Ø 63 companies in 2022 Burgundy Private Hurun India 500 are based in Karnataka
Ø The cumulative value of companies from Karnataka stands at INR 24.9 lakh crore
Ø Big 3: With a value of INR 6.5 lakh crore, Infosys is Karnataka’s most valuable company, followed by Titan Company with INR 2.5 lakh crore and Wipro with INR 2.1 lakh crore
Ø 4 companies from Karnataka doubled in value in the 2022 Burgundy Private Hurun India 500 List
Ø Financial Services led the way with 11 companies, followed by Software & Services and Retail with 10 and 8 entrants respectively.
Ø Total sales of companies from Karnataka in the 2022 Burgundy Private Hurun India 500 List cumulated to INR 5.7 lakh crore, a 10% increase compared to last year.
Ø The 2022 Burgundy Private Hurun India 500 companies from Karnataka employ 12.4 lakh people in total, with an average of 19,930 employees
Ø The average age of companies from Karnataka in this list is 17 years
December 1, Bengaluru: Burgundy Private, Axis Bank’s Private Banking Business and Hurun India launched the ‘2022 Burgundy Private Hurun India 500’. This is the second edition of the list of the 500 most valuable companies in India. These companies are ranked according to their value, defined as market capitalization for listed companies and valuations for non-listed companies. Hurun Report India and Burgundy Private launched a further analysis of most valuable non-state-controlled companies from Karnataka in the 2022 Burgundy Private Hurun India 500 List. The cut-off date to arrive at this list was 30th October 2022. This list refers to companies headquartered in India only; state-owned companies and subsidiaries of foreign as well as Indian companies are not included.
Commenting on the launch, Amitabh Chaudhry, Managing Director and Chief Executive Officer, Axis Bank said: “Burgundy Private is delighted to have partnered again with Hurun India in celebrating India’s 500 most valuable companies. The 2nd edition of the Burgundy Private Hurun India 500 report, featuring India’s 500 most valuable companies, could not have come at a better time. From a ‘rare bright spot,’ when most world economies are staring at a slowdown, India is slated to be entering its decade of eminence. Indian companies and their leadership deserve great acclamation for their contribution to the country’s unique positioning today, and they will play an even bigger role in making India the world’s third largest economy over the next decade.”
“Despite global challenges, the companies on the ‘2022 Burgundy Private Hurun India 500’ list created value to the tune of INR 226 lakh crore (USD 2.7 trillion), for their stakeholders. As India’s leading wealth management franchise, Burgundy Private witnessed this value creation from close quarters. The companies on this year’s list contributed immensely to nation building. The top line of these 500 companies is equivalent to 29% of India’s GDP, and these companies employ up to 1.5% of the country’s total workforce. What stood out in the report is that 67 companies on the list are younger than 10 years. These new-age companies will indeed shape the coming decade with their entrepreneurship, technology and digital innovations.”
“Axis Bank remains optimistic about the growth opportunities in the Indian economy. Our ability to deliver ‘One Axis’ as a full-service bank, offering varied solutions across all financial services, is a key area of our distinctiveness, allowing us to bring unique solutions to our customers. As India moves towards its most important decade, we look forward to partnering with the companies on the 2022 Burgundy Private Hurun India 500 list, as they move towards the next milestone in their growth journey”, he added.
Anas Rahman Junaid, MD and Chief Researcher, Hurun India said: “Hurun India is delighted to partner with Burgundy Private, Axis Bank’s Private Banking Business to release the 2022 Burgundy Private Hurun India 500. The 2022 Burgundy Private Hurun India 500 comprises of notable names from Karnataka including startups such as Zerodha, BYJU’S, Razorpay, Swiggy, CRED, Meesho, Ola Electric as well as IT veterans such as Infosys, Wipro and Mindtree. The report reflects the entrepreneurial spirit that the city harbours while positioning India as a preferred destination attracting investments for high-decibel growth. Karnataka has one of the most robust start-up ecosystem in the world and is a leader in the fintech space. Bengaluru is home to some of the leading tech start-ups in the world and has the highest growth rate in VC/PE investments. Scaling up quickly we expect some Bengaluru based start-ups to feature in the Global 500 list soon.”