Summary:
Bharti Airtel has become India’s third most valuable company, surpassing major IT firms such as TCS, Infosys, and Wipro after generating nearly ₹7.65 trillion in value over the past five years. According to the Burgundy Private Hurun India 500 report, while the IT sector collectively lost around ₹8.5 trillion in market value, Airtel strengthened its position through steady business growth and improved financial performance, supported by an S&P Global ratings upgrade. Reliance Industries retained the top spot as India’s most valuable company, followed by HDFC Bank and Airtel. The report also highlighted the significant economic contribution of India’s leading private companies, which together are valued at $3.4 trillion, contributed ₹3.23 trillion in taxes, spent ₹13,433 crore on CSR initiatives, and saw several firms across sectors such as finance, EVs, real estate, pharmaceuticals, and manufacturing more than double their valuations over the last five years.
Bharti Airtel has emerged as India’s third most valuable company, overtaking major IT firms such as TCS, Infosys, and Wipro. According to recent reports, the telecom operator generated wealth worth approximately ₹7.65 trillion over the last five years, placing it among the country’s leading value creators during this period.
Airtel Climbs to Third Position as IT Sector Faces Sharp Value Erosion
Data from the Burgundy Private Hurun India 500 report indicates that technology giants TCS, Infosys, and Wipro collectively witnessed a decline of nearly ₹8.5 trillion in market value, making information technology the sector that recorded the largest wealth erosion.
In contrast, Bharti Airtel continued to strengthen its position through consistent business growth and improved earnings. Its progress was further reinforced by S&P Global, which upgraded the company’s global issuer rating from BBB- to BBB+.
The report ranked Reliance Industries as India’s most valuable company for the fifth consecutive year, with a valuation of ₹19.36 trillion. HDFC Bank secured the second position with a valuation of ₹11.88 trillion, while Bharti Airtel followed closely in third place with a market value of ₹11.50 trillion.
Commenting on the findings, Hurun India Founder and Chief Researcher Anas Rahman noted that the companies featured in the 2025 Burgundy Private Hurun India 500 represent the foundation of India’s private sector. Collectively, these firms command a valuation of $3.4 trillion, exceeding the GDP of Canada and even surpassing the combined GDP of Indonesia and Spain.
The fifth edition of the report, released jointly by Burgundy Private, Axis Bank’s Private Banking division, and Hurun India, also highlighted the broader economic contribution of India’s 500 most valuable privately owned companies. Together, they contributed around ₹3.23 trillion in taxes and spent ₹13,433 crore on corporate social responsibility initiatives.
Multiple Sectors Witness Strong Valuation Growth
The report further revealed that 12 companies managed to more than double their valuations over the last five years. These businesses span sectors such as financial services, real estate, electric vehicles, pharmaceuticals, consumer products, and manufacturing. Notable names include Ather Energy, Groww, Adani Properties, Lenskart, Paharpur Cooling Towers, and Adani Power.
