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Indian (NIFTY) Building Industry Analysis

UpdatedMar 23, 2026
DataAggregated Company Financials
Companies64
  • 7D-0.7%
  • 3M2.8%
  • 1Y-0.5%
  • YTD2.0%

Last week, the Building industry hasn't moved much but Kajaria Ceramics is up 4.6% in that time. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 27% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Mar 2026₹1.9t₹723.3b₹38.6b23.9x49.3x2.6x
Wed, 18 Feb 2026₹2.0t₹721.6b₹38.4b26.2x52.1x2.8x
Fri, 16 Jan 2026₹1.4t₹612.3b₹25.9b26x54.5x2.3x
Sun, 14 Dec 2025₹1.4t₹611.9b₹25.8b26.2x55x2.3x
Tue, 11 Nov 2025₹1.5t₹556.0b₹25.2b29.3x59.7x2.7x
Thu, 09 Oct 2025₹1.5t₹548.0b₹23.9b27.1x61.9x2.7x
Sat, 06 Sep 2025₹1.5t₹548.2b₹23.9b29.5x63.3x2.8x
Mon, 04 Aug 2025₹1.5t₹549.9b₹26.1b29.3x55.9x2.7x
Wed, 02 Jul 2025₹1.5t₹549.1b₹25.9b29.6x57.9x2.7x
Fri, 30 May 2025₹1.4t₹550.0b₹26.3b26.5x54.5x2.6x
Sun, 27 Apr 2025₹1.3t₹536.6b₹34.9b27.3x36.9x2.4x
Tue, 25 Mar 2025₹1.4t₹536.6b₹34.9b25.7x40.6x2.6x
Thu, 20 Feb 2025₹1.3t₹535.6b₹34.8b26.4x38.4x2.5x
Sat, 18 Jan 2025₹1.5t₹526.2b₹36.6b28.7x41x2.9x
Mon, 16 Dec 2024₹1.7t₹525.8b₹36.6b33.2x46.7x3.2x
Wed, 13 Nov 2024₹1.6t₹526.2b₹36.2b33.4x43.8x3x
Fri, 11 Oct 2024₹1.7t₹517.6b₹37.0b30.2x47x3.4x
Sun, 08 Sep 2024₹1.7t₹515.0b₹36.8b31x46.6x3.3x
Tue, 06 Aug 2024₹1.7t₹505.3b₹35.8b32.4x48.4x3.4x
Thu, 04 Jul 2024₹1.8t₹499.4b₹34.4b33.8x53.2x3.7x
Sat, 01 Jun 2024₹1.6t₹499.4b₹33.8b34.9x47.8x3.2x
Mon, 29 Apr 2024₹1.6t₹483.1b₹32.9b35.3x48.8x3.3x
Wed, 27 Mar 2024₹1.5t₹482.4b₹33.0b30.5x45.2x3.1x
Fri, 23 Feb 2024₹1.5t₹482.4b₹33.0b32.9x46.6x3.2x
Sun, 21 Jan 2024₹1.5t₹476.9b₹29.7b35.2x50x3.1x
Tue, 19 Dec 2023₹1.5t₹475.9b₹29.6b34.5x49.9x3.1x
Thu, 16 Nov 2023₹1.4t₹475.5b₹29.6b33.3x48.7x3x
Sat, 14 Oct 2023₹1.4t₹465.3b₹25.2b37.2x55.3x3x
Mon, 11 Sep 2023₹1.4t₹465.3b₹25.2b35.7x55.2x3x
Wed, 09 Aug 2023₹1.4t₹465.3b₹25.3b34.6x53.9x2.9x
Fri, 07 Jul 2023₹1.3t₹458.8b₹24.6b33.3x52.5x2.8x
Sun, 04 Jun 2023₹1.3t₹459.0b₹24.8b30.1x50.6x2.7x
Tue, 02 May 2023₹1.1t₹445.9b₹23.0b28.3x46.2x2.4x
Thu, 30 Mar 2023₹991.0b₹445.7b₹23.0b25.1x43.2x2.2x
Price to Earnings Ratio

43.2x


Total Market Cap: ₹991.0bTotal 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 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 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-0.17%
Industrials-0.63%
Building-0.74%
Building Products-0.74%
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
500233 Kajaria Ceramics₹952.354.6%
+₹6.7b		7.5%PE37.4x
ASTRAL Astral₹1.63k1.2%
+₹5.4b		26.3%PE87.2x
NITCO NITCO₹81.3825.3%
+₹3.8b		-30.1%PE55.2x
532443 Cera Sanitaryware₹4.75k5.1%
+₹3.0b		-15.3%PE28.8x
KRN KRN Heat Exchanger and Refrigeration₹896.854.8%
+₹2.5b		-2.6%PE82x

Latest News

500067
₹1,707.00
Blue Star
7D
-6.9%
1Y
-20.4%

500067: Upcoming Product Expansion Will Likely Reinforce Persistent Overvaluation Risk

Analysts have made only marginal tweaks to their assumptions for Blue Star, keeping the implied fair value steady at about ₹1,364. Slightly different inputs for discount rate, revenue growth, profit margin and future P/E feed into the refreshed price target narrative.
NITCO
₹81.38
NITCO
7D
25.3%
1Y
-30.1%
500233
₹952.35
Kajaria Ceramics
7D
4.6%
1Y
7.5%

500233: Future Board Refresh Will Support Returns Despite Softer Assumptions

Analysts have trimmed their price target for Kajaria Ceramics to around ₹1,122 from about ₹1,154, citing slightly moderated revenue growth expectations and a lower future P/E assumption, partly offset by a small improvement in projected profit margins and a modestly reduced discount rate. What's in the News Kajaria Ceramics has scheduled a Special or Extraordinary Shareholders Meeting via postal ballot in India on Mar 12, 2026, to seek approval for board changes (company filing).
ASTRAL
₹1,631.80
Astral
7D
1.2%
1Y
26.3%

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.
531761
₹386.85
Apollo Pipes
7D
-5.1%
1Y
6.0%

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).
500128
₹74.73
Electrosteel Castings
7D
4.3%
1Y
-28.2%

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).
531548
₹377.70
Somany Ceramics
7D
4.6%
1Y
-13.9%

531548: Upcoming Results And Senior Management Addition Will Support Bullish Outlook

Analysts have kept their fair value estimate for Somany Ceramics steady at ₹632.0, with only small tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E that help refine rather than shift their overall price target view. What's in the News A board meeting is scheduled for January 28, 2026 at 14:00 Indian Standard Time to consider and approve unaudited standalone financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
532443
₹4,747.75
Cera Sanitaryware
7D
5.1%
1Y
-15.3%

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
₹238.85
Prince Pipes and Fittings
7D
-2.2%
1Y
-7.0%

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.
GREENLAM
₹213.53
Greenlam Industries
7D
1.2%
1Y
-22.2%

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).
SUPREMEIND
₹3,834.40
Supreme Industries
7D
-1.3%
1Y
11.9%

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.
KRN
₹896.85
KRN Heat Exchanger and Refrigeration
7D
4.8%
1Y
-2.6%
EUROPRATIK
₹214.65
Euro Pratik Sales
7D
-10.4%
1Y
n/a
508906
₹325.20
Everest Industries
7D
-11.1%
1Y
-32.0%
526423
₹70.64
Kriti Industries (India)
7D
-10.2%
1Y
-35.7%
SEJALLTD
₹481.75
Sejal Glass
7D
-8.9%
1Y
22.6%