A total of 53 companies from Karnataka, with a cumulative value of Rs 23 lakh crore, have made it to the ‘2021 Burgundy Private Hurun India 500’, a list of the 500 most valuable companies that are headquartered in India. With a value of Rs 7.51 lakh crore, Infosys is Karnataka’s most valuable company, followed by Wipro, with Rs 3.67 lakh crore, and BYJU’s with Rs 1.35 lakh crore. The total value of the top 10 companies from Karnataka grew 87% to Rs 16.2 lakh crore. In terms of growth, the 2021 Burgundy Private Hurun India 500 from Karnataka was led by InMobi followed by Meesho and Daily Hunt.
The first edition of the ‘2021 Burgundy Private Hurun India 500’ list was launched by Burgundy Private, Axis Bank’s Private Banking Business and Hurun India. Twenty-nine companies doubled in value and two companies rose by Rs 1 lakh crore from Karnataka in the list. Software & Services and Financial Services led the way with nine companies each, followed by Healthcare and Real Estate with six companies each.
In terms of the number of people employed, companies from Karnataka in the 2021 Burgundy Private Hurun India 500 employ 1 million people, an average of 19,096. Seven have more than 10,000 employees, led by Quess Corp with 3,63,136 employees and Infosys with 2,59,619 employees. Infosys employs the most number of women in Karnataka, at 1,00,321, followed by Wipro with 72,000 women employees as per the list.
The total value of the 2021 Burgundy Private Hurun India 500 companies is close to Rs 228 lakh crore (USD $3 trillion), which is higher than India’s GDP for FY21. The top line of these 500 companies is equivalent to 29% of India’s GDP and they employ up to 1.5% of the total workforce of the country, according to the report. “What is most heartening is that nearly 10% of these companies are younger than 10 years, representing India’s vibrant tech ecosystem. We believe that India’s new economy companies will witness greater representation in this list in the times to come,” the report adds.
Anas Rahman Junaid, MD and Chief Researcher of Hurun India said, "The first edition of Burgundy Private Hurun India 500 comprises notable names ranging from startups such as InMobi, Zerodha, BYJU’S, Swiggy, Meesho, Ola Electric to veterans such as Infosys, Wipro and Mindtree. The report reflects the entrepreneurship spirit that the city harbours while positioning India as a preferred destination attracting investments for high-decibel growth.”