HDFC Bank Limited, India’s second-largest private sector bank by assets, has grabbed the first position with a value of $9.4 billion in the list of 50 most valuable Indian brands, according to the first Indian edition of WPP's BrandZ report.
The first ever BrandZ ranking was commissioned by the world’s largest communications services group WPP Plc, while the valuation was conducted by Millward Brown, a brand equity and research valuation agency.
As per the report, HDFC Bank’s valuation was quite higher than telecommunications major Bharti Airtel’s $8.2 billion, which came second followed by State Bank of India (SBI) at third position with a value of $ 6.8 billion and ICICI Bank ($3.53 billion) at fourth position.
Bajaj Auto, Asian Paints, Hero MotoCorp, Idea Cellular, Kotak Mahindra Bank and Reliance Communications were the other brands that made it to the top 10.
The 50 brands belonged to 13 different categories, of which 17 are multinational corporations (MNCs), 26 are private Indian brands and seven are state-owned brands.
Seven of the top 10 brands and 30 per cent of the top 50 brands come from the service sector (banking, telecoms and insurance).
The total brand value of the top 50 Indian companies in the ranking was about $70 billion. Of the total, financial services grabbed 37 per cent proportion of the total brand value with 12 banks and insurers managing to mark their presence in the list.
The average brand contribution, defined as a measure of the impact that the brand alone has on value, of the top 5 brands is far higher than the overall average of the top 50.
"Analysis shows these brands have built value by successfully achieving scale – both in geographical reach and the diversity of their offerings. Telecoms, personal care and food and dairy sectors also feature strongly in the top 50. The data show that these brands – along with the other FMCG brands in the ranking – excel at connecting with Indian consumers,” the statement said.
In one of the key findings, the report also suggested that India has evolved into a brand powerhouse and that its top 50 most valuable brands have as much brand power (consumers' predisposition to choose that brand over another) as the global top 50, and are ahead of other emerging economies.
(Edited by Joby Puthuparampil Johnson)