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Indian (NIFTY) Building Industry Analysis

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies64
  • 7D-1.3%
  • 3M3.1%
  • 1Y-0.3%
  • YTD0.6%

Over the last 7 days, the Building industry has dropped 1.3%, driven by a pullback from Supreme Industries of 2.3%. In contrast, Electrosteel Castings has gained 6.9%. As for the longer term, the industry's performance has been flat for the past year. Looking forward, earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

Has the Indian Building Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026₹1.9t₹723.3b₹38.6b22.8x48.7x2.6x
Mon, 23 Feb 2026₹2.0t₹721.9b₹38.5b26.4x51.9x2.8x
Wed, 21 Jan 2026₹1.4t₹612.3b₹25.9b25.4x52.5x2.2x
Fri, 19 Dec 2025₹1.4t₹612.3b₹25.9b26.5x55.2x2.3x
Sun, 16 Nov 2025₹1.5t₹558.4b₹25.9b28.1x57.4x2.7x
Tue, 14 Oct 2025₹1.5t₹551.0b₹24.6b28.7x62x2.8x
Thu, 11 Sep 2025₹1.5t₹548.2b₹23.9b31.5x62.9x2.7x
Sat, 09 Aug 2025₹1.5t₹545.6b₹24.0b29.5x61.5x2.7x
Mon, 07 Jul 2025₹1.5t₹549.3b₹25.9b27.6x59.5x2.8x
Wed, 04 Jun 2025₹1.4t₹549.3b₹25.8b29.2x55.4x2.6x
Fri, 02 May 2025₹1.3t₹536.6b₹34.9b26.8x36.3x2.4x
Sun, 30 Mar 2025₹1.4t₹536.6b₹34.9b24.8x39.1x2.5x
Tue, 25 Feb 2025₹1.4t₹535.7b₹34.8b25.8x38.9x2.5x
Thu, 23 Jan 2025₹1.5t₹526.2b₹36.6b28.4x40.3x2.8x
Sat, 21 Dec 2024₹1.6t₹525.8b₹36.6b32.4x44.3x3.1x
Mon, 18 Nov 2024₹1.6t₹525.5b₹36.5b29x43.1x3x
Wed, 16 Oct 2024₹1.8t₹520.6b₹37.4b30.5x47.5x3.4x
Fri, 13 Sep 2024₹1.8t₹516.9b₹36.9b30.4x47.5x3.4x
Sun, 11 Aug 2024₹1.7t₹513.3b₹36.7b31.9x47.4x3.4x
Tue, 09 Jul 2024₹1.8t₹499.4b₹34.4b34.4x52.9x3.6x
Thu, 06 Jun 2024₹1.6t₹490.9b₹33.8b33.2x47.2x3.3x
Sat, 04 May 2024₹1.6t₹490.6b₹32.3b33.8x49.4x3.3x
Mon, 01 Apr 2024₹1.5t₹482.4b₹33.0b30.4x45.2x3.1x
Wed, 28 Feb 2024₹1.6t₹482.4b₹33.0b32.5x47.8x3.3x
Fri, 26 Jan 2024₹1.5t₹476.8b₹29.6b34.7x49.7x3.1x
Sun, 24 Dec 2023₹1.5t₹475.9b₹29.6b33.3x49.5x3.1x
Tue, 21 Nov 2023₹1.4t₹475.9b₹29.6b32.6x48.7x3x
Thu, 19 Oct 2023₹1.4t₹465.3b₹25.2b38.1x56.6x3.1x
Sat, 16 Sep 2023₹1.4t₹465.3b₹25.2b34.6x54.3x2.9x
Mon, 14 Aug 2023₹1.4t₹465.2b₹25.2b33.3x54.2x2.9x
Wed, 12 Jul 2023₹1.3t₹458.8b₹24.6b32.1x51.6x2.8x
Fri, 09 Jun 2023₹1.3t₹458.9b₹24.6b30.8x52.8x2.8x
Sun, 07 May 2023₹1.1t₹450.1b₹24.2b28.1x45x2.4x
Tue, 04 Apr 2023₹1.0t₹445.7b₹23.0b27x43.6x2.2x
Price to Earnings Ratio

43.6x


Total Market Cap: ₹1.0tTotal Earnings: ₹23.0bTotal Revenue: ₹445.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Building Industry Price to Earnings3Y Average 50.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Building industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 50.4x.
  • The 3-year average PS ratio of 2.9x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Building industry have grown 19% per year over the last three years.
  • Revenues for these companies have grown 18% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Industrials industry?

IN Market-1.72%
Industrials-2.15%
Building-1.31%
Building Products-1.31%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
500128 Electrosteel Castings₹79.916.9%
+₹3.2b		-18.7%PE15.7x
NITCO NITCO₹88.468.7%
+₹2.6b		-25.7%PE63x
531761 Apollo Pipes₹428.6510.8%
+₹1.8b		13.2%PE116.1x
EUROPRATIK Euro Pratik Sales₹228.756.6%
+₹1.4b		n/aPE33.2x
524091 Carysil₹790.501.4%
+₹305.8m		26.5%PE25.1x

Latest News

531761
₹428.65
Apollo Pipes
7D
10.8%
1Y
13.2%

531761: Upcoming Board Meeting Will Expose Fragile Assumptions Behind Stretched Earnings

Analysts have kept the Apollo Pipes price target broadly steady at ₹292, reflecting only minor model tweaks to the discount rate, margin and P/E assumptions rather than any major change in their underlying view. What's in the News Board meeting scheduled for January 29, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter ended December 31, 2025 (company filing).
500067
₹1,675.05
Blue Star
7D
-1.9%
1Y
-21.6%
PRINCEPIPE
₹217.65
Prince Pipes and Fittings
7D
-8.9%
1Y
-11.3%

PRINCEPIPE: Higher Margin Outlook Will Support Future Upside Despite Lower P E Expectations

Analysts have revised their fair value estimate for Prince Pipes and Fittings from about ₹486.50 to ₹367. This reflects updated assumptions around the discount rate, revenue growth, profit margins and future P/E multiples.
526423
₹73.16
Kriti Industries (India)
7D
3.6%
1Y
-24.0%
EUROPRATIK
₹228.75
Euro Pratik Sales
7D
6.6%
1Y
n/a
GREENLAM
₹202.34
Greenlam Industries
7D
-5.2%
1Y
-14.2%

GREENLAM: Board Review Of December Results Will Support Bullish Long Term View

Analysts have kept their price target on Greenlam Industries steady at ₹229.00. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E that balance each other out in their valuation work.
SUPREMEIND
₹3,747.70
Supreme Industries
7D
-2.3%
1Y
9.4%

SUPREMEIND: Lower Future P E Will Pressure Prospective Shareholder Returns

Analysts have lowered their price target on Supreme Industries from about ₹2,953 to roughly ₹2,903, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E that slightly adjust the valuation framework while keeping the overall outlook broadly consistent. What's in the News A board meeting is scheduled on February 17, 2026, at 11:00 Indian Standard Time to consider electing Managing Director M.P. Taparia as Chairman of the Board and the company, which would make him Chairman and Managing Director if approved, along with other business matters (Board Meeting).
NITCO
₹88.46
NITCO
7D
8.7%
1Y
-25.7%
ASTRAL
₹1,619.10
Astral
7D
-0.8%
1Y
25.1%

ASTRAL: Upcoming Board Results Meeting Will Test Fairly Balanced Risk Reward Profile

Astral's analyst price target has inched up to ₹1,708. The small change is linked to slightly higher modeled revenue growth of 16.08%, a marginally stronger profit margin of 11.23%, a lower discount rate of 14.52%, and a modestly adjusted future P/E of 63.51x in recent analyst updates.
500128
₹79.91
Electrosteel Castings
7D
6.9%
1Y
-18.7%

500128: Upcoming Results Meeting Will Highlight Overvaluation Risk In Earnings Assumptions

Analysts have maintained the fair value for Electrosteel Castings at ₹61.00, indicating that only minor adjustments have been made to inputs such as the discount rate, long-term revenue growth, profit margin, and future P/E assumptions, rather than any change in their central view on the stock. What's in the News Board meeting scheduled for February 6, 2026, to consider and approve unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
532443
₹4,646.95
Cera Sanitaryware
7D
-2.1%
1Y
-17.6%

532443: Refreshed P/E Assumptions Will Support Future Upside Potential

Analysts have trimmed their price target for Cera Sanitaryware slightly, with fair value moving from about ₹6,431.88 to roughly ₹6,397.50 as they refreshed their assumptions on discount rate, revenue growth, profit margin, and future P/E. What's in the News A board meeting is scheduled on February 4, 2026, to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
524091
₹790.50
Carysil
7D
1.4%
1Y
26.5%

524091: Upcoming Board Results And Stable Assumptions Will Support Future Upside

Analysts have maintained their fair value estimate for Carysil at ₹1,205.67 per share, while making refinements to inputs such as a slightly lower discount rate and minor adjustments to revenue growth, profit margin, and future P/E expectations to reflect updated assumptions in their models. What's in the News Carysil has scheduled a board meeting for February 4, 2026 to review and approve unaudited standalone financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
KRN
₹886.45
KRN Heat Exchanger and Refrigeration
7D
-1.2%
1Y
1.7%
544656
₹280.05
HRS Aluglaze
7D
5.5%
1Y
n/a
RUSHIL
₹13.64
Rushil Décor
7D
-12.2%
1Y
-35.2%
538546
₹119.10
Bansal Roofing Products
7D
8.5%
1Y
20.7%