BENGALURU: IT services company Infosys leads as Karnataka's most valuable company with a valuation of Rs 7.99 lakh crore, followed by Wipro (Rs 3,18,270 cr) and Titan (Rs 3,07,780 crore).
Food and grocery delivery platform Swiggy ranks fourth with a valuation of Rs 1,20,320 crore, followed by brokerage platform Zerodha ( Rs 87,750 cr) in the 2024 Burgundy Private Hurun India 500.
Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India, launched the fourth edition of the list of India's 500 most valuable companies on Tuesday. The list features 45 companies from Karnataka with 21 of them being start-ups.
The total value of the top 10 companies from Karnataka increased by 35% to Rs 19.1 lakh crore, which is equivalent to 6% of the total value of the 2024 Burgundy Private Hurun India 500. Bengaluru dominated the Karnataka list as 44 companies are headquartered in the city.
In terms of growth, the 2024 Burgundy Private Hurun India 500 from Karnataka was led by Mysuru-based Kaynes Technology India (Rs 40,220 cr value with 191% growth), followed by Sobha (168% and Rs 17,940 cr value) and Prestige Estates Projects (131% and Rs 69,720 cr value).
Anas Rahman Junaid, Founder and Chief Researcher, Hurun India said, “Karnataka continues to make a powerful mark in the 2024 Burgundy Private Hurun India 500, with 45 companies on the list, including an impressive 21 start-ups."
He added, "The cumulative value of these companies has surged to Rs 25.9 lakh crore, showcasing the state’s robust business environment. Start-ups have played a crucial role in this growth, further solidifying Karnataka’s reputation as India’s leading innovation hub. Additionally, employment in these companies has risen by 29% since 2021, now standing at 13 lakh people."
In the India list, Reliance Industries tops with a valuation of Rs 17.5 lakh crore, followed by Tata Consultancy Services (Rs 16,10,800 crore). The combined value of the top 10 companies increased by Rs 22.7 lakh crore to Rs 96 lakh crore (USD 1.1 trillion).
The National Stock Exchange, valued at Rs 4.7 lakh crore, is the highest value creator in percentage terms. Bharti Airtel has contributed the highest value in absolute terms, adding more than Rs 4 lakh crore this year.
Start-ups in the list collectively registered a net increase of Rs 1,09,259 crore, led by Zepto, OYO, and Zerodha. The 2024 Burgundy Private Hurun India 500 companies employ 84 lakh people, an increase of 14 lakh from last year, with an average of 21,000 employees per organisation. This year, the list features new entrants including Waaree Energies, SRF, and Premier Energies.