BENGALURU: Start-ups in India are producing significant companies, as just under 11% of the 2021 Burgundy Private Hurun India 500 are less than 10-years old, mainly led by Mensa Brands, Apna, CRED, BharatPe, Mobile Premier League and Zetwerk. Of these start-ups, 53 are unicorns.
As many as 52 companies are younger than 10 years, led by Mensa Brands, the youngest company to feature on the list, founded just 6 months ago. It reached unicorn status recently. Burgundy Private, Axis Bank’s Private Banking Business and Hurun India on Thursday launched the first edition of the ‘2021 Burgundy Private Hurun India 500’, a list of the 500 most valuable companies in India. The report also mentioned that women make up 16% of the board of directors.
Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, “The report also throws insights on the economic winners and losers of Covid-19. The 2021 Burgundy Private Hurun India 500 saw their value go up 68%, or a massive Rs 90 lakh crore, to a total of Rs 228 lakh crore. Half of that came from companies based in Maharashtra.
About Rs 46 lakh crore came from just four companies — Reliance Industries, Tata Consultancy Services, HDFC Bank and Infosys. As many as 14 Tata group companies added Rs 8.5 lakh crore and accounted for nearly 10% value of the 2021 Burgundy Private Hurun India 500.”Also, according to the report, the total value of top 10 companies (such as Infosys, Wipro, BYJU’s, InMobi and Mindtree) grew 87% to Rs 16.2 lakh crore.
Companies younger than 10 years
As many as 52 companies are younger than 10 years, led by Mensa Brands, the youngest company to feature on the list, founded just 6 months ago. It reached unicorn status recently.