Rajiv Singh is the only heir of Kushal Pal Singh, the real estate tycoon who retired in 2020 at the age of 90 and entrusted the leadership of DLF to Rajiv Singh.
According to GROHE-HURUN India, Rajiv Singh, the chairman of DLF, is the richest real estate entrepreneur in India with a substantial wealth of Rs 59,030 crore.
Mangal Prabhat Lodha and his family, who are associated with Mumbai-based Macrotech Developers (Lodha Group), hold the second position on the list with a fortune of Rs 42,270 crore. Arjun Menda and his family from RMZ Corp are ranked third with a wealth of Rs 37,000 crore.
According to Anas Rahman Junaid, Managing Director of Hurun India, the minimum requirement to enter the top 10 wealthiest individuals has skyrocketed from Rs 3,350 crore in 2017 to an astonishing Rs 15,000 crore today. Similarly, the threshold to be included in the top 50 has increased from Rs 660 crore in 2017 to Rs 1,300 crore at present.
Who is Rajiv Singh?
In 2020, at the age of 90, real estate magnate Kushal Pal Singh retired and entrusted the leadership of DLF to his sole heir, Rajiv Singh.
Since joining DLF, Rajiv Singh has implemented various initiatives to broaden the company’s scope by venturing into additional sectors such as retail, hospitality, and insurance. DLF was previously the sponsor of the Indian Premier League (IPL) as well. Rajiv Singh is recognized for successfully growing DLF’s annuity business from Rs 1.55 crore in 2007 to Rs 2,900 crore in 2019.
Rajiv Singh holds a degree in Mechanical Engineering from the Massachusetts Institute of Technology (MIT), USA. With over 30 years of professional experience, he brings a wealth of knowledge and expertise to his endeavors.
Rajiv Singh, the real estate tycoon, is shifting his focus towards high-rise projects for the future. In a statement to the Economic Times in 2022, he expressed his belief that there may come a time when there are no more available floors, and all developments will transition into high-rise housing.
During the fiscal year 2021-22, DLF reported a revenue of Rs 6,138 crore, and the comprehensive income of the prominent real estate sector company amounted to Rs 1,513 crore. Rajiv Singh’s total compensation for the same period was Rs 15.49 crore, reflecting a significant increase compared to the previous year when it stood at Rs 3.2 crore in 2020-21.