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DLF promoter 4th richest in India
B G Shirsat in Mumbai
 
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July 05, 2007 19:29 IST

DLF has entered the league of the top 10 market-cap companies in India. With a market capitalisation of Rs 97,183 crore (Rs 971.83 billion) at the Day 1 stock price of Rs 570, the company will be ranked ninth in the list.

ICICI Bank [Get Quote], though ranked 8th with a market cap of Rs 88,960 crore (Rs 889.60 billion), will remain at that position or can move up after the listing of shares of its Rs 20,000 crore (Rs 200 billion) follow-on public offer.

Reliance continues to be the leader with a market cap of Rs 2,40,000 crore (Rs 2,400 billion).

ONGC [Get Quote] is at number two followed by Bharti, NTPC, Reliance Communications [Get Quote], Infosys [Get Quote], TCS [Get Quote] and ICICI Bank. BHEL, with a market cap of over Rs 75,000 crore (Rs 750 billion), rounds off the top ten ranking.

DLF has become the first real estate firm to enter the list of the top 10 market-cap companies. As the promoter holding in DLF is a huge 87.43%, the net worth of K P Singh and his family will be around Rs 84,968 crore (Rs 849.68 billion).

The DFL promoters, however, will still be only the fourth richest Indian after Mukesh Ambani, Sunil Mittal and Anil Ambani. Azim Premji, the promoter of Wipro [Get Quote], will slip to number five in the new billionaire list.

Mukesh Ambani with a net worth of over Rs 150,000 crore (Rs 1,500 billion) is the undisputed leader of the billionaire club. Sunil Mittal who hold 60.95% in Bharti is worth Rs 100,000 crore (Rs 1,000 billion).

Anil Ambani will be at number three with a net worth of Rs 85,600 crore (Rs 856 billion), followed by K P Singh and Azim Premji with a net worth of Rs 61,600 crore (Rs 616 billion).

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