Question
According to the Unlisted Gems 2026 report, which
company ranked as India’s largest unlisted company by revenue in 2025?Solution
The Unlisted Gems 2026 report released by JM Financial in collaboration with Hurun India identified Reliance Retail as India’s largest privately held unlisted company by revenue in 2025. The company recorded ₹2,71,227 crore in revenue, significantly higher than other privately held firms in the list. The report focuses on privately owned companies that are not publicly traded but generate large revenues and play an important role in India’s economic growth and corporate ecosystem.
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