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Indian (NIFTY) Building Industry Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies63
  • 7D-3.5%
  • 3M4.0%
  • 1Y5.1%
  • YTD2.7%

Over the last 7 days, the Building industry has dropped 3.5%, driven by pullbacks in Blue Star and Astral of 5.9% and 4.6%, respectively. In contrast, Electrosteel Castings has gained 13%. Over the past 12 months, the industry was up 5.1%. 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
Sun, 15 Mar 2026₹1.9t₹721.9b₹38.5b24.4x49.7x2.7x
Tue, 10 Feb 2026₹1.9t₹720.7b₹31.8b23.7x60.4x2.7x
Thu, 08 Jan 2026₹1.5t₹612.3b₹25.9b27.2x56x2.4x
Sat, 06 Dec 2025₹1.4t₹611.9b₹25.8b25.9x54.9x2.3x
Mon, 03 Nov 2025₹1.5t₹550.9b₹25.0b29.2x61.3x2.8x
Wed, 01 Oct 2025₹1.5t₹548.0b₹23.9b29.7x60.7x2.6x
Fri, 29 Aug 2025₹1.5t₹548.2b₹23.9b30.4x62.1x2.7x
Sun, 27 Jul 2025₹1.5t₹549.4b₹26.1b27.8x57.4x2.7x
Tue, 24 Jun 2025₹1.5t₹548.9b₹25.8b28.7x56.7x2.7x
Thu, 22 May 2025₹1.4t₹546.3b₹26.5b27.4x52.4x2.5x
Sat, 19 Apr 2025₹1.3t₹536.6b₹34.9b28.1x38.5x2.5x
Mon, 17 Mar 2025₹1.3t₹536.6b₹34.9b24.5x37.9x2.5x
Wed, 12 Feb 2025₹1.4t₹536.0b₹35.7b28.2x39.6x2.6x
Fri, 10 Jan 2025₹1.5t₹525.8b₹36.6b30.6x42.4x2.9x
Sun, 08 Dec 2024₹1.7t₹525.8b₹36.6b33.1x47.2x3.3x
Tue, 05 Nov 2024₹1.6t₹522.0b₹36.8b31.1x44x3.1x
Thu, 03 Oct 2024₹1.8t₹517.5b₹37.0b30x48.8x3.5x
Sat, 31 Aug 2024₹1.7t₹514.7b₹36.8b31.6x46.4x3.3x
Mon, 29 Jul 2024₹1.8t₹500.6b₹34.2b32.2x52.6x3.6x
Wed, 26 Jun 2024₹1.8t₹499.4b₹34.4b32.1x52.9x3.6x
Fri, 24 May 2024₹1.6t₹498.9b₹33.7b35.6x48.6x3.3x
Sun, 21 Apr 2024₹1.6t₹482.8b₹33.0b33.7x47.2x3.2x
Tue, 19 Mar 2024₹1.5t₹482.4b₹33.0b31.3x44.7x3.1x
Thu, 15 Feb 2024₹1.5t₹481.9b₹33.0b31.7x45.9x3.1x
Sat, 13 Jan 2024₹1.5t₹476.2b₹29.6b35x49.2x3.1x
Mon, 11 Dec 2023₹1.5t₹475.9b₹29.6b34.3x49.9x3.1x
Wed, 08 Nov 2023₹1.4t₹472.7b₹26.7b37.9x52.7x3x
Fri, 06 Oct 2023₹1.4t₹465.3b₹25.2b35.8x54.7x3x
Sun, 03 Sep 2023₹1.4t₹465.3b₹25.2b34.9x55x3x
Tue, 01 Aug 2023₹1.4t₹461.9b₹25.0b33.4x54.4x2.9x
Thu, 29 Jun 2023₹1.3t₹458.8b₹24.6b33.2x53.7x2.9x
Sat, 27 May 2023₹1.2t₹457.8b₹24.5b29.9x49.7x2.7x
Mon, 24 Apr 2023₹1.0t₹445.9b₹23.0b31x45.6x2.3x
Wed, 22 Mar 2023₹1.0t₹445.7b₹23.0b30x44x2.3x
Price to Earnings Ratio

44x


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 50.3x202420252026
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 50.3x.
  • The industry is trading close to its 3-year average PS ratio of 2.9x.
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 17% 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-4.42%
Industrials-5.55%
Building-3.51%
Building Products-3.51%
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₹71.6713.2%
+₹5.1b		-25.2%PE14.1x
531761 Apollo Pipes₹407.4516.8%
+₹2.6b		23.6%PE110.3x
PRINCEPIPE Prince Pipes and Fittings₹244.151.9%
+₹492.0m		-1.8%PE62.3x
SEJALLTD Sejal Glass₹528.654.7%
+₹270.9m		46.6%PE28.4x
530365 Orient Bell₹270.453.4%
+₹131.1m		10.7%PE44.3x

Latest News

531761
₹407.45
Apollo Pipes
7D
16.8%
1Y
23.6%

531761: Upcoming Results Meeting Will Reveal Fragile Assumptions Behind Stretched Earnings

Analysts have maintained their fair value estimate for Apollo Pipes at ₹292.0 per share, with only small tweaks to assumptions around discount rate, revenue growth, profit margin, and future P/E, which together support this steady price target view. What's in the News The board of Apollo Pipes has scheduled a meeting for Jan 29, 2026, to consider and approve the unaudited standalone financial results for the quarter ended Dec 31, 2025 (Key Developments).
ARCIIL
₹51.55
ARC Insulation & Insulators
7D
12.8%
1Y
n/a
500128
₹71.67
Electrosteel Castings
7D
13.2%
1Y
-25.2%

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
₹4,517.65
Cera Sanitaryware
7D
-4.8%
1Y
-13.1%

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).
PRINCEPIPE
₹244.15
Prince Pipes and Fittings
7D
1.9%
1Y
-1.8%

PRINCEPIPE: Upcoming Board Review Will Support Bullish Earnings Power Thesis

Analysts have slightly trimmed their fair value estimate for Prince Pipes and Fittings to about ₹308 from about ₹311, reflecting small updates to assumptions on the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News A board meeting is scheduled for February 10, 2026, to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2025.
524091
₹786.95
Carysil
7D
-8.8%
1Y
26.9%

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).
GREENLAM
₹211.06
Greenlam Industries
7D
-9.8%
1Y
-9.7%

GREENLAM: Fair View Will Depend On Tweaked Assumptions And Forthcoming Results

Analysts have kept their price target for Greenlam Industries steady at ₹229.0. The updated view reflects slightly different assumptions for discount rate, revenue growth, profit margin and future P/E rather than a change in their headline valuation. What's in the News A board meeting is scheduled for January 29, 2026 to review and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
505685
₹21.72
Taparia Tools
7D
10.2%
1Y
n/a
SUPREMEIND
₹3,886.50
Supreme Industries
7D
-1.6%
1Y
16.2%

SUPREMEIND: Higher Discount Rate And Governance Shift Will Pressure Future Returns

Analysts have reduced their price target on Supreme Industries from ₹3,103 to ₹2,953, citing updated assumptions around the discount rate, revenue growth, margins, and future P/E multiples. What's in the News A board meeting is scheduled on Feb 17, 2026 to consider electing Managing Director M.
500067
₹1,832.60
Blue Star
7D
-5.9%
1Y
-9.6%

500067: Upcoming Board Meeting Will Likely Confirm Persistent Overvaluation Risk

Analysts have lifted their price target on Blue Star to ₹1,364, citing slightly lower required returns, as well as modestly higher assumptions for revenue growth, profit margins and future P/E. What's in the News A board meeting is scheduled for January 29, 2026 to consider and approve unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025, along with other business matters (company filing).
500233
₹910.10
Kajaria Ceramics
7D
-2.7%
1Y
5.8%

500233: Leadership Transition And Margin Outlook Will Support A Constructive Share Price View

Analysts have trimmed their price target for Kajaria Ceramics from ₹1,600 to about ₹1,484, citing updated assumptions that balance lower projected revenue growth with slightly improved profit margins and a reduced forward P/E multiple. What's in the News Kajaria Ceramics has scheduled a Special or Extraordinary Shareholders Meeting on March 12, 2026, to be conducted via postal ballot in India (company filing).
ASTRAL
₹1,611.80
Astral
7D
-4.6%
1Y
30.2%

ASTRAL: Upcoming Results Meeting Will Clarify Fairly Balanced Risk Reward Profile

The analyst fair value estimate for Astral has inched up from ₹1,695.22 to ₹1,700.78, with analysts pointing to small refinements in discount rate, revenue growth, profit margin, and future P/E assumptions rather than any major shift in their outlook. What's in the News Board meeting scheduled on Feb 05, 2026 at 15:00 IST to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
KRN
₹856.00
KRN Heat Exchanger and Refrigeration
7D
-7.6%
1Y
-7.9%
SEJALLTD
₹528.65
Sejal Glass
7D
4.7%
1Y
46.6%
544656
₹255.05
HRS Aluglaze
7D
2.0%
1Y
n/a
530365
₹270.45
Orient Bell
7D
3.4%
1Y
10.7%