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Indian (NIFTY) Real Estate Sector Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies202
  • 7D-4.8%
  • 3M-7.6%
  • 1Y-8.5%
  • YTD-2.8%

Over the last 7 days, the Real Estate industry has dropped 4.8%, driven by a pullback from DLF of 7.4%. In contrast, National Standard (India) has gained 25%. The industry has fallen 8.5% in the last year. Earnings are forecast to grow by 31% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026₹9.8t₹1.2t₹207.9b28.6x47x8.2x
Sat, 13 Dec 2025₹10.0t₹1.2t₹207.9b29.3x48.3x8.4x
Mon, 10 Nov 2025₹10.4t₹1.2t₹208.5b37x50x8.8x
Wed, 08 Oct 2025₹9.9t₹1.1t₹214.8b38.6x46x8.8x
Fri, 05 Sep 2025₹9.7t₹1.1t₹214.2b35.7x45.5x8.7x
Sun, 03 Aug 2025₹9.3t₹1.0t₹209.8b34.9x44.4x9x
Tue, 01 Jul 2025₹9.8t₹985.2b₹206.0b35.9x47.7x10x
Thu, 29 May 2025₹9.3t₹990.4b₹200.0b36.1x46.7x9.4x
Sat, 26 Apr 2025₹8.7t₹1.1t₹223.0b33.6x38.9x8x
Mon, 24 Mar 2025₹8.6t₹1.1t₹220.1b33.6x39.3x8x
Wed, 19 Feb 2025₹8.4t₹1.1t₹220.3b32.3x38.2x7.8x
Fri, 17 Jan 2025₹9.4t₹1.0t₹214.9b36.1x43.6x9.1x
Sun, 15 Dec 2024₹10.5t₹1.0t₹214.5b35x49.2x10.2x
Tue, 12 Nov 2024₹9.7t₹1.0t₹227.3b32.7x42.5x9.4x
Thu, 10 Oct 2024₹10.2t₹978.4b₹205.0b31.2x49.6x10.4x
Sat, 07 Sep 2024₹9.9t₹971.3b₹203.5b32.4x48.5x10.2x
Mon, 05 Aug 2024₹9.8t₹858.7b₹176.7b33.6x55.3x11.4x
Wed, 03 Jul 2024₹10.1t₹832.2b₹165.8b33.6x61.1x12.2x
Fri, 31 May 2024₹9.1t₹855.8b₹151.2b30.7x60.5x10.7x
Sun, 28 Apr 2024₹8.9t₹757.5b₹135.8b32.2x65.4x11.7x
Tue, 26 Mar 2024₹8.1t₹750.1b₹132.5b31.8x61.4x10.9x
Thu, 22 Feb 2024₹8.3t₹747.5b₹132.5b32.2x62.9x11.2x
Sat, 20 Jan 2024₹8.0t₹732.7b₹117.4b36.2x68.3x10.9x
Mon, 18 Dec 2023₹7.1t₹730.1b₹116.2b28.9x60.8x9.7x
Wed, 15 Nov 2023₹6.3t₹722.4b₹114.9b26.7x54.5x8.7x
Fri, 13 Oct 2023₹5.7t₹672.7b₹88.7b33.3x64.7x8.5x
Sun, 10 Sep 2023₹5.6t₹670.4b₹88.3b29.8x63x8.3x
Tue, 08 Aug 2023₹5.3t₹665.4b₹75.7b30x70.5x8x
Thu, 06 Jul 2023₹5.2t₹659.6b₹85.0b31.2x60.6x7.8x
Sat, 03 Jun 2023₹4.9t₹669.5b₹84.4b30.4x57.6x7.3x
Mon, 01 May 2023₹4.3t₹652.8b₹101.6b25.2x42.7x6.6x
Wed, 29 Mar 2023₹3.7t₹646.4b₹102.8b23.3x36.2x5.8x
Fri, 24 Feb 2023₹3.8t₹641.3b₹113.0b24.1x34x6x
Sun, 22 Jan 2023₹4.3t₹613.1b₹114.4b25.3x37.6x7x
Price to Earnings Ratio

37.6x


Total Market Cap: ₹4.3tTotal Earnings: ₹114.4bTotal Revenue: ₹613.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 51.4x202420252026
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 47.0x which is lower than its 3-year average PE of 51.4x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 8.2x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 25% 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-2.46%
Real Estate-4.78%
Retail REITs1.84%
REITS0%0
Industrial REITs-0.086%
Office REITs-0.80%
Real Estate-5.75%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 49.9x.
    • Analysts are expecting annual earnings growth of 30.5%, which is higher than its past year's earnings growth of 6.4% 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 Real Estate industry, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 20% 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
504882 National Standard (India)₹1.88k25.4%
+₹7.6b		-54.7%PE342.8x
EMBDL Embassy Developments₹69.245.7%
+₹5.2b		-45.4%PS4x
NXST Nexus Select Trust₹162.691.8%
+₹4.5b		16.4%PB1.8x
BIRET Brookfield India Real Estate Trust₹344.901.5%
+₹3.7b		19.8%PB1.8x
533285 RDB Infrastructure and Power₹86.7724.0%
+₹3.4b		77.1%PE204.4x

Latest News

GODREJPROP
₹1,871.40
Godrej Properties
7D
-12.5%
1Y
-18.9%
OBEROIRLTY
₹1,648.40
Oberoi Realty
7D
-3.5%
1Y
-17.9%
504882
₹1,884.90
National Standard (India)
7D
25.4%
1Y
-54.7%
SOBHA
₹1,549.40
Sobha
7D
1.3%
1Y
18.5%

SOBHA: Future View Will Maintain Steady Outlook With Balanced Return Assumptions

Analysts kept Sobha's fair value estimate steady at ₹1,475.00, with small tweaks to assumptions on the discount rate, revenue growth, profit margin, and future P/E guiding the unchanged price target. What's in the News Sobha has scheduled a Board meeting on January 16, 2026, to consider the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025 (Key Developments).
500040
₹1,530.90
Aditya Birla Real Estate
7D
-8.3%
1Y
-23.0%

500040: Higher Margin Outlook Will Support Strong Long Term Earnings Potential

Analysts have trimmed their price target for Aditya Birla Real Estate from ₹2,697 to ₹2,654, citing updated assumptions that include a higher discount rate, a lower revenue growth outlook, a higher profit margin, and a slightly lower future P/E multiple. What's in the News Board meeting scheduled for October 28, 2025, to review unaudited standalone and consolidated financial results for the quarter ended September 30, 2025 (Key Developments).
503100
₹1,867.50
Phoenix Mills
7D
-3.8%
1Y
12.6%

503100: Leadership Shift And Director Pay Decisions Will Shape Balanced Outlook

The analyst price target for Phoenix Mills has been updated from ₹1,865 to about ₹1,910, with analysts attributing this change to revised assumptions for revenue growth, profit margins, discount rate and future P/E. What's in the News Phoenix Mills has scheduled a Special or Extraordinary Shareholders Meeting for December 28, 2025, via postal ballot in India to vote on redesignating Mr. Shishir Shrivastava from managing director and key managerial personnel to non executive, non independent director and vice chairman.
LODHA
₹1,058.80
Lodha Developers
7D
-4.7%
1Y
-5.9%

LODHA: Upcoming Results And Higher Margins Will Support Future Upside

Analysts have slightly increased their fair value estimate for Lodha Developers to ₹1,845 from ₹1,835, citing marginally higher assumptions for revenue growth and profit margins, along with a slightly lower discount rate and a modest adjustment to the future P/E outlook. What's in the News Lodha Developers has scheduled a board meeting for October 30, 2025 to review and approve unaudited financial results on both consolidated and standalone bases for the quarter and half year ended September 30, 2025 (Key Developments).
BIRET
₹344.90
Brookfield India Real Estate Trust
7D
1.5%
1Y
19.8%

BIRET: Follow On Offer And Meetings Will Shape Steady Medium Term Outlook

The analyst price target for Brookfield India Real Estate Trust has been adjusted from ₹350.88 to ₹356.19, with analysts pointing to updated assumptions on revenue growth, profit margins and long term P/E expectations as key drivers of this change. What's in the News Brookfield India Real Estate Trust has filed a follow-on equity offering for its units, with a minimum price of ₹327.33 per unit, described as an Income Trust and structured under Regulation S with a subsequent direct listing (Key Developments).
SIGNATURE
₹922.90
Signatureglobal (India)
7D
-16.5%
1Y
-17.3%

SIGNATURE: Stable Margins And Discount Rate Tweaks Will Support Reappraisal

Narrative Update on Signatureglobal (India) The analyst price target for Signatureglobal (India) is maintained at ₹1,520, with analysts pointing to a slightly lower discount rate and modestly adjusted future P/E assumptions as the key drivers behind the refreshed valuation work. What's in the News A board meeting is scheduled for November 7, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (Key Developments).
PRESTIGE
₹1,500.20
Prestige Estates Projects
7D
-7.4%
1Y
4.2%

PRESTIGE: Mumbai Launch And Stable Assumptions Will Support Future Upside Potential

Analysts have maintained their fair value estimate for Prestige Estates Projects at ₹1,985, with only slight adjustments to assumptions such as the discount rate and future P/E, which feed into an unchanged price target and overall view. What's in the News A board meeting is scheduled on Nov 12, 2025 to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended Sep 30, 2025 (Key Developments).
533285
₹86.77
RDB Infrastructure and Power
7D
24.0%
1Y
77.1%
DLF
₹651.05
DLF
7D
-7.4%
1Y
-11.4%

These 4 Measures Indicate That DLF (NSE:DLF) Is Using Debt Safely

Dec 19
These 4 Measures Indicate That DLF (NSE:DLF) Is Using Debt Safely
NXST
₹162.69
Nexus Select Trust
7D
1.8%
1Y
16.4%
EMBDL
₹69.24
Embassy Developments
7D
5.7%
1Y
-45.4%
PURVA
₹251.42
Puravankara
7D
4.7%
1Y
-26.1%
523716
₹289.65
Ashiana Housing
7D
2.2%
1Y
-14.4%