India’s real estate landscape is at an inflection point. Over the past decade, the sector has shifted from prioritising affordability to catering to a growing population that demands premium and luxury homes.
To spotlight this shift, here’s presenting Forbes India Developers A-List, powered by the Jaquar Group, an initiative to recognise and celebrate the most influential names in India’s luxury realty sector. Curated in partnership with Knight Frank India, the list will identify and honour 25 developers who have set benchmarks in innovation, trust, design, and delivery.
The study has assessed 175 developers, using a funnel-based approach to narrow the field to 30 names (15 ranked, 15 unranked). They have been evaluated across various parameters including price, density and design, location, unit size and scale, among others.
The process has ensured that the final list not only represents developers who meet financial and design criteria but are also considered credible and have been consistent across their projects.
As the Forbes India Developers A-List makes its debut on September 20, 2025, it's only fitting to begin with Jaquar Group, a brand that has not only set benchmarks in luxury living, but has also shaped how millions of Indians experience their homes.
The multi-diversified company offering bathroom and lighting solutions began in 1960 when founder NL Mehra had one dream—adding quality to every Indian home. This dream gave birth to the brand Essco, a bath fittings brand.
We sat down with his son Rajesh Mehra, the director and promoter of the Jaquar Group, at their opulent Manesar office in Gurugram—a space that could easily pass for a five-star hotel—to understand where India’s realty sector is headed and why brands like his matter in shaping its future.
Recounting the initial days, Mehra says that they were full of struggles.
“My father invested all the money and the only capital he was left with was hard work and the brand became a household name in India,” says Mehra. “My brothers and I joined the business in the early 80s and were lucky because our father had built a solid platform for us.”
Today, the made-in-India company is a global name across 55-plus countries and along with its flagship brand, Jaquar, has also launched the luxury line, Artize.
Jaquar’s production capacity includes over 45.9 million bath fittings, 4.2 million sanitary ware units, and 24.6 million lighting pieces annually. Backed by international certifications and award-winning design, Jaquar has earned its place as India's most searched path brand, drawing over 54 million digital visitors each year, with $876 million in revenue and a 12,000 strong global team.
Mehra attributes the growth to the evolution of customers and the changing meaning of luxury in their minds.
“As a brand, we have always anticipated the way the market is evolving,” he says. “We sensed that there would be a need for a strong luxury brand, and we came up with Artize, which is luxurious in all aspects—products, designs, experience, customer care.”
With the real estate sector booming, especially in the premium and upper mid-income residential segment, Mehra says that Jaquar didn’t wait for the winds to change direction.
“You have to initiate the process. You are not a market leader by numbers, it’s how you shape and transform the market,” he adds.
Emphasising that no industry can survive without innovation, he says it is important to look at it as a lifeline and a reason to grow organically.
“One of our very strong points is our R&D. We keep challenging ourselves,” he says. “It’s not about looking at the competition. It’s about seeing how we can take our products to the next level.”
While innovation is key, touching upon sustainability is as important, especially when talking about the realty sector.
At Jaquar, over one lakh kilo litres of water and 7,600 metric tons of brass are recycled annually, ensuring zero liquid discharge. To power this green shift, the group taps into 13.5 megawatt of solar energy, helping reduce over 18,500 tons of carbon emissions annually.
Mehra adds that his company was also the first to set up an effluent treatment plant in 1988, “…when nobody thought about it and there were no regulations,” he states. He adds, “At Jaquar, we take sustainability very seriously. We see it as a responsibility, and it’s not just restricted to products, but incorporated in our manufacturing processes too.”
It is to highlight efforts in innovation, sustainability, and others, that aligning with initiatives like the Forbes India Developers A-List comes at a suitable time.
“It's all about the people who are doing a real good job, bringing a lot of value to the construction industry, making a difference to the lives of homeowners. So it's how we can not only appreciate their efforts, but also reward them,” he says. And adds, “Everybody can’t be a leader and test new waters. These are people who had the courage, brought in a lot of innovation, and brought in good practices.”
Lastly, he says, initiatives like these matter because it brings all the stakeholders together, creates a constructive platform for interaction, to learn from each other and move forward.
Stay tuned for the reveal of the Forbes India Developers A-List, to celebrate the visionaries who are redefining the way India lives and dreams.
First Published: Sep 19, 2025, 20:14
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