Narrative Update • Jul 02
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Indian (NIFTY) Real Estate Sector Analysis
UpdatedJul 07, 2026
DataAggregated Company Financials
Companies207
- 7D7.3%
- 3M22.0%
- 1Y-9.7%
- YTD-0.3%
Lodha Developers is up 17%, leading the way for the Real Estate industry, which has gained 7.3%. In the same time, National Standard (India) was down 35%. In the past year, the industry is down 9.7%. As for the next few years, earnings are expected to grow by 25% per annum.
Sector Valuation and Performance
Has the Indian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 07 Jul 2026 | ₹10.4t | ₹1.4t | ₹261.5b | 26.7x | 39.9x | 7.5x |
| Thu, 04 Jun 2026 | ₹9.3t | ₹1.4t | ₹264.8b | 26.8x | 35.2x | 6.6x |
| Sat, 02 May 2026 | ₹9.1t | ₹1.3t | ₹232.4b | 26.5x | 39x | 7.2x |
| Mon, 30 Mar 2026 | ₹7.9t | ₹1.2t | ₹218.8b | 23.6x | 36.1x | 6.4x |
| Wed, 25 Feb 2026 | ₹9.2t | ₹1.2t | ₹218.8b | 27.3x | 42x | 7.5x |
| Fri, 23 Jan 2026 | ₹9.2t | ₹1.2t | ₹208.4b | 27x | 44.2x | 7.7x |
| Sun, 21 Dec 2025 | ₹10.0t | ₹1.2t | ₹207.9b | 29.8x | 47.9x | 8.3x |
| Tue, 18 Nov 2025 | ₹10.4t | ₹1.2t | ₹211.6b | 33.7x | 49x | 8.6x |
| Thu, 16 Oct 2025 | ₹10.1t | ₹1.1t | ₹216.2b | 36.7x | 46.6x | 8.9x |
| Sat, 13 Sep 2025 | ₹9.8t | ₹1.1t | ₹214.2b | 37.6x | 45.6x | 8.8x |
| Mon, 11 Aug 2025 | ₹9.2t | ₹1.1t | ₹213.8b | 33x | 43.1x | 8.7x |
| Wed, 09 Jul 2025 | ₹9.9t | ₹988.1b | ₹205.8b | 35.1x | 48.1x | 10x |
| Fri, 06 Jun 2025 | ₹9.7t | ₹991.9b | ₹209.2b | 32.3x | 46.5x | 9.8x |
| Sun, 04 May 2025 | ₹8.8t | ₹1.1t | ₹212.5b | 34.4x | 41.5x | 8.1x |
| Tue, 01 Apr 2025 | ₹8.5t | ₹1.1t | ₹220.1b | 32.6x | 38.7x | 7.9x |
| Thu, 27 Feb 2025 | ₹8.4t | ₹1.1t | ₹220.1b | 32.2x | 38.1x | 7.8x |
| Sat, 25 Jan 2025 | ₹8.8t | ₹1.0t | ₹218.7b | 34.4x | 40.5x | 8.5x |
| Mon, 23 Dec 2024 | ₹10.3t | ₹1.0t | ₹214.5b | 35.2x | 48.2x | 10.1x |
| Wed, 20 Nov 2024 | ₹9.4t | ₹1.0t | ₹212.5b | 35x | 44.4x | 9.2x |
| Fri, 18 Oct 2024 | ₹10.2t | ₹990.9b | ₹208.0b | 31.6x | 49x | 10.3x |
| Sun, 15 Sep 2024 | ₹10.2t | ₹971.1b | ₹203.5b | 32.2x | 49.9x | 10.5x |
| Tue, 13 Aug 2024 | ₹9.9t | ₹959.2b | ₹193.7b | 32.4x | 51x | 10.3x |
| Thu, 11 Jul 2024 | ₹10.3t | ₹832.5b | ₹165.9b | 34.2x | 61.8x | 12.3x |
| Sat, 08 Jun 2024 | ₹9.7t | ₹832.9b | ₹163.4b | 28.9x | 59.4x | 11.6x |
| Mon, 06 May 2024 | ₹8.8t | ₹754.1b | ₹137.6b | 34x | 64x | 11.7x |
| Wed, 03 Apr 2024 | ₹8.7t | ₹749.1b | ₹132.4b | 32x | 65.6x | 11.6x |
| Fri, 01 Mar 2024 | ₹8.4t | ₹749.9b | ₹132.6b | 32x | 63.4x | 11.2x |
| Sun, 28 Jan 2024 | ₹7.7t | ₹725.8b | ₹115.5b | 36.3x | 66.7x | 10.6x |
| Tue, 26 Dec 2023 | ₹7.1t | ₹733.1b | ₹116.5b | 29.2x | 60.6x | 9.6x |
| Thu, 23 Nov 2023 | ₹6.5t | ₹729.1b | ₹116.7b | 25.7x | 55.7x | 8.9x |
| Sat, 21 Oct 2023 | ₹5.7t | ₹671.0b | ₹89.4b | 33.1x | 63.4x | 8.4x |
| Mon, 18 Sep 2023 | ₹5.6t | ₹671.2b | ₹88.7b | 29.8x | 62.6x | 8.3x |
| Wed, 16 Aug 2023 | ₹5.0t | ₹673.2b | ₹66.4b | 27.4x | 76x | 7.5x |
| Fri, 14 Jul 2023 | ₹5.2t | ₹660.0b | ₹85.0b | 30.3x | 61.2x | 7.9x |
Price to Earnings Ratio
61.2x
Current Industry PE
- Investors are pessimistic on the Indian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 39.9x which is lower than its 3-year average PE of 50.8x.
- The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 7.5x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 45% per year over the last three years.
- Revenues for these companies have grown 28% 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 Real Estate sector?
| IN Market | 1.76% | |
| Real Estate | 7.33% | |
| Real Estate | 8.84% | |
| Office REITs | 2.32% | |
| Industrial REITs | 1.22% | |
| Retail REITs | 0.69% | |
| REITS | 0% | 0 |
Industry PE
- Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 53.8x.
- Analysts are expecting annual earnings growth of 27.6%, which is higher than its past year's earnings growth of 23.8% per year.
- Investors are most pessimistic about the Industrial REITs industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 28% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Retail REITs industry is expected to see its earnings grow by 24% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| LODHA Lodha Developers | ₹1.10k | 16.6% +₹156.2b | -20.4% | PE31.9x | |
| DLF DLF | ₹673.30 | 9.5% +₹144.9b | -19.1% | PE37.8x | |
| OBEROIRLTY Oberoi Realty | ₹1.95k | 11.4% +₹72.5b | 5.9% | PE28.3x | |
| PRESTIGE Prestige Estates Projects | ₹1.70k | 10.7% +₹70.7b | 4.5% | PE61.4x | |
| 503100 Phoenix Mills | ₹2.11k | 9.9% +₹68.2b | 36.1% | PE61.7x |
