Methodology

The inaugural 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses, compiled by the Hurun Research Institute, aims to celebrate and recognize India's foremost family-run enterprises. To be included on the list, a next-generation member from the founding family must be actively involved in managing the business or serving on its board. This initiative highlights the integral role family businesses play in the Indian economy, contributing significantly to its growth and stability.

The rankings are determined based on company valuations as of the cut-off date, March 20, 2024. The methodology for valuation excludes private investments and liquid assets, and it adjusts for cross holdings to prevent double counting. For instance, with the Taparia Family, we considered the full value of Supreme Industries and 70% of Supreme Petrochem. The remaining 30% of Supreme Petrochem is owned by Supreme Industries, so we assume its value is already included and, therefore, excluded it from our calculations.

Overall, Hurun Research's primary objective with this report is to provide a comprehensive overview that both acknowledges and celebrates the critical role that family businesses hold within the country.

Disclaimer and Notices

 

Barclays Disclaimer

 

All the names featured on the list are solely based on the facts from the Hurun India research report generated for this list.

 

Barclays offers private and overseas banking, credit and investment solutions to its clients through Barclays Bank PLC and its subsidiary companies. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No.122702) and is a member of the London Stock Exchange and NEX. Registered in England. Registered No. 1026167. Registered Office: 1 Churchill Place, London E14 5HP.

 

Barclays Bank PLC. Registered in England. Registered No: 1026167. Registered Office: 1 Churchill Place, London, E14 5HP. Registered Office in India: 801/808 Ceejay House, Shivsagar Estate, Dr Annie Besant Road, Worli Mumbai 400 018. Barclays Bank PLC is a member of Banking Codes and Standards Board of India.

 

Barclays offers wealth and investment products and services to its clients through Barclays Bank PLC registered in England and operates in India through its subsidiaries, including Barclays Securities (India) Private Limited (BSIPL). BSIPL is a company incorporated under the Companies Act, 1956 having CIN U67120MH2006PTC161063. BSIPL is registered and regulated by the Securities and Exchange Board of India (SEBI) as a Portfolio Manager INP000002585, Stock Broker INZ000269539 (member of NSE and BSE), Research Analyst: INH000001519; Depository Participant: IN-DP-478-2020 (DP of NSDL), Investment Adviser: INA000000391. BSIPL is also registered with BSE Administration and Supervision Limited (BASL): BASL1835 and as a Mutual Fund Distributor having AMFI ARN No. 53308. The registered office of BSIPL is at Nirlon Knowledge Park, 9th floor, Block B-6, Off. Western Express Highway, Goregaon (East), Mumbai – 400063, India. Telephone No: +91 22  61754000 Fax number: +91 22 61754099  Chief Compliance Officer contact details: Name: Mr. Vaibhav Purohit, Contact number: +91 22 61752271, E-mail: bsipladvisorycompli@barclays.com Investor Grievance E-mail: xrabsiplconcerns@barclays.com  Website: www.barclays.in/bsipl

 

BWTIPL is a company incorporated under the Companies Act, 1956 having CIN U93000MH2008PTC188438. BWTIPL is a Corporate Agent (Composite) of (i) HDFC Standard Life Insurance Company Limited and (ii) ICICI Lombard General Insurance Company Limited, under IRDA Registration Code CA0078. The registered office of BWTIPL is at  Nirlon Knowledge Park, 9th floor, Block B-6, Off. Western Express Highway, Goregaon (East), Mumbai – 400063, India. Telephone No: +91 22  61754000 Fax number: +91 22 61754099 Email Address for corporate agency (insurance) matters: xrawealthindiainsura@barclayscapital.com, Email Address for other matters: bwwaindia@barclays.com / wealthindiatrust@barclays.com. Grievance Officer contact details: Name: Ms. Poonam Mirchandani, Contact number: +91 022 6719 6359, E-mail: BWTIPL.concerns@barclays.com Website: www.barclays.in/BWTIPL

 

Barclays Investments & Loans (India) Private Limited (BILIPL) is a company incorporated under the Companies Act, 1913 having CIN U93090MH1937FTC291521. BILIPL is registered and regulated by the Reserve Bank of India (RBI) as a Non-Banking Finance Company (NBFC): Registration no.B-13.02176. The registered office of BILIPL is at. Nirlon Knowledge Park, Level 10, Block B-6, Off Western Express Highway, Goregaon (East), Mumbai - 400063, India. Telephone No: +91 22 61754000. Fax number: +91 22 61754099. Grievance Redressal Officer contact details: Name: Mr. Ruzbeh Sutaria, Contact number: +91 22 61754244,Grievance E- mail: bililcompliance@barclayscapital.com. Website: www.barclays.in/BILIL

 

Hurun Report Disclaimer

This report has been prepared by the Hurun Report. All the data collection and the research has been done by the Hurun Report. This report is meant for information purposes only. Reasonable care and caution have been taken in preparing this report. The information contained in this report has been obtained from sources that are considered reliable. By accessing and/or using any part of the report, the user accepts this disclaimer and exclusion of liability which operates to the benefit of Hurun Report. Hurun Report does not guarantee the accuracy, adequacy or completeness of any information contained in the report and neither shall it be responsible for any errors or omissions in or for the results obtained from the use of such information. No third party whose information is referenced in this report under the credit to it assumes any liability towards the user with respect to its information. Hurun Report shall not be liable for any decisions made by the user based on this report (including those of investment or divestiture) and the user takes full responsibility for their decisions made based on this report. Hurun Report shall not be liable to any user of this report (and expressly disclaim liability) for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential losses, loss of profit, lost business and economic loss regardless of the cause or form of action and regardless of whether or not any such loss could have been foreseen.

About Barclays Private Bank

 

Barclays Private Bank provides a full-suite of specialist investment, banking, lending and wealth advisory solutions to the world’s most influential people and their families in 40 countries through our global network of private bankers.

 

By unleashing the full power of the wider Barclays Group and with 330 years of experience, we're able to tailor opportunities to support our clients’ unique ambitions and surround them with the experts they need. Enabling them to invest in the future, and influence tomorrow with confidence.

 

About Hurun Inc.

Promoting Entrepreneurship Through Lists and Research

Oxford, Shanghai, Mumbai, Sydney, Paris

Established in the UK in 1999, Hurun is a research, media and investments group, promoting entrepreneurship through its lists and research. Widely regarded as an opinion-leader in the world of business, Hurun generated 8 billion views on the Hurun brand last year, mainly in India and China. Best-known today for the Hurun Rich Index series, telling the stories of the world’s successful entrepreneurs in China, India and the world, Hurun’s two other key series include the Hurun Start-up series and the Hurun 500 series, a ranking of the world’s most valuable companies.

The Hurun Start-up series begins with the Hurun U30s, recognizing the most successful entrepreneurs under the age of thirty, and is today in seven countries. Next up are Hurun Cheetahs, Chinese and Indian start-ups with a valuation of between USD 300mn to USD 500mn, most likely to go unicorn with five years. Hurun Global Gazelles recognize start-ups with a valuation of USD 500mn to USD 1bn, most likely to go unicorn within three years. The culmination of the start-up series is the Hurun Global Unicorn Index.

Other lists include the Hurun Philanthropy Index, ranking the biggest philanthropists, the Hurun Art Index, ranking the world’s most successful artists alive today.

Hurun provides research reports co-branded with some of the world’s leading financial institutions, real estate developers and regional governments.

Hurun hosted high-profile events in the last couple of years across China and India, as well as London, Paris, New York, LA, Sydney, Luxembourg, Istanbul, Dubai and Singapore.

About Hurun India

“Promoting Entrepreneurship Through Lists and Research”

About Hurun India “Promoting Entrepreneurship Through Lists and Research” Hurun India was launched in 2012, under the leadership of Anas Rahman Junaid, a graduate of the University of Oxford. Junaid met Rupert Hoogewerf, the founder of Hurun Global, through Oxford University and the duo thought it was the right time to speak about wealth creation in India as they saw India booming. Since then, Hurun India has been in pursuit to celebrate the stories of India’s transparent wealth creation, innovation, and philanthropy. The Five core pillars of Hurun India are:

First, we spotlight Value Creation by companies, the heartbeat of a developing India. It's through their innovation and excellence that economic growth is fuelled, paving the way for a prosperous tomorrow.

Next, we focus on Wealth Creation. As these companies thrive, wealth is generated, birthing a new era of affluent entrepreneurs and businesses. This wealth is not just financial; it's a wealth of knowledge, experience, and opportunity, essential for India's next 10-15 years. For exponential growth, disruption is key.

Enter our third pillar: Start-Ups. These engines of innovation are the primary source of leapfrog growth, challenging the status quo and opening new doors of possibilities. While economic development is crucial, philanthropy plays an equally vital role in ensuring wider prosperity.

Our fourth pillar, Philanthropy, is about giving back, creating a balanced ecosystem where everyone progresses together.

Lastly, we celebrate our rich heritage with the fifth pillar: Culture. India, home to one of the oldest civilizations, boasts a myriad of artists. Yet, they remain undervalued on the global stage. The Hurun India Art List aims to change this, promoting our artists to the Hurun network, encouraging appreciation and collection of their work.

For the full details, please refer to www.hurunindia.com

For media inquiries, please contact:

Swati Singh Barclays Bank PLC +91 9874560033 Swati.singh4@barclays.com

Shobita George Hurun Report +91 9446580594 media.queries@hurunindia.net

Communicate India Hesha Parekh / Vidhi Shah /  Riya Shah +91 9833113169 / +91 9930840442 / +91 9769405832 hesha.parekh@communicateindia.com vidhi.shah@communicate.com riya.shah@communicate.com