Hyderabad has 19,800 millionaire families, ranks 8th in India

HYDERABAD: Hyderabad ranks eighth among Indian cities, with 19,800 millionaire families, while Visakhapatnam has 2,900 such households, placing it 14th. Maharashtra leads among states, while Mumbai tops the city list.

The number of millionaire households in India has grown 90% in just four years, rising from 4,58,000 in 2021 to 8,71,700 in 2025, according to the Mercedes-Benz Hurun India Wealth Report 2025. Between 2017 and 2025, millionaire households in India grew 445%, now forming 0.31% of all families.

More families entering ₹100 crore and billionaire clubs

Of those who were millionaires in 2017, about 66,800 families (5%) moved into the ₹100-crore wealth bracket by 2025. Around 1.3% entered the ₹200-crore category, 0.07% into the ₹1,000-crore club, and 360 families (0.01%) became billionaires.

The report noted that Hyderabad’s growth is supported by strong equity markets, expanding business opportunities, and technology-driven investments.

Spending habits and lifestyle trends

The report’s Luxury Consumer Survey found that around 60 millionaire families spend over ₹1 crore annually on travel, education, and entertainment.

When asked about financial freedom, 27% said ₹50 crore was sufficient, while 20% insisted on ₹200 crore.

Lifestyle choices also stand out: 40% of respondents use a car for over six years, 27% prefer yoga for fitness, and 42% said they would educate their children in India, though the US (19%) and UK (14%) remain top overseas choices.

Millionaires spreading to tier-2 cities

While Mumbai and Delhi remain hubs, millionaire families are increasingly emerging in tier-2 cities such as Ahmedabad, Surat, Visakhapatnam, Jaipur and Lucknow.