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Indian (NIFTY) Real Estate Sector Analysis

UpdatedJun 16, 2026
DataAggregated Company Financials
Companies210
  • 7D4.4%
  • 3M9.9%
  • 1Y-20.2%
  • YTD-8.4%

In the last week, the Real Estate industry is up 4.4%, with DLF up 9.4%. In contrast, the industry has lost 20% in the last 12 months. Looking forward, earnings are forecast to grow by 26% annually.

Sector Valuation and Performance

Has the Indian Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Jun 2026₹9.6t₹1.4t₹262.7b26.4x36.5x6.9x
Thu, 14 May 2026₹9.0t₹1.3t₹243.9b27x36.7x6.7x
Sat, 11 Apr 2026₹8.8t₹1.2t₹221.0b26.1x39.6x7x
Mon, 09 Mar 2026₹8.6t₹1.2t₹218.8b25.8x39.5x7x
Wed, 04 Feb 2026₹9.4t₹1.2t₹215.4b26.9x43.5x7.6x
Fri, 02 Jan 2026₹10.0t₹1.2t₹207.9b29.5x48.3x8.4x
Sun, 30 Nov 2025₹10.0t₹1.2t₹210.4b29.9x47.6x8.4x
Tue, 28 Oct 2025₹10.4t₹1.1t₹218.5b35.6x47.5x9x
Thu, 25 Sep 2025₹9.9t₹1.1t₹214.2b38x46.1x8.8x
Sat, 23 Aug 2025₹9.4t₹1.1t₹212.8b35.5x44.4x8.8x
Mon, 21 Jul 2025₹10.2t₹1.0t₹208.0b35.4x49x10x
Wed, 18 Jun 2025₹9.9t₹985.5b₹208.3b34.9x47.7x10.1x
Fri, 16 May 2025₹8.9t₹1.1t₹211.4b34.9x42.3x8.3x
Sun, 13 Apr 2025₹8.1t₹1.1t₹220.1b33.8x36.8x7.5x
Tue, 11 Mar 2025₹8.1t₹1.1t₹220.2b33.1x36.8x7.5x
Thu, 06 Feb 2025₹9.5t₹1.1t₹229.0b31.5x41.4x8.9x
Sat, 04 Jan 2025₹10.4t₹1.0t₹214.4b36.5x48.3x10.1x
Mon, 02 Dec 2024₹10.0t₹1.0t₹214.5b33.6x46.5x9.7x
Wed, 30 Oct 2024₹9.8t₹1.0t₹234.2b30.1x41.9x9.7x
Fri, 27 Sep 2024₹10.8t₹978.2b₹205.1b33.3x52.6x11x
Sun, 25 Aug 2024₹9.8t₹971.3b₹203.5b30.3x48.4x10.1x
Tue, 23 Jul 2024₹10.0t₹836.6b₹168.2b31.8x59.6x12x
Thu, 20 Jun 2024₹10.1t₹829.2b₹165.5b32x61x12.2x
Sat, 18 May 2024₹9.0t₹782.4b₹146.3b31.4x61.4x11.5x
Mon, 15 Apr 2024₹8.7t₹749.0b₹132.3b32.6x65.9x11.6x
Wed, 13 Mar 2024₹8.1t₹750.1b₹132.5b30.3x61.3x10.8x
Fri, 09 Feb 2024₹8.2t₹742.3b₹129.1b41.1x63.1x11x
Sun, 07 Jan 2024₹7.7t₹732.8b₹116.5b31.4x66.2x10.5x
Tue, 05 Dec 2023₹6.8t₹729.0b₹116.6b29.5x58.5x9.4x
Thu, 02 Nov 2023₹5.8t₹676.7b₹104.2b29.9x55.3x8.5x
Sat, 30 Sep 2023₹5.5t₹672.5b₹88.7b30.1x61.9x8.2x
Mon, 28 Aug 2023₹5.1t₹675.1b₹68.5b29.4x74.6x7.6x
Wed, 26 Jul 2023₹5.2t₹662.4b₹77.7b29.6x67.5x7.9x
Fri, 23 Jun 2023₹5.0t₹659.5b₹85.0b29.8x59.2x7.6x
Price to Earnings Ratio

59.2x


Total Market Cap: ₹5.0tTotal Earnings: ₹85.0bTotal Revenue: ₹659.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 51.3x202420252026
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 36.5x which is lower than its 3-year average PE of 51.3x.
  • The 3-year average PS ratio of 9.2x is higher than the industry's current PS ratio of 6.9x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 46% 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 Market2.77%
Real Estate4.42%
Real Estate5.70%
Industrial REITs0.52%
Office REITs0.42%
REITS0%0
Retail REITs-1.21%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 53.6x.
    • Analysts are expecting annual earnings growth of 31.5%, which is lower than the prior year's growth of 36.9% 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 31% 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 23% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
DLF DLF₹629.309.4%
+₹134.0b		-26.1%PE35.3x
PRESTIGE Prestige Estates Projects₹1.52k12.3%
+₹72.0b		-10.2%PE54.8x
LODHA Lodha Developers₹937.955.6%
+₹50.0b		-35.1%PE27.3x
503100 Phoenix Mills₹1.87k6.5%
+₹40.9b		15.9%PE54.6x
GODREJPROP Godrej Properties₹1.79k6.5%
+₹33.2b		-26.9%PE29.2x

Latest News

LODHA
₹937.95
Lodha Developers
7D
5.6%
1Y
-35.1%
Narrative Update • Jun 15

LODHA: Upcoming Governance Decisions Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for Lodha Developers to ₹1,191.56 from ₹1,238.06, citing a mix of updated assumptions around the discount rate, revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for April 24, 2026, to consider and approve audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2026, and to consider a potential dividend recommendation on equity shares for that period.
GODREJPROP
₹1,794.50
Godrej Properties
7D
6.5%
1Y
-26.9%
Narrative Update • Jun 11

GODREJPROP: New Land Bank Will Test Premium Positioning And Earnings Multiple

Narrative Update on Godrej Properties The analyst fair value estimate for Godrej Properties has moved from about ₹1,517.88 to ₹1,550.00. Analysts attribute the revised price target to updated assumptions on discount rate, revenue growth, profit margins and future P/E.
SIGNATURE
₹797.05
Signatureglobal (India)
7D
-1.2%
1Y
-37.5%
Narrative Update • Jun 06

SIGNATURE: Premium Gurugram Tie Up Will Support Future Earnings

Analysts have kept their ₹1,132.60 fair value target for Signatureglobal (India) unchanged, as a slightly higher discount rate and lower revenue growth and profit margin inputs are balanced by a higher assumed future P/E multiple. What's in the News Client announcement: Signatureglobal (India) plans a premium residential project in Sector 71, Gurugram, in collaboration with Italian lifestyle brand Tonino Lamborghini.
503100
₹1,867.80
Phoenix Mills
7D
6.5%
1Y
15.9%
Narrative Update • Jun 05

503100: Upcoming Board Meeting And Revised Assumptions Will Support Future Confidence

Phoenix Mills' analyst fair value estimate has shifted from ₹1,945.37 to ₹2,009.70, with analysts linking the change to updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Phoenix Mills has scheduled a board meeting on Apr 27, 2026, at 16:56 Indian Standard Time.
500040
₹1,315.40
Aditya Birla Real Estate
7D
7.9%
1Y
-46.9%
Narrative Update • Jun 04

500040: Higher Dividend Payout Will Support Stronger Prospective Shareholder Returns

Aditya Birla Real Estate’s analyst price target remains steady at ₹1,896.27. Analysts point to largely unchanged assumptions around long term revenue growth, profit margin and P/E expectations as the basis for keeping their valuation view intact.
OBEROIRLTY
₹1,704.80
Oberoi Realty
7D
4.4%
1Y
-10.8%
Narrative Update • Jun 03

OBEROIRLTY: Lower Discount Rate And Debenture Moves Will Support Future Returns

Analysts have raised their fair value estimate for Oberoi Realty by about ₹67 per share, reflecting updated assumptions for the discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research activity around real estate and related asset plays suggests a mix of optimism and caution that is useful context when thinking about Oberoi Realty's updated fair value estimate.
532929
₹539.96
Brigade Enterprises
7D
10.8%
1Y
-38.8%
Narrative Update • Jun 02

532929: Township Expansion And Bonus Hopes Will Drive Re Rating Potential

Analysts have raised their price target on Brigade Enterprises from about ₹698.54 to roughly ₹734.53, citing updated assumptions that reflect revised views on revenue growth, profit margins and future P/E levels. What's in the News Board meeting scheduled for May 06, 2026, to consider audited Q4 and full-year FY26 results, a potential bonus issue of equity shares, and a final dividend recommendation of ₹2 per equity share, subject to shareholder approval in the 31st AGM.
PRESTIGE
₹1,521.10
Prestige Estates Projects
7D
12.3%
1Y
-10.2%
Narrative Update • Jun 02

PRESTIGE: Mumbai And Hyderabad Projects Will Drive Future Upside Potential

Analysts have trimmed their fair value estimate for Prestige Estates Projects from about ₹1,908 to roughly ₹1,806, citing updated assumptions that factor in a slightly lower discount rate, more moderate revenue growth expectations, a reduced profit margin outlook, and a modestly lower future P/E multiple. What's in the News Board meeting scheduled for May 21, 2026, to review and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026; consider a final dividend; potential issuance of non convertible debentures; and the redesignation of Ms. Uzma Irfan as Whole Time Director.
DLF
₹629.30
DLF
7D
9.4%
1Y
-26.1%
Narrative Update • Jun 01

DLF: Upcoming Dividend Decision Will Support Bullish Undervaluation Thesis

Analysts have nudged their fair value estimate for DLF slightly lower, from about ₹822.48 to ₹821.91. This reflects updated assumptions on discount rate, revenue growth, profit margin and future P/E that are broadly consistent with prior expectations.
PVP
₹30.38
PVP Ventures
7D
-7.4%
1Y
25.8%
WEWORK
₹639.45
WeWork India Management
7D
-1.2%
1Y
n/a
Analysis Article • May 29

WeWork India Management's (NSE:WEWORK) Soft Earnings Don't Show The Whole Picture

WeWork India Management Limited's ( NSE:WEWORK ) recent soft profit numbers didn't appear to worry shareholders, as the...
BAGMANE
₹102.84
Bagmane Prime Office REIT
7D
-0.5%
1Y
n/a
512038
₹349.10
TCC Concept
7D
-6.3%
1Y
-41.8%
539042
₹370.15
AGI Infra
7D
-1.1%
1Y
110.9%
NXST
₹155.03
Nexus Select Trust
7D
-0.5%
1Y
12.7%
KRT
₹116.07
Knowledge Realty Trust
7D
-0.8%
1Y
n/a