192 years vs 3 years old: What are the oldest and youngest Indian companies on Hurun list

The average age of the companies to feature on the 2024 Burgundy Private Hurun India 500 list is 43 years, with many over 100 years, and some as young as 10 years or less. 

The Hurun list stated that as many as 23 companies have a history of more than 100 years, with the oldest, PNG Jewellers, 192 years old. The list stated that in this millennium 111 companies were founded, out of which 34 are less than 10 years old, including Zepto, Motherson Sumi Wiring India, CRED and OneCard.

The oldest company on the list is Pune-based PNG Jewellers, valued at Rs 10,300 crore. It was founded in the year 1832. The youngest company is Zepto, founded in 2021, and valued at Rs 42,410 crore. 

Companies must have a minimum value of Rs 9,580 crore or $1.1 billion as of December 13, 2024 to be included in the ‘2024 Burgundy Private Hurun India 500’ list. “The qualification threshold for the 2024 Burgundy Private Hurun India 500 has increased from INR 6,700 crore to INR 9,580 crore, reflecting the financial growth of Indian enterprises. For the first time, every company on the list has achieved billion-dollar status. The cumulative revenue of these companies is US$ 1 trillion, which is more than a quarter of India’s GDP,” said Anas Rahman Junaid, founder and Chief Researcher, Hurun India. 

Junaid said that the companies from the list make the backbone of India’s private sector, and have a cumulative valuation of $3.8 trillion, which is higher than the GDP of India. These companies together employ 8.4 million people. 

The list shows that the economy has undergone a massive change in just three years. Junaid said that 82 of the 500 companies are new faces. More than one-third of the companies from three years ago have dropped off the list. Industrial products, healthcare, and energy, are the industries with the most new entrants while the industry with the most drop-offs was financial services.

“Only 33 of 2024 Burgundy Private Hurun India 500 made the Hurun Global 1000. One reason is that these Indian companies are, relatively speaking, very young. The average age of 2024 Burgundy Private Hurun India 500 is 43 years, 24 years younger than the average age of the Hurun Global 500,” said Junaid.