Sunil Mittal led Bharti group also posted a robust 28.9% annual increase in market cap since the 2021 Diwali, the highest return among the top 10 business houses. Bharti Airtel’s net profit has increased significantly over the past five years helped by an uptick in tariff plans for its mobile and data services and rising consumption of digital content in the country. Net profit increased more than four-fold between FY22 and FY25 to Rs37,481 crore from Rs 8,305 crore. It rose further to Rs40,186 crore in the 12 months (TTM) to June 2025.
The market cap of Mahindra group, which ranked third on the list, increased in double digits in each of the three years to Samvat 2081. The group’s major company Mahindra and Mahindra, has been improving its market share in the sports utility vehicles (SUV) and tractor segments aided by new product launches. The company’s net profit nearly doubled between FY22 and FY25 to Rs14,073 crore from Rs7,253 crore and increased further to Rs14,904 crore in TTM to June 2025.
The four out of top 10 business groups failed to increase their market cap in the past Samvat year that ended on October 20, 2025. The Shiv Nadar founded HCL Technologies group and the Tata group posted 15.4% and 13.6% loss in their market caps respectively.