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Indian (NIFTY) Real Estate Sector Analysis

UpdatedApr 27, 2026
DataAggregated Company Financials
Companies205
  • 7D-1.2%
  • 3M-0.1%
  • 1Y-9.0%
  • YTD-11.0%

Over the last 7 days, the Real Estate industry has dropped 1.2%, driven by pullbacks in DLF and Lodha Developers of 2.4% and 3.7%, respectively. On the other hand Sobha is actually up 6.4%. Overall the industry is down 9.0% in 12 months. 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
Mon, 27 Apr 2026₹8.9t₹1.3t₹222.0b26.9x40.1x7.1x
Wed, 25 Mar 2026₹8.0t₹1.2t₹218.8b23.6x36.4x6.5x
Fri, 20 Feb 2026₹9.4t₹1.2t₹218.9b28.6x42.9x7.6x
Sun, 18 Jan 2026₹9.8t₹1.2t₹208.0b28.1x47.1x8.2x
Tue, 16 Dec 2025₹10.0t₹1.2t₹207.9b30.1x48.2x8.4x
Thu, 13 Nov 2025₹10.3t₹1.2t₹206.9b36.5x49.8x8.6x
Sat, 11 Oct 2025₹10.0t₹1.1t₹216.2b36.9x46.2x8.8x
Mon, 08 Sep 2025₹9.7t₹1.1t₹214.2b38.8x45.2x8.7x
Wed, 06 Aug 2025₹9.5t₹1.1t₹213.4b34.8x44.3x9x
Fri, 04 Jul 2025₹9.8t₹988.5b₹205.8b35.7x47.4x9.9x
Sun, 01 Jun 2025₹9.4t₹987.3b₹208.6b31.8x45x9.5x
Tue, 29 Apr 2025₹8.8t₹1.1t₹223.1b33.8x39.2x8.1x
Thu, 27 Mar 2025₹8.6t₹1.1t₹220.1b32.4x39.2x8x
Sat, 22 Feb 2025₹8.6t₹1.1t₹220.1b33.1x39x8x
Mon, 20 Jan 2025₹9.5t₹1.0t₹215.6b36x44.2x9.2x
Wed, 18 Dec 2024₹10.8t₹1.0t₹214.5b35.8x50.4x10.5x
Fri, 15 Nov 2024₹9.3t₹1.0t₹228.1b31.8x40.9x9x
Sun, 13 Oct 2024₹10.1t₹991.0b₹208.0b31.2x48.7x10.2x
Tue, 10 Sep 2024₹9.9t₹971.2b₹203.5b30.9x48.8x10.2x
Thu, 08 Aug 2024₹9.6t₹864.1b₹176.7b30.4x54.5x11.1x
Sat, 06 Jul 2024₹10.2t₹832.2b₹165.8b34.3x61.8x12.3x
Mon, 03 Jun 2024₹9.3t₹853.7b₹151.1b30x61.8x10.9x
Wed, 01 May 2024₹8.9t₹756.1b₹135.8b32.8x65.4x11.8x
Fri, 29 Mar 2024₹8.3t₹750.1b₹132.5b30.7x62.6x11.1x
Sun, 25 Feb 2024₹8.4t₹747.6b₹132.5b32.2x63.6x11.3x
Tue, 23 Jan 2024₹8.0t₹732.5b₹117.2b36.4x68.1x10.9x
Thu, 21 Dec 2023₹6.8t₹730.1b₹116.2b28.3x58.9x9.4x
Sat, 18 Nov 2023₹6.5t₹726.7b₹115.9b25.1x56x8.9x
Mon, 16 Oct 2023₹5.8t₹672.7b₹88.8b32.5x64.8x8.6x
Wed, 13 Sep 2023₹5.4t₹671.2b₹88.8b29.8x61.3x8.1x
Fri, 11 Aug 2023₹5.3t₹667.5b₹71.6b29.8x73.7x7.9x
Sun, 09 Jul 2023₹5.2t₹660.1b₹85.0b31.5x61.3x7.9x
Tue, 06 Jun 2023₹4.9t₹664.6b₹84.9b28.6x57.4x7.3x
Thu, 04 May 2023₹4.3t₹652.8b₹101.6b25.5x42.8x6.7x
Price to Earnings Ratio

42.8x


Total Market Cap: ₹4.3tTotal Earnings: ₹101.6bTotal Revenue: ₹652.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 51.8x202420252026
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 40.1x which is lower than its 3-year average PE of 51.8x.
  • The 3-year average PS ratio of 9.2x is higher than the industry's current PS ratio of 7.1x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 30% per year over the last three years.
  • Revenues for these companies have grown 24% 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-0.91%
Real Estate-1.16%
REITS0%0
Industrial REITs-0.48%
Office REITs-0.84%
Real Estate-1.21%
Retail REITs-2.15%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 53.1x.
    • Analysts are expecting annual earnings growth of 26.6%, which is lower than the prior year's growth of 58.9% 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 Real Estate industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings growth rate of 19% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 19% 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
LODHA Lodha Developers₹879.452.7%
+₹22.9b		-32.9%PE25.6x
GODREJPROP Godrej Properties₹1.83k3.9%
+₹20.6b		-13.8%PE34.8x
PRESTIGE Prestige Estates Projects₹1.41k2.3%
+₹13.5b		6.8%PE62.4x
503100 Phoenix Mills₹1.80k2.1%
+₹13.2b		10.5%PE59.2x
SOBHA Sobha₹1.43k9.1%
+₹12.7b		13.1%PE107.4x

Latest News

SOBHA
₹1,430.60
Sobha
7D
9.1%
1Y
13.1%

SOBHA: Fair View Will Be Reassessed As Profitability Assumptions Shift

Analysts have maintained Sobha's fair value at ₹1,325. The revised price target reflects updates to key model inputs such as discount rate, revenue growth, profit margin, and future P/E assumptions, rather than a change in their overall valuation view.
LODHA
₹879.45
Lodha Developers
7D
2.7%
1Y
-32.9%
OBEROIRLTY
₹1,723.30
Oberoi Realty
7D
1.7%
1Y
4.0%

OBEROIRLTY: Revised Margin Outlook And Debenture Redemption Plans Will Shape Future Returns

Analysts have trimmed their fair value estimate for Oberoi Realty to ₹1,756.62 from ₹1,795.88 as they factor in revised revenue growth assumptions, a slightly higher discount rate, and an updated future P/E outlook, partly offset by a stronger profit margin view. Analyst Commentary Bullish Takeaways Bullish analysts point to the higher profit margin assumptions as a key support for the updated fair value, suggesting that improved cost discipline and mix can help offset a more conservative revenue view.
BIRET
₹320.94
Brookfield India Real Estate Trust
7D
-2.4%
1Y
10.6%

BIRET: Upcoming Distribution Will Support Forward Upside Potential

Analysts now place Brookfield India Real Estate Trust's price target at about ₹375, down slightly from roughly ₹378. This reflects small tweaks to assumptions around revenue growth, profit margins and future P/E expectations.
503100
₹1,803.75
Phoenix Mills
7D
2.1%
1Y
10.5%
SIGNATURE
₹866.70
Signatureglobal (India)
7D
4.9%
1Y
-24.3%

SIGNATURE: Upcoming Board Deals Will Support Constructive View On Earnings

The analyst price target for Signatureglobal (India) has shifted slightly from about ₹1,198 to ₹1,169 as analysts factor in updated assumptions on discount rate, revenue growth, profit margin and future P/E expectations. What's in the News A board meeting is scheduled for Mar 29, 2026 to consider acquiring a residential project from GCL for a lump sum consideration of ₹50,00,00,000 and the transfer and sale of 35,69,731 equity shares of face value ₹10 each held by the company, along with other business matters (company filing).
PRESTIGE
₹1,405.10
Prestige Estates Projects
7D
2.3%
1Y
6.8%

PRESTIGE: Mumbai And Hyderabad Projects Will Underpin Future Upside Potential

Analysts have trimmed the fair value estimate for Prestige Estates Projects slightly, adjusting the price target from about ₹2,320 to roughly ₹2,316 as they incorporate moderated assumptions on revenue growth and profit margins alongside a higher future P/E multiple. What's in the News Prestige Estates Projects entered a joint venture with ABIL Group via Aaramnagar Realty LLP to develop a roughly 6 acre land parcel in Aram Nagar, Versova, Mumbai, with an estimated development potential of about 1.7 million sq.
GODREJPROP
₹1,828.20
Godrej Properties
7D
3.9%
1Y
-13.8%

GODREJPROP: New Land Acquisitions Will Support Stronger Future Potential

Analysts have revised their fair value estimate for Godrej Properties to ₹2,896 from ₹3,410, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Acquired a ~20-acre land parcel in East Bengaluru for a planned premium residential project with estimated revenue potential of about ₹13,500 million, in the Whitefield growth corridor near NH-648 and operational metro stations at Kadugodi and Hopefarm (Key Developments).
DLF
₹592.45
DLF
7D
-0.7%
1Y
-10.8%

DLF: Upcoming Results And Margin Outlook Will Support Bullish Long Term View

Analysts have trimmed the price target on DLF to ₹829.76 from ₹861.50, reflecting updated assumptions that combine slightly lower revenue growth and P/E with a higher profit margin outlook and a largely unchanged discount rate. What's in the News DLF has scheduled a board meeting on Jan 22, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
EMBDL
₹46.28
Embassy Developments
7D
-3.0%
1Y
-54.5%
500040
₹1,470.70
Aditya Birla Real Estate
7D
4.7%
1Y
-22.4%

500040: CFO Transition And Margin Outlook Will Support Future Returns

Analysts have trimmed their price target on Aditya Birla Real Estate from about ₹2,043 to approximately ₹1,899, reflecting updated assumptions around revenue growth, profit margins and the future P/E multiple. What's in the News Retirement of Chief Financial Officer and Key Managerial Personnel Mr. Snehal Shah is scheduled for the close of business hours on February 28, 2026, marking a planned leadership transition in the finance function (Key Developments).
515055
₹500.70
Anant Raj
7D
-1.2%
1Y
10.6%
539042
₹361.55
AGI Infra
7D
-2.7%
1Y
112.8%
RAYMONDREL
₹436.55
Raymond Realty
7D
-5.9%
1Y
n/a
533285
₹33.14
RDB Infrastructure and Power
7D
-12.8%
1Y
-39.0%
KOLTEPATIL
₹381.60
Kolte-Patil Developers
7D
-4.9%
1Y
12.9%