energy (436%), Jindal Stainless (395%), and JSW Infrastructure (310%) stood out as the most noteworthy performers, highlighting their impressive growth rates during the same period.
Value of Listed Indian Unicorns
The Indian startup ecosystem witnessed a remarkable turnaround in 2023 as the combined value of the six unicorns listed on the stock exchange reached INR 262,958 crore, with an increase of INR 62,837 crores. This was a sharp improvement compared to the valuation loss of INR 166,013 crores in 2022.
- Zomato saw an impressive 76.2% YoY increase in its value, reaching INR 92,670 crore in 2023.
- Paytm demonstrated commendable growth with a 41.4% YoY increase, securing a total valuation of INR 58,527 crore in 2023.
- Nykaa, however, experienced a decline of 26.8% YoY in its value, settling at INR 40,009 crore in 2023.
- Policy Bazaar witnessed a string 83.2% YoY gain in its value to INR 31,792 crore in 2023.
- Delhivery recorded a solid 23.4% YoY growth in its value, reaching INR 30,832 crore in 2023.
- Honasa Consumer, the parent of Mamaearth, witnessed a modest 0.3% YoY increase in its valuation, amounting to a total of INR 9,128 crore in 2023.
The 2023 Burgundy Private Hurun India 500 represents a diverse array of companies spanning 16 states, with Maharashtra, Karnataka, Tamil Nadu, and Delhi emerging as the primary contributors to this prestigious ranking.
In terms of urban distribution, Mumbai takes the lead with a notable presence of 156 companies, boasting an impressive cumulative valuation of INR 1,12,90,152 crore. Following suit, Bengaluru hosts 59 companies with a combined valuation of INR 21,75,545 crore, while New Delhi accommodates 39 companies, collectively valued at INR 14,90,003 crore in 2023.
What adds a distinctive dimension to these top-performing companies is their intriguing age profile, showcasing a rich historical tapestry. The average age of the 2023 Burgundy Private Hurun India 500 stands at an impressive 38 years, underlining the enduring legacy of these enterprises.
Impressively, 21 companies carry a heritage of over a century, with the distinction of EID-Parry (India) as the oldest, established over 200 years ago. On the other end of the spectrum, the list embraces a powerful 153 companies founded in this millennium (from the year 2000 onwards), 52 of which are less than a decade old. Notable entrants in this youthful category include GlobalBees, Mensa Brands, Zepto, Motherson Sumi Wiring India, Apna, and CRED. This harmonious coexistence of established enterprises and innovative startups paints a vibrant and comprehensive picture of India’s diverse business landscape encapsulated in the Burgundy Private Hurun India 500.
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