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Indian (NIFTY) Real Estate Sector Analysis

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies201
  • 7D2.4%
  • 3M-8.1%
  • 1Y-1.7%
  • YTD-3.2%

Over the last 7 days, the Real Estate industry has risen 2.4%, driven by gains in Godrej Properties and Lodha Developers of 7.8% and 3.5%, respectively. The industry has been flat over the past 12 months despite the gain this week. Looking forward, 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
Fri, 13 Feb 2026₹9.7t₹1.2t₹214.8b27.6x45x8x
Sun, 11 Jan 2026₹9.9t₹1.2t₹207.9b29x47.8x8.3x
Tue, 09 Dec 2025₹9.8t₹1.2t₹207.8b29.5x47.3x8.2x
Thu, 06 Nov 2025₹10.4t₹1.2t₹222.4b36.7x46.9x9x
Sat, 04 Oct 2025₹9.8t₹1.1t₹214.8b37.5x45.7x8.8x
Mon, 01 Sep 2025₹9.6t₹1.1t₹214.2b36.5x44.8x8.6x
Wed, 30 Jul 2025₹9.6t₹1.0t₹209.2b34.6x45.7x9.3x
Fri, 27 Jun 2025₹10.0t₹984.6b₹205.9b36.6x48.5x10.1x
Sun, 25 May 2025₹9.2t₹986.1b₹198.7b35.1x46.5x9.4x
Tue, 22 Apr 2025₹8.7t₹1.1t₹220.1b32.9x39.7x8.1x
Thu, 20 Mar 2025₹8.5t₹1.1t₹220.1b32.3x38.5x7.9x
Sat, 15 Feb 2025₹8.5t₹1.1t₹223.2b33.8x38.1x7.9x
Mon, 13 Jan 2025₹9.7t₹1.0t₹215.0b36.8x45x9.4x
Wed, 11 Dec 2024₹10.6t₹1.0t₹214.5b34.3x49.4x10.3x
Fri, 08 Nov 2024₹9.9t₹1.0t₹226.6b33.3x43.8x9.8x
Sun, 06 Oct 2024₹10.0t₹976.5b₹204.9b31.8x48.9x10.3x
Tue, 03 Sep 2024₹10.0t₹971.3b₹203.5b32.5x49.3x10.3x
Thu, 01 Aug 2024₹10.2t₹854.5b₹172.8b34.3x58.9x11.9x
Sat, 29 Jun 2024₹10.0t₹832.2b₹165.8b33.3x60.4x12x
Mon, 27 May 2024₹9.4t₹809.1b₹152.8b33.3x61.3x11.6x
Wed, 24 Apr 2024₹8.8t₹749.2b₹132.4b32.4x66.1x11.7x
Fri, 22 Mar 2024₹8.0t₹750.1b₹132.5b31.2x60.6x10.7x
Sun, 18 Feb 2024₹8.2t₹746.1b₹131.8b31.6x62.1x11x
Tue, 16 Jan 2024₹8.1t₹731.7b₹116.6b36.2x69.7x11.1x
Thu, 14 Dec 2023₹6.9t₹730.2b₹116.2b28.5x59.5x9.5x
Sat, 11 Nov 2023₹6.2t₹729.4b₹113.8b28.4x54.8x8.6x
Mon, 09 Oct 2023₹5.6t₹672.6b₹88.7b32.6x62.7x8.3x
Wed, 06 Sep 2023₹5.4t₹670.4b₹88.1b30.6x61.8x8.1x
Fri, 04 Aug 2023₹5.3t₹661.2b₹75.2b29.9x70.3x8x
Sun, 02 Jul 2023₹5.1t₹659.6b₹85.0b31.2x59.9x7.7x
Tue, 30 May 2023₹4.8t₹686.5b₹105.1b27.3x45.4x7x
Thu, 27 Apr 2023₹4.3t₹652.6b₹104.0b24x41x6.5x
Sat, 25 Mar 2023₹3.1t₹564.7b₹90.0b21.6x34.8x5.5x
Mon, 20 Feb 2023₹4.0t₹641.3b₹113.0b23.7x35.6x6.3x
Price to Earnings Ratio

35.6x


Total Market Cap: ₹4.0tTotal Earnings: ₹113.0bTotal Revenue: ₹641.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 51.6x202420252026
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 45.0x which is lower than its 3-year average PE of 51.6x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 8.0x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 24% 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 Market1.26%
Real Estate2.36%
Office REITs2.82%
Retail REITs2.66%
Real Estate2.30%
REITS0%0
Industrial REITs-1.46%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 51.2x.
    • Analysts are expecting annual earnings growth of 25.3%, which is higher than its past year's earnings growth of 11.0% 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 33% over the next 5 years.
  • This is better than its past earnings growth rate of 18% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 17% 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
GODREJPROP Godrej Properties₹1.82k7.8%
+₹39.7b		-10.1%PE34.7x
LODHA Lodha Developers₹1.08k3.5%
+₹36.3b		-7.5%PE32.4x
503100 Phoenix Mills₹1.78k4.0%
+₹24.5b		11.2%PE58.4x
PRESTIGE Prestige Estates Projects₹1.57k3.0%
+₹19.8b		27.0%PE69.8x
KRT Knowledge Realty Trust₹125.713.5%
+₹19.0b		n/aPB1.3x

Latest News

MINDSPACE
₹503.23
Mindspace Business Parks REIT
7D
2.7%
1Y
38.9%

MINDSPACE: Future Acquisitions And Funding Plans Will Shape Distribution Stability

Analysts have modestly raised their fair value estimate for Mindspace Business Parks REIT from ₹484.27 to ₹506.47, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E. What's in the News Management plans to actively look for acquisition opportunities, with the CEO highlighting an intention to focus more on acquisitions to strengthen the portfolio in core markets and target high quality assets that fit the existing platform (Key Developments).
EMBDL
₹63.01
Embassy Developments
7D
-2.7%
1Y
-54.3%
539042
₹240.30
AGI Infra
7D
-4.9%
1Y
40.3%
500040
₹1,415.25
Aditya Birla Real Estate
7D
8.5%
1Y
-32.6%

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

Analysts have reduced their price target for Aditya Birla Real Estate from ₹2,653.88 to ₹2,166.00, citing updated assumptions around revenue growth, margins, discount rate, and future P/E expectations. What's in the News A board meeting is scheduled on January 28, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
SIGNATURE
₹982.90
Signatureglobal (India)
7D
10.7%
1Y
-19.6%
503100
₹1,778.15
Phoenix Mills
7D
4.0%
1Y
11.2%

503100: Leadership Changes And Director Pay Will Support Bullish Outlook

Analysts have lifted their price target on Phoenix Mills to ₹1,959 from ₹1,921, citing updated assumptions that include a different discount rate, adjusted revenue growth and profit margin expectations, and a slightly revised future P/E multiple. What's in the News Board meeting scheduled on January 28, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
LODHA
₹1,084.85
Lodha Developers
7D
3.5%
1Y
-7.5%

LODHA: Data Centre Park And Upcoming Results Will Support Future Upside

Analysts have revised their price target for Lodha Developers from ₹1,850 to ₹1,615, reflecting updates to assumptions on discount rate, revenue growth, profit margins, and the future P/E multiple. What's in the News Lodha Developers has scheduled a board meeting on January 28, 2026 to consider and approve its unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025 (company filing).
AWFIS
₹359.65
Awfis Space Solutions
7D
-3.7%
1Y
-46.0%

AWFIS: Upcoming Business Transfer Will Support Future Earnings Resilience

Analysts have reduced their price target on Awfis Space Solutions from ₹750 to ₹417, reflecting updated assumptions around higher discount rates, a lower projected profit margin, and a more conservative future P/E multiple, while still assuming steady revenue growth. What's in the News A board meeting is scheduled on February 2, 2026 to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.
GODREJPROP
₹1,821.70
Godrej Properties
7D
7.8%
1Y
-10.1%

Here's What Analysts Are Forecasting For Godrej Properties Limited (NSE:GODREJPROP) Following Its Earnings Miss

Feb 08
Here's What Analysts Are Forecasting For Godrej Properties Limited (NSE:GODREJPROP) Following Its Earnings Miss
526367
₹713.85
Ganesh Housing
7D
-4.8%
1Y
-48.0%
ARKADE
₹121.22
Arkade Developers
7D
-4.4%
1Y
-19.9%
PGINVIT
₹91.63
Powergrid Infrastructure Investment Trust
7D
-1.5%
1Y
12.9%
PRESTIGE
₹1,572.70
Prestige Estates Projects
7D
3.0%
1Y
27.0%

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

Analysts have trimmed their price target for Prestige Estates Projects to ₹1,925.95 from ₹1,955.05, citing adjustments to projected revenue growth and future P/E, along with slightly higher profit margin assumptions and a lower discount rate. What's in the News Board meeting scheduled for January 29, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Board Meeting).
DLF
₹651.80
DLF
7D
-1.4%
1Y
-4.2%

DLF: Upcoming Results And Higher Margin Assumptions Will Support Upside

Analysts have trimmed their price target for DLF to ₹876.95 from ₹928.36, citing updated assumptions that reflect slightly different expectations on revenue growth, profit margins and future P/E levels. What's in the News DLF has scheduled a board meeting on January 22, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
KRT
₹125.71
Knowledge Realty Trust
7D
3.5%
1Y
n/a
504882
₹1,479.35
National Standard (India)
7D
-5.2%
1Y
-60.6%