India's most valuable family businesses of 2025: Barclays Hurun Top 10 revealed
The combined valuation of India’s most valuable family-led enterprises has surged to Rs 66.7 lakh crore in 2025, with energy, finance, and software driving growth.
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India's most powerful business dynasties are riding a wave of unprecedented growth, with the top 10 family-led enterprises now worth a staggering Rs 69 lakh crore in 2025 - a sharp rise from Rs 59.5 lakh crore last year.
The findings, revealed in the Barclays Private Clients Hurun India Most Valuable Family Businesses List, underscore the enduring influence of family-run conglomerates in shaping the nation's economy.
The Bajaj Family and Kumar Mangalam Birla Family round out the top three, with valuations of INR 8 Lakh Cr and INR 6.5 Lakh Cr, respectively. Financial services see strong representation through the Bajaj and Murugappa families, while Software & Services continue to feature prominently with HCL Technologies and Wipro.
The Dani, Choksi, and Vakil families re-enter the list at tenth position via Asian Paints, underscoring the strength of legacy consumer brands.
Energy, financial services, and software continue to power much of this wealth creation, with several legacy businesses expanding their global reach while adapting to new market realities.
The Top 10 Family Businesses of 2025:
1. The Ambani Family - Rs 28.2 lakh crore: Reliance Industries, founded in 1957 and now led by second-generation leader Mukesh Ambani, remains India's largest family business. Its dominance spans energy, retail, and digital services.
2. The Bajaj Family: The Bajaj family ranks second in the list, with a value of Rs 8 Lakh Cr. Led by Sanjiv Bajaj, the business focuses on financial services. Established in 1926 and currently run by the fourth generation, the Bajaj Group continues to expand its footprint in India’s financial ecosystem through innovation and strategic diversification.
3. Kumar Mangalam Birla Family - The Kumar Mangalam Family ranks third on this list, with a value of Rs 6.5 lakh crore. Led by Kumar Mangalam Birla, the Aditya Birla Group is a major player in the cement and cement products industry. Now run by the fourth generation, the business traces its origins back to the 1850s. The family's longstanding legacy of industrial leadership reflects a deep-rooted commitment to innovation and expansion across global markets.
4. The Jindal Family - The Jindal family secures the fourth position with a value of Rs 5.7 Lakh Cr. Spearheaded by Sajjan Jindal, JSW Steel represents the group’s strong presence in the metals and mining industry. A second-generation business, the Jindals have built one of India’s largest steel producers, contributing significantly to India’s infrastructure and industrial growth.
5. The Mahindra Family - Rs 5.4 lakh crore: Anand Mahindra’s diversified conglomerate, founded in 1945, spans automobiles, components, and more, with a focus on sustainable innovation.
6. The Nadar Family - Rs 4.7 lakh crore: Roshni Nadar Malhotra leads HCL Technologies, a global IT services powerhouse established in 1976.
7. The Murugappa Family - Rs 2.9 lakh crore: Operating since 1900, the group’s presence in financial services, helmed by Vellayan Subbiah, continues to expand.
8. The Premji Family - Rs 2.8 lakh crore: Wipro, led by Rishad Premji, remains a global software leader with a strong innovation legacy.
9. Anil Agarwal Family - Rs 2.6 lakh crore: A first-generation success story in metals and mining through Hindustan Zinc.
10. Dani, Choksi & Vakil Families - Rs 2.2 lakh crore: Promoters of Asian Paints, a chemicals and petrochemicals market leader, now managed by professional leadership.
