India's 10 Largest Wealth Destroyers In 2013

By siliconindia | Thursday, 19 December 2013, 12:56 Hrs

5. DLF (Delhi Land and Finance)

In India, when it comes to real estate developers, DLF tops the list. Several residential colonies like Kailash colony, Krishna Nagar, Shivaji Park, Greater Kailash and many more are developed by DLF. Their total turnover in 2007 was around 3,120.98 crore and by 2012 they owned leased retail space of around 1.38 thousand square feet. They are great achievers but destroyed wealth of about 70,300 crore that will be around 4 percent of wealth destroyed.

6. Reliance Power

As Reliance tops the list of maximum wealth destroyer, Reliance Power—now a part of Anil Ambani Group, is also one among them. The main objective behind the foundation of Reliance Power was development, construction and operation of power projects in international markets. Approximately 61,900 crore that comes around 4 percent of wealth, has been destroyed.

7. BHEL (Bharat Heavy Electricals Limited)

BHEL is an integrated power plant owned by state, which is into manufacturing and engineering. Their operations include designing, construction, manufacturing, testing and servicing various products and services in several sectors. Being a state owned integrated plant, BHEL was earning profits consistently for six to seven years, but they have made through the list of wealth destroyer according to the recent study. The total wealth destroyed is whopping 57,400 crore which is about 3 percent.