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Indian (NIFTY) Real Estate Sector Analysis

UpdatedJan 27, 2026
DataAggregated Company Financials
Companies202
  • 7D-3.5%
  • 3M-16.3%
  • 1Y-11.4%
  • YTD-10.8%

Over the last 7 days, the Real Estate industry has dropped 3.5%, driven by Lodha Developers declining 7.4%. In contrast, Omaxe has gained 13%. However, the industry is down 11% over the past year. As for the next few years, earnings are expected to grow by 31% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026₹9.0t₹1.2t₹209.9b27x42.8x7.5x
Fri, 26 Dec 2025₹10.0t₹1.2t₹207.9b29.5x48.1x8.4x
Sun, 23 Nov 2025₹10.0t₹1.2t₹211.9b31.8x47.4x8.4x
Tue, 21 Oct 2025₹10.2t₹1.1t₹218.5b35.8x46.8x8.9x
Thu, 18 Sep 2025₹10.1t₹1.1t₹214.2b37.4x47.1x9x
Sat, 16 Aug 2025₹9.2t₹1.1t₹212.9b33.8x43.3x8.7x
Mon, 14 Jul 2025₹9.8t₹989.5b₹208.4b36.4x47.1x9.9x
Wed, 11 Jun 2025₹10.1t₹986.2b₹208.5b34.3x48.2x10.2x
Fri, 09 May 2025₹8.5t₹1.1t₹212.8b34.2x39.9x7.8x
Sun, 06 Apr 2025₹8.4t₹1.1t₹220.1b33.1x38x7.8x
Tue, 04 Mar 2025₹8.1t₹1.1t₹220.2b31x37x7.6x
Thu, 30 Jan 2025₹9.0t₹1.0t₹227.6b32x39.5x8.6x
Sat, 28 Dec 2024₹10.4t₹1.0t₹214.5b35.1x48.5x10.1x
Mon, 25 Nov 2024₹9.8t₹1.0t₹214.4b33.3x45.5x9.5x
Wed, 23 Oct 2024₹9.7t₹992.7b₹210.1b30.5x46.4x9.8x
Fri, 20 Sep 2024₹9.9t₹971.9b₹203.9b30.8x48.5x10.2x
Sun, 18 Aug 2024₹10.0t₹971.1b₹203.5b30.1x49.2x10.3x
Tue, 16 Jul 2024₹10.1t₹832.5b₹165.9b32.7x60.8x12.1x
Thu, 13 Jun 2024₹9.9t₹830.1b₹163.3b31.1x60.7x11.9x
Sat, 11 May 2024₹8.5t₹759.2b₹139.1b31.3x61.4x11.2x
Mon, 08 Apr 2024₹8.7t₹749.0b₹132.3b32.9x65.4x11.6x
Wed, 06 Mar 2024₹8.6t₹749.9b₹132.5b31.5x64.8x11.5x
Fri, 02 Feb 2024₹7.9t₹749.4b₹127.7b36.6x62.1x10.6x
Sun, 31 Dec 2023₹7.2t₹732.8b₹116.5b30.2x62.1x9.9x
Tue, 28 Nov 2023₹6.6t₹729.0b₹116.7b26.4x56.2x9x
Thu, 26 Oct 2023₹5.4t₹671.3b₹89.3b31.8x61x8.1x
Sat, 23 Sep 2023₹5.4t₹671.2b₹88.7b29.7x60.4x8x
Mon, 21 Aug 2023₹5.1t₹674.1b₹65.8b28.9x77.4x7.6x
Wed, 19 Jul 2023₹5.2t₹660.4b₹75.6b30.2x69.2x7.9x
Fri, 16 Jun 2023₹5.1t₹660.6b₹85.0b29.1x59.6x7.7x
Sun, 14 May 2023₹4.4t₹661.1b₹103.9b24.9x42.5x6.7x
Tue, 11 Apr 2023₹4.0t₹652.0b₹103.1b23.3x39.2x6.2x
Thu, 09 Mar 2023₹4.0t₹646.4b₹102.8b24x38.9x6.2x
Sat, 04 Feb 2023₹4.0t₹612.0b₹116.0b23.8x34.7x6.6x
Price to Earnings Ratio

34.7x


Total Market Cap: ₹4.0tTotal Earnings: ₹116.0bTotal Revenue: ₹612.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 51.5x202420252026
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 42.8x which is lower than its 3-year average PE of 51.5x.
  • 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 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-1.43%
Real Estate-3.45%
REITS0%0
Office REITs-0.093%
Retail REITs-0.38%
Industrial REITs-0.86%
Real Estate-4.28%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 50.5x.
    • Analysts are expecting annual earnings growth of 30.4%, 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 32% 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
OMAXE Omaxe₹79.3412.7%
+₹1.6b		-16.9%PS1x
MINDSPACE Mindspace Business Parks REIT₹490.920.4%
+₹1.3b		30.1%PB2.3x
LOTUSDEV Sri Lotus Developers and Realty₹147.561.2%
+₹879.7m		n/aPE34.6x
ARVSMART Arvind SmartSpaces₹541.553.0%
+₹710.8m		-21.9%PE26.7x
544346 RDB Real Estate Constructions₹167.708.2%
+₹684.9m		n/aPS3.6x

Latest News

500040
₹1,267.45
Aditya Birla Real Estate
7D
-7.5%
1Y
-33.4%

500040: Stable Margins And Upcoming Results Will Support Long Term Earnings Potential

Analysts have maintained their fair value estimate for Aditya Birla Real Estate at ₹2,653.88, with only minor refinements to inputs such as the discount rate, revenue growth, profit margin and future P/E that support the latest price target narrative. What's in the News A board meeting is scheduled for January 28, 2026 to consider and approve the unaudited standalone financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
OBEROIRLTY
₹1,467.60
Oberoi Realty
7D
-3.7%
1Y
-12.3%

OBEROIRLTY: Redevelopment Pipeline And Dividend Plans Will Support Bullish Outlook

Analysts have trimmed their price target for Oberoi Realty to ₹1,828 from about ₹1,913, citing slightly softer revenue growth assumptions, a marginally higher discount rate, and a lower future P/E multiple, while keeping profit margin expectations broadly unchanged. What's in the News Board meeting scheduled on January 19, 2026 to consider and approve unaudited financial results for the quarter ended December 31, 2025, and to consider and declare a 3rd interim dividend for FY25-26 on the equity shares.
503100
₹1,705.60
Phoenix Mills
7D
-4.2%
1Y
12.7%

503100: Leadership Shift And Director Pay Will Support Stronger Outlook

Analysts have nudged their fair value estimate for Phoenix Mills slightly higher to ₹1,921 from about ₹1,910, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E that collectively support a modestly stronger outlook for the shares. What's in the News Phoenix Mills has scheduled a board meeting on January 28, 2026, to consider and approve its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
532929
₹737.70
Brigade Enterprises
7D
-6.6%
1Y
-27.3%

532929: Hyderabad Land Additions Will Drive Future Upside Potential

Analysts have adjusted their price target for Brigade Enterprises from ₹1,274 to about ₹1,211, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E that indicate a slightly more cautious stance on the stock’s valuation inputs. What's in the News Board meeting scheduled on Jan 30, 2026 to consider and approve unaudited standalone and consolidated financial results for the third quarter and nine months ended Dec 31, 2025 (company filing).
LODHA
₹907.20
Lodha Developers
7D
-7.4%
1Y
-19.8%

LODHA: Data Centre Park Commitments Will Support Future Upside

Analysts have made a small upward adjustment to their price target for Lodha Developers to ₹1,850 from about ₹1,845. This reflects slightly higher assumed profit margins and a marginally richer future P/E multiple, partly offset by more measured revenue growth expectations and a modestly higher discount rate.
NILASPACES
₹14.73
Nila Spaces
7D
11.2%
1Y
-0.1%
SOBHA
₹1,369.70
Sobha
7D
0.4%
1Y
7.0%
GODREJPROP
₹1,517.90
Godrej Properties
7D
-10.4%
1Y
-29.8%
515055
₹489.70
Anant Raj
7D
-5.5%
1Y
-8.4%
MINDSPACE
₹490.92
Mindspace Business Parks REIT
7D
0.4%
1Y
30.1%
PRESTIGE
₹1,392.00
Prestige Estates Projects
7D
-2.3%
1Y
9.5%

PRESTIGE: New Bengaluru And Chennai Projects Will Support Future Upside Potential

Analysts have reduced their price target on Prestige Estates Projects from ₹1,985 to about ₹1,955, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E, which slightly adjust their valuation view. What's in the News A board meeting is scheduled on January 29, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
544346
₹167.70
RDB Real Estate Constructions
7D
8.2%
1Y
n/a
LOTUSDEV
₹147.56
Sri Lotus Developers and Realty
7D
1.2%
1Y
n/a
OMAXE
₹79.34
Omaxe
7D
12.7%
1Y
-16.9%

Revenues Working Against Omaxe Limited's (NSE:OMAXE) Share Price

Dec 25
Revenues Working Against Omaxe Limited's (NSE:OMAXE) Share Price
532016
₹309.50
Espire Hospitality
7D
9.4%
1Y
-12.2%
ARVSMART
₹541.55
Arvind SmartSpaces
7D
3.0%
1Y
-21.9%

ARVSMART: Vadodara Expansion Will Drive Future Upside In Residential Portfolio

Analysts have nudged their price target on Arvind SmartSpaces slightly higher to ₹876.0 per share. This reflects modestly lower perceived risk and a reaffirmation of strong revenue growth and profit margin expectations.