THE 2025 EDITION of the Burgundy Private Hurun India 500, an annual ranking of India’s most valuable non-state-run companies, has reported five IPL franchises entering the list of India’s most valuable businesses.
Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India, released the ‘2025 Burgundy Private Hurun India 500’, which is the fifth edition of the list of India’s 500 most valuable companies. These are collectively valued at $3.4 trillion, reflecting a corporate landscape where scale is matched by broader entrepreneurial participation, stronger fundamentals, and a widening footprint beyond traditional growth centres, a media release said.
For the first time, major IPL teams have secured their positions among India’s top 500 most valuable companies, signaling their evolution into mature business enterprises. The debutants include: Kolkata Knight Riders (Rank #270, INR 20,850 crore) Chennai Super Kings (Rank #285, INR 19,550 crore) Royal Challengers Bengaluru (Rank #330, INR 16,700 crore) Rajasthan Royals (Rank #343, INR 15,700 crore) Punjab Kings (Rank #390, INR 14,050 crore)
Now in its fifth edition, the 2025 Burgundy Private Hurun India 500 ranks India‑headquartered companies by market capitalisation or enterprise value, excluding state‑owned enterprises and subsidiary entities. To qualify for inclusion in the 2025 list, companies needed a minimum valuation of INR 10,230 crore (US$1.1 billion) as of April 30, 2026. This threshold grew by 7% compared to last year. Collectively, these companies are strengthening the country’s economic fabric, employing 8.9 million people, contributing INR 3.23 lakh crore in taxes, and investing INR 13,433 crore in CSR initiatives, the release said.
