With just two days to go before Prime Minister Narendra Modi completes his second year in office, 'Acche Din' still looks distant for equity investors. Data compiled by ETMarkets.com showed how investors of 15 top Indian corporate houses cumulatively lost 17 per cent of their wealth ever since Modi took over as the 15th Prime Minister of India on May 26, 2014.

As of today, these 15 corporate houses have combined market value in excess of Rs 31 lakh crore, which is about one-third of BSE's current market capitalisation at Rs 96 lakh crore.

The combined market wealth of these corporate houses stood at Rs 37.44 lakh crore the day Modi took oath as PM and Rs 36.5 lakh crore at the end of his first year in office.

Leading corporate houses such as Ambanis, Adanis, Jindals, Anil Agarwal's Vedanta and Anil Ambani's Adag have seen up to 51 per cent erosion in their market values ever since Modi took office.

A slump in commodity prices globally and risk-off trade in emerging markets were main culprits behind the poor show. Earnings growth, too, took a hit due to delay in key reforms on the government side.

Siddharth Oberoi, founder at Prudent Equity said. "Valuations were bid up very high initially in the hope that major changes would be unleashed by the new government. They were factoring in expected earnings growth before hand"

Four listed companies of Gautam Adani-led Adani group (including Adani Transmission) have a total market capitalisation of Rs 57,150 crore today, down 51 per cent from Rs 1,17,388 crore that three group firms enjoyed on May 26, 2014. Anil Ambani's Adag group saw a 44 per cent plunge in the group's market value to Rs 49,081 crore.