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Indian (NIFTY) Building Industry Analysis

UpdatedDec 15, 2025
DataAggregated Company Financials
Companies60
  • 7D0.1%
  • 3M-9.3%
  • 1Y-21.7%
  • YTD-19.5%

The Building is pretty flat in the last 7 days, but Blue Star has stood out, gaining 3.6%. As for the longer term, the industry has declined 22% in the last year. As for the next few years, earnings are expected to grow by 26% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Dec 2025₹1.4t₹611.9b₹25.8b26.2x55x2.3x
Wed, 12 Nov 2025₹1.5t₹556.2b₹25.2b28.5x59.3x2.7x
Fri, 10 Oct 2025₹1.5t₹548.0b₹23.9b28.3x61.9x2.7x
Sun, 07 Sep 2025₹1.5t₹548.2b₹23.9b29.5x63.3x2.8x
Tue, 05 Aug 2025₹1.5t₹549.9b₹26.1b29.8x56.8x2.7x
Thu, 03 Jul 2025₹1.5t₹549.0b₹25.9b26.6x58.9x2.8x
Sat, 31 May 2025₹1.4t₹550.6b₹26.6b26.7x53.7x2.6x
Mon, 28 Apr 2025₹1.3t₹536.6b₹34.9b27.3x36.9x2.4x
Wed, 26 Mar 2025₹1.4t₹536.6b₹34.9b25.5x39.9x2.6x
Fri, 21 Feb 2025₹1.4t₹535.7b₹34.8b26.5x39.4x2.6x
Sun, 19 Jan 2025₹1.5t₹526.2b₹36.6b28.7x41x2.9x
Tue, 17 Dec 2024₹1.7t₹525.8b₹36.6b33.7x47.1x3.3x
Thu, 14 Nov 2024₹1.6t₹526.5b₹36.2b30.1x43x3x
Sat, 12 Oct 2024₹1.8t₹520.6b₹37.4b30.9x47.4x3.4x
Mon, 09 Sep 2024₹1.7t₹515.0b₹36.8b31x46.6x3.3x
Wed, 07 Aug 2024₹1.7t₹505.3b₹35.8b32.5x48x3.4x
Fri, 05 Jul 2024₹1.8t₹499.4b₹34.4b34.4x53.2x3.7x
Sun, 02 Jun 2024₹1.6t₹499.4b₹33.8b34.9x47.8x3.2x
Tue, 30 Apr 2024₹1.6t₹483.1b₹32.9b34.5x49.1x3.3x
Thu, 28 Mar 2024₹1.5t₹482.4b₹33.0b30.8x45.5x3.1x
Sat, 24 Feb 2024₹1.6t₹482.4b₹33.0b33.2x47.7x3.3x
Mon, 22 Jan 2024₹1.5t₹476.9b₹29.7b35.1x50x3.1x
Wed, 20 Dec 2023₹1.5t₹475.9b₹29.6b34.4x49.7x3.1x
Fri, 17 Nov 2023₹1.4t₹475.9b₹29.6b32.5x48.7x3x
Sun, 15 Oct 2023₹1.4t₹465.3b₹25.2b37.2x55.3x3x
Tue, 12 Sep 2023₹1.4t₹465.3b₹25.2b35.8x55.1x3x
Thu, 10 Aug 2023₹1.4t₹465.1b₹25.3b34.5x54.1x2.9x
Sat, 08 Jul 2023₹1.3t₹458.8b₹24.6b32.5x51.6x2.8x
Mon, 05 Jun 2023₹1.3t₹459.0b₹24.6b30.2x51x2.7x
Wed, 03 May 2023₹1.1t₹445.9b₹23.0b28x46.2x2.4x
Fri, 31 Mar 2023₹991.0b₹445.7b₹23.0b25.1x43.2x2.2x
Sun, 26 Feb 2023₹1.0t₹445.7b₹23.0b30.7x44.7x2.3x
Tue, 24 Jan 2023₹1.0t₹431.9b₹24.7b23.6x42.1x2.4x
Thu, 22 Dec 2022₹1.0t₹431.2b₹24.7b24.6x41.5x2.4x
Price to Earnings Ratio

41.5x


Total Market Cap: ₹1.0tTotal Earnings: ₹24.7bTotal Revenue: ₹431.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Building Industry Price to Earnings3Y Average 49.5x202320242025
Current Industry PE
  • Investors are optimistic on the Indian Building industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 55.0x which is higher than its 3-year average PE of 49.5x.
  • The 3-year average PS ratio of 2.9x is higher than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Building industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 12% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

IN Market-0.34%
Industrials-0.59%
Building0.15%
Building Products0.15%
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
500067 Blue Star₹1.80k4.4%
+₹15.7b		-16.7%PE67.7x
GREENLAM Greenlam Industries₹251.954.5%
+₹2.8b		-14.3%PE202.3x
500128 Electrosteel Castings₹71.456.6%
+₹2.7b		-54.1%PE8.9x
NITCO NITCO₹90.9913.4%
+₹2.5b		-35.2%PS4.6x
500233 Kajaria Ceramics₹1.05k1.0%
+₹1.7b		-8.9%PE41.8x

Latest News

ASTRAL
₹1,416.40
Astral
7D
-1.2%
1Y
-23.5%

Returns On Capital At Astral (NSE:ASTRAL) Have Stalled

Dec 15
Returns On Capital At Astral (NSE:ASTRAL) Have Stalled
500233
₹1,053.00
Kajaria Ceramics
7D
1.0%
1Y
-8.9%

500233: Future Board Changes And Rising Dividends Will Support Shareholder Returns

Analysts have modestly raised their price target on Kajaria Ceramics to ₹1,346.15. This reflects slightly higher discount rate and valuation assumptions, while revenue growth and profit margin forecasts remain broadly unchanged.
GREENLAM
₹251.95
Greenlam Industries
7D
4.5%
1Y
-14.3%

GREENLAM: Future Earnings Multiple And Margins Will Drive Balanced Outlook

Analysts have raised their fair value estimate for Greenlam Industries from ₹199 to ₹235 per share, reflecting slightly higher margin expectations and a richer future earnings multiple, despite modestly lower projected revenue growth and a marginally higher discount rate. What's in the News Board meeting scheduled on November 8, 2025, at 15:30 IST to review and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).
500067
₹1,797.35
Blue Star
7D
4.4%
1Y
-16.7%

500067: Upcoming Results Are Expected To Confirm Improving Profitability Outlook

Analysts have trimmed their price target on Blue Star to ₹2,178 from ₹2,419, as a modestly higher discount rate and lower future valuation multiples more than offset slightly stronger expectations for revenue growth and profit margins. What's in the News A board meeting is scheduled for November 5, 2025, to consider and approve the unaudited standalone and consolidated financial results for the second quarter and half year ending September 30, 2025, in compliance with Regulation 33(3) of the Listing Regulations (Key Developments).
NITCO
₹90.99
NITCO
7D
13.4%
1Y
-35.2%

Does NITCO (NSE:NITCO) Have A Healthy Balance Sheet?

Dec 13
Does NITCO (NSE:NITCO) Have A Healthy Balance Sheet?
PRINCEPIPE
₹252.25
Prince Pipes and Fittings
7D
-2.7%
1Y
-40.4%

PRINCEPIPE: Higher Required Return Will Shape Future Upside Potential

Analysts have revised their price target for Prince Pipes and Fittings down from ₹608 to ₹502, citing a higher required discount rate that more than offsets improved expectations for revenue growth, profit margins, and a lower future price to earnings multiple. What's in the News A board meeting is scheduled on November 7, 2025, to consider and approve unaudited financial results for the quarter and half year ended September 30, 2025, along with the auditors' limited review report (Key Developments) The company has received a Show Cause cum Demand Notice from the Rajasthan GST Authority for alleged ineligible input tax credit claims for FY 2019 to 2020, with a total demand of approximately INR 1.59 crore including tax, interest, and penalties (Key Developments) Valuation Changes Fair Value: reduced significantly from ₹608 to about ₹502 per share, implying lower upside versus previous estimates.
500128
₹71.45
Electrosteel Castings
7D
6.6%
1Y
-54.1%

500128: Upcoming Board Meeting Will Support Positive Medium Term Outlook

Analysts have modestly raised their price target on Electrosteel Castings to ₹81.0 from ₹81, citing a slightly higher assumed discount rate and a marginally richer future earnings multiple. Together, these factors leave their fair value estimate largely unchanged.
524091
₹927.40
Carysil
7D
-1.0%
1Y
21.9%

524091: Capacity Expansion And Dividend Increase Will Drive Upward Momentum

Analysts have raised their price target for Carysil from ₹1,130.33 to ₹1,165.00, citing improved forecasts for revenue growth and profit margins that support a higher fair value estimate. What's in the News A board meeting is scheduled for November 10, 2025 to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (Board Meeting).
EUROBOND
₹180.79
Euro Panel Products
7D
-3.0%
1Y
-4.8%

Here's Why Euro Panel Products (NSE:EUROBOND) Can Manage Its Debt Responsibly

Nov 25
Here's Why Euro Panel Products (NSE:EUROBOND) Can Manage Its Debt Responsibly
KRN
₹775.25
KRN Heat Exchanger and Refrigeration
7D
2.3%
1Y
-1.5%
EUROPRATIK
₹301.60
Euro Pratik Sales
7D
-13.1%
1Y
n/a
526951
₹2,224.35
Stylam Industries
7D
3.5%
1Y
-11.5%
ASIANTILES
₹63.54
Asian Granito India
7D
4.6%
1Y
-13.8%
530365
₹269.00
Orient Bell
7D
-3.0%
1Y
-17.0%
532443
₹5,260.65
Cera Sanitaryware
7D
-1.4%
1Y
-31.8%
544332
₹307.60
Fabtech Technologies Cleanrooms
7D
-3.3%
1Y
n/a