In 2012, only three individuals from Hyderabad made it to the Hurun Rich List. By 2023, that number had skyrocketed to 87, drawing in prestigious brands like Sabyasachi Mukherjee and Rahul Mishra. Radisson Collection and Hansgrohe India have expanded their presence in the city. The first quarter of 2024 witnessed a 28% growth in the upscale market, with a rise in fashion sales, according to Malvika Poddar. Banjara Hills has also seen the arrival of VRK by Khanna Jewellers. Anas Rahman Junaid and Nikhil Sharma emphasize the market’s significant potential.
The rich list and the number of high-net-worth individuals are rising in Hyderabad, prompting luxury brands to take note.
Industry insiders say Hyderabad is now snapping at the heels of Delhi and Mumbai, making it a market to watch.
“In 2012, we had only three entrants from Hyderabad on the Hurun Rich List. Fast forward to 2023, and that number has surged to 87,” said Anas Rahman Junaid, founder and chief researcher of Hurun India.
“In 2023 alone, we welcomed 26 new entrants from the city, and 64 individuals saw their wealth increase. With the growing number of wealthy individuals and billionaires, Hyderabad is positioning itself as a major player in India’s luxury segment,” he added.
