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Indian (NIFTY) Real Estate Sector Analysis

UpdatedJul 14, 2026
DataAggregated Company Financials
Companies207
  • 7D2.1%
  • 3M16.8%
  • 1Y-8.0%
  • YTD1.8%

In the last week, the Real Estate industry is up 2.1%, with Lodha Developers up 9.4%. However, the industry is down 8.0% over the past year. Earnings are forecast to grow by 27% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Jul 2026₹10.7t₹1.4t₹252.5b26.3x42.2x7.8x
Thu, 11 Jun 2026₹9.2t₹1.4t₹262.5b26.7x35x6.6x
Sat, 09 May 2026₹9.4t₹1.3t₹238.6b27.8x39.5x7.3x
Mon, 06 Apr 2026₹7.9t₹1.2t₹218.8b23.7x36.3x6.4x
Wed, 04 Mar 2026₹8.9t₹1.2t₹218.8b26.6x40.6x7.2x
Fri, 30 Jan 2026₹9.1t₹1.2t₹211.1b26.3x43x7.6x
Sun, 28 Dec 2025₹10.0t₹1.2t₹207.9b29.6x48.2x8.4x
Tue, 25 Nov 2025₹9.9t₹1.2t₹210.4b31.8x47x8.4x
Thu, 23 Oct 2025₹10.3t₹1.1t₹218.5b36.4x47.2x9x
Sat, 20 Sep 2025₹10.1t₹1.1t₹214.2b37.1x47.3x9.1x
Mon, 18 Aug 2025₹9.2t₹1.1t₹212.7b33.8x43.4x8.6x
Wed, 16 Jul 2025₹10.0t₹989.5b₹208.4b35.8x47.8x10.1x
Fri, 13 Jun 2025₹9.9t₹986.2b₹208.5b34.4x47.5x10x
Sun, 11 May 2025₹8.3t₹1.1t₹210.5b33.7x39.6x7.7x
Tue, 08 Apr 2025₹7.9t₹1.1t₹220.1b31.9x36.1x7.4x
Thu, 06 Mar 2025₹8.3t₹1.1t₹220.2b33x37.8x7.7x
Sat, 01 Feb 2025₹9.3t₹1.0t₹228.3b33x40.8x8.9x
Mon, 30 Dec 2024₹10.4t₹1.0t₹214.5b35.1x48.5x10.1x
Wed, 27 Nov 2024₹10.0t₹1.0t₹214.5b33.5x46.5x9.7x
Fri, 25 Oct 2024₹9.7t₹990.1b₹210.5b30.3x45.9x9.8x
Sun, 22 Sep 2024₹10.5t₹971.9b₹203.9b32x51.5x10.8x
Tue, 20 Aug 2024₹10.0t₹971.6b₹203.5b30.6x49.3x10.3x
Thu, 18 Jul 2024₹10.3t₹831.8b₹165.5b32.5x62x12.3x
Sat, 15 Jun 2024₹10.2t₹829.7b₹163.3b31.7x62.5x12.3x
Mon, 13 May 2024₹8.5t₹761.0b₹139.2b31x61.3x11.2x
Wed, 10 Apr 2024₹8.8t₹749.0b₹132.3b33.2x66.3x11.7x
Fri, 08 Mar 2024₹8.5t₹749.9b₹132.5b31.5x64.2x11.3x
Sun, 04 Feb 2024₹8.0t₹739.2b₹128.4b36.6x62.2x10.8x
Tue, 02 Jan 2024₹7.3t₹732.8b₹116.5b30.4x62.5x9.9x
Thu, 30 Nov 2023₹6.6t₹729.0b₹116.7b26.8x56.3x9x
Sat, 28 Oct 2023₹5.4t₹672.0b₹90.3b30.5x59.7x8x
Mon, 25 Sep 2023₹5.4t₹671.2b₹88.7b29.7x60.4x8x
Wed, 23 Aug 2023₹5.1t₹674.1b₹65.8b29x78.1x7.6x
Fri, 21 Jul 2023₹5.2t₹662.6b₹77.1b29.8x68x7.9x
Price to Earnings Ratio

68x


Total Market Cap: ₹5.2tTotal Earnings: ₹77.1bTotal Revenue: ₹662.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 50.7x202420252026
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 42.2x which is lower than its 3-year average PE of 50.7x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 7.8x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 48% per year over the last three years.
  • Revenues for these companies have grown 27% 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-0.059%
Real Estate2.07%
Real Estate2.64%
Industrial REITs2.16%
REITS0%0
Retail REITs-0.10%
Office REITs-0.15%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 53.9x.
    • Analysts expect its future annual earnings growth (39.9%) to be largely in line with prior year's earnings growth.
  • 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 40% 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?

CompanyLast Price7D1YValuation
LODHA Lodha Developers₹1.20k9.4%
+₹102.7b		-15.6%PE34.9x
GODREJPROP Godrej Properties₹2.16k5.7%
+₹35.0b		-4.2%PE35.2x
DLF DLF₹682.351.3%
+₹22.4b		-17.5%PE38.3x
503100 Phoenix Mills₹2.15k2.2%
+₹16.3b		42.5%PE63x
515055 Anant Raj₹589.357.0%
+₹13.9b		3.2%PE38.2x

Latest News

GODREJPROP
₹2,162.60
Godrej Properties
7D
5.7%
1Y
-4.2%
505355
₹1,086.50
Nesco
7D
-5.6%
1Y
-9.4%
DLF
₹682.35
DLF
7D
1.3%
1Y
-17.5%
LODHA
₹1,198.65
Lodha Developers
7D
9.4%
1Y
-15.6%
KALPATARU
₹284.90
Kalpataru
7D
-7.7%
1Y
-32.1%
OBEROIRLTY
₹1,925.20
Oberoi Realty
7D
-1.4%
1Y
6.7%
SIGNATURE
₹846.50
Signatureglobal (India)
7D
7.3%
1Y
-32.5%
Narrative Update • Jul 07

SIGNATURE: Premium Gurugram Project And Governance Moves Will Support Future Upside

Analysts have reduced their fair value estimate for Signatureglobal (India) from ₹1,275 to ₹1,000, citing updated assumptions for revenue growth, profit margins, the discount rate, and a higher future P/E multiple. What’s in the News for Signatureglobal (India) Signatureglobal (India) has scheduled a Board Meeting on May 13, 2026, at 17:04 Indian Standard Time to consider and approve audited financial results for the quarter and financial year ended March 31, 2026, on both a standalone and consolidated basis.
RUSTOMJEE
₹419.30
Keystone Realtors
7D
-2.3%
1Y
-36.6%
Narrative Update • Jul 07

RUSTOMJEE: Higher Margin Outlook Will Support Stronger Future Earnings Repricing

Analysts have trimmed their fair value estimate for Keystone Realtors to ₹560 from ₹645 as they factor in more moderate revenue growth assumptions, a lower future P/E and an updated discount rate, partly offset by expectations for stronger profit margins. What's in the News Keystone Realtors has scheduled a Board Meeting on May 12, 2026.
EMBASSY
₹443.45
Embassy Office Parks REIT
7D
-1.1%
1Y
14.0%
504882
₹511.65
National Standard (India)
7D
-34.2%
1Y
-79.6%
532929
₹569.50
Brigade Enterprises
7D
6.0%
1Y
-30.0%
Narrative Update • Jun 30

532929: Hyderabad Residential Pipeline And Capital Actions Will Shape Balanced Outlook

Analysts have trimmed their fair value estimate for Brigade Enterprises from about ₹728.88 to roughly ₹546.66, citing updated assumptions for discount rate, revenue growth, profit margins and future P/E that collectively point to a more balanced risk reward profile for the stock. What’s in the News for Brigade Enterprises Brigade Enterprises is contesting the revocation of Environmental Clearance for its Brigade Morgan Heights residential project in Perumbakkam, Chennai, calling the order legally unsustainable and factually incorrect, and is pursuing legal and regulatory remedies.
515055
₹589.35
Anant Raj
7D
7.0%
1Y
3.2%
PRESTIGE
₹1,724.30
Prestige Estates Projects
7D
1.2%
1Y
-0.1%
Narrative Update • Jun 30

PRESTIGE: Airport City And Mumbai Developments Will Drive Future Upside Potential

Analysts have revised their price target for Prestige Estates Projects to ₹2,220 from a prior fair value of ₹2,309, reflecting updated assumptions around higher projected revenue growth, a lower discount rate, a reduced profit margin profile, and a more conservative future P/E multiple. What’s in the News for Prestige Estates Projects Prestige Estates Projects, in partnership with Bengaluru Airport City Limited, announced an integrated destination within Bengaluru Airport City that combines a convention and exhibition centre, luxury hotels under the St. Regis and Marriott Marquis brands, premium offices, and curated food and beverage spaces.
MAXESTATES
₹445.05
Max Estates
7D
-6.6%
1Y
-13.7%
Narrative Update • Jun 29

MAXESTATES: Residential Pipeline And Board Changes Will Support Future Upside

Analysts have trimmed their fair value estimate for Max Estates from ₹581 to ₹531. This reflects updated assumptions on discount rates, revenue growth, profit margins and future P/E multiples.
503100
₹2,153.25
Phoenix Mills
7D
2.2%
1Y
42.5%
Narrative Update • Jun 23

503100: Board Meeting And Refined Assumptions Will Guide Measured Future Outlook

Analysts have nudged their price target for Phoenix Mills slightly higher from ₹2,009.70 to ₹2,014.00, citing updated assumptions around discount rate, revenue growth, profit margin, and future P/E, which together support a modest adjustment to fair value estimates. What's in the News Phoenix Mills has scheduled a Board Meeting for April 27, 2026, at 16:56 Indian Standard Time to review key corporate matters.
512179
₹324.25
Sunteck Realty
7D
-4.3%
1Y
-26.3%
Narrative Update • Jun 19

512179: Upcoming Board Meeting And Potential Dividend Will Support Bullish Rerating

Analysts have maintained their price target for Sunteck Realty at ₹516.83 per share, with the latest narrative highlighting slightly lower assumed discount rates and a modestly adjusted future P/E, while keeping revenue growth and profit margin expectations unchanged. What’s in the News for Sunteck Realty Sunteck Realty has scheduled a board meeting for April 21, 2026.