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Indian (NIFTY) Real Estate Sector Analysis

UpdatedJun 20, 2026
DataAggregated Company Financials
Companies208
  • 7D3.7%
  • 3M12.4%
  • 1Y-18.4%
  • YTD-7.5%

Over the last 7 days, the Real Estate industry has risen 6.8%, driven by gains from DLF of 6.4%. In contrast, the industry has lost 17% in the last 12 months. Earnings are forecast to grow by 26% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Jun 2026₹9.7t₹1.4t₹261.5b26.4x37.1x7x
Mon, 18 May 2026₹8.8t₹1.3t₹242.8b26.9x36.4x6.7x
Wed, 15 Apr 2026₹8.7t₹1.2t₹221.0b26.6x39.5x7x
Fri, 13 Mar 2026₹8.4t₹1.2t₹218.8b25.9x38.5x6.8x
Sun, 08 Feb 2026₹9.5t₹1.2t₹213.2b26.6x44.5x7.8x
Tue, 06 Jan 2026₹10.3t₹1.2t₹207.9b29.1x49.6x8.6x
Thu, 04 Dec 2025₹10.1t₹1.2t₹207.7b30x48.5x8.4x
Sat, 01 Nov 2025₹10.3t₹1.2t₹221.2b36.2x46.7x8.8x
Mon, 29 Sep 2025₹9.7t₹1.1t₹214.7b37.9x45.1x8.7x
Wed, 27 Aug 2025₹9.8t₹1.1t₹215.5b36.9x45.4x8.8x
Fri, 25 Jul 2025₹9.9t₹1.0t₹206.2b35.3x47.9x9.7x
Sun, 22 Jun 2025₹9.9t₹985.5b₹205.9b34.7x48.3x10.1x
Tue, 20 May 2025₹9.2t₹975.9b₹193.4b34.2x47.5x9.4x
Thu, 17 Apr 2025₹8.5t₹1.1t₹220.1b33.3x38.8x7.9x
Sat, 15 Mar 2025₹8.1t₹1.1t₹220.2b32x36.7x7.5x
Mon, 10 Feb 2025₹9.3t₹1.1t₹228.6b31.8x40.9x8.7x
Wed, 08 Jan 2025₹10.2t₹1.0t₹214.4b38.1x47.4x9.9x
Fri, 06 Dec 2024₹10.5t₹1.0t₹214.5b34.8x48.8x10.2x
Sun, 03 Nov 2024₹9.9t₹1.0t₹227.0b30.9x43.8x9.8x
Tue, 01 Oct 2024₹10.5t₹978.2b₹205.1b31.6x51.2x10.7x
Thu, 29 Aug 2024₹10.0t₹971.3b₹203.5b31.6x48.9x10.2x
Sat, 27 Jul 2024₹10.0t₹839.5b₹169.5b33.8x59.2x12x
Mon, 24 Jun 2024₹10.3t₹832.2b₹165.8b32.9x61.9x12.3x
Wed, 22 May 2024₹9.3t₹803.6b₹152.5b32.3x60.7x11.5x
Fri, 19 Apr 2024₹8.5t₹749.0b₹132.3b32x64.6x11.4x
Sun, 17 Mar 2024₹7.8t₹750.1b₹132.5b30x58.6x10.3x
Tue, 13 Feb 2024₹7.9t₹744.3b₹129.3b40.1x60.9x10.6x
Thu, 11 Jan 2024₹7.9t₹732.8b₹116.5b34.9x68.1x10.8x
Sat, 09 Dec 2023₹6.9t₹730.1b₹116.4b29.9x59x9.4x
Mon, 06 Nov 2023₹6.0t₹682.8b₹104.2b30.7x57.5x8.8x
Wed, 04 Oct 2023₹5.5t₹672.5b₹88.7b30.4x61.9x8.2x
Fri, 01 Sep 2023₹5.3t₹670.4b₹88.1b30.6x60x7.9x
Sun, 30 Jul 2023₹5.4t₹654.6b₹76.6b30.2x71.2x8.3x
Tue, 27 Jun 2023₹5.0t₹659.5b₹85.0b30.9x58.7x7.6x
Price to Earnings Ratio

58.7x


Total Market Cap: ₹5.0tTotal Earnings: ₹85.0bTotal Revenue: ₹659.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 51.2x202420252026
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 37.3x which is lower than its 3-year average PE of 51.2x.
  • The 3-year average PS ratio of 9.2x is higher than the industry's current PS ratio of 7.0x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 45% per year over the last three years.
  • Revenues for these companies have grown 28% 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 Market2.85%
Real Estate3.71%
Real Estate4.81%
Retail REITs0.72%
Industrial REITs0.13%
REITS0%0
Office REITs-0.027%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 53.7x.
    • Analysts are expecting annual earnings growth of 31.5%, which is lower than the prior year's growth of 36.9% 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 Office REITs industry, expecting annual earnings growth of 31% 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 23% 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
DLF DLF₹624.506.4%
+₹92.7b		-26.9%PE35x
PRESTIGE Prestige Estates Projects₹1.50k7.9%
+₹47.4b		-12.8%PE53.9x
503100 Phoenix Mills₹1.88k7.0%
+₹43.8b		16.4%PE55x
GODREJPROP Godrej Properties₹1.80k6.2%
+₹31.5b		-26.2%PE29.2x
OBEROIRLTY Oberoi Realty₹1.68k3.7%
+₹22.1b		-11.9%PE24.4x

Latest News

OBEROIRLTY
₹1,683.50
Oberoi Realty
7D
3.7%
1Y
-11.9%
Narrative Update • Jun 18

OBEROIRLTY: Lower Discount Rate And Capital Plans Will Shape Future Returns

Analysts have inched up their fair value estimate for Oberoi Realty stock to ₹1,825 from ₹1,824, citing small adjustments to the discount rate and forward P/E assumptions while keeping revenue growth and profit margin expectations broadly unchanged. Analyst Commentary Analysts covering Oberoi Realty are largely fine tuning their valuation work rather than overhauling their fundamental view.
PRESTIGE
₹1,497.30
Prestige Estates Projects
7D
7.9%
1Y
-12.8%
532929
₹545.25
Brigade Enterprises
7D
7.1%
1Y
-36.5%
Narrative Update • Jun 16

532929: Township Expansion Pipeline Will Drive Future Re Rating Potential

Analysts have made a small downward revision to Brigade Enterprises' fair value estimate, with the assessed price target moving from about ₹734.53 to around ₹728.88. This reflects updated assumptions on discount rate, revenue growth, profit margin and future P/E levels.
DLF
₹624.50
DLF
7D
6.4%
1Y
-26.9%
Narrative Update • Jun 16

DLF: Higher FY 2026 Dividend Plans Will Support Bullish Stock Thesis

Analysts have slightly trimmed their fair value estimate for DLF to around ₹816 from about ₹822, reflecting minor updates to discount rate assumptions and future P/E inputs, while keeping revenue growth and profit margin expectations broadly unchanged. What’s in the News for DLF DLF Limited’s board has recommended a dividend of ₹8 per share (400%) for FY 2025-26, reflecting its stated focus on shareholder returns.
LODHA
₹918.15
Lodha Developers
7D
2.1%
1Y
-38.1%
Narrative Update • Jun 15

LODHA: Upcoming Governance Decisions Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for Lodha Developers to ₹1,191.56 from ₹1,238.06, citing a mix of updated assumptions around the discount rate, revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for April 24, 2026, to consider and approve audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2026, and to consider a potential dividend recommendation on equity shares for that period.
SOBHA
₹1,418.90
Sobha
7D
6.5%
1Y
-4.7%
Narrative Update • Jun 14

SOBHA: Dividend Plans And Margin Assumptions Will Guide Future Fair View

Analysts have kept Sobha's fair value unchanged at ₹1,450, with small tweaks to discount rate, revenue growth, profit margin and future P/E assumptions. These adjustments drive a more refined view rather than a directional shift in the price target.
GODREJPROP
₹1,795.90
Godrej Properties
7D
6.2%
1Y
-26.2%
Narrative Update • Jun 11

GODREJPROP: New Land Bank Will Test Premium Positioning And Earnings Multiple

Narrative Update on Godrej Properties The analyst fair value estimate for Godrej Properties has moved from about ₹1,517.88 to ₹1,550.00. Analysts attribute the revised price target to updated assumptions on discount rate, revenue growth, profit margins and future P/E.
503100
₹1,880.70
Phoenix Mills
7D
7.0%
1Y
16.4%
Narrative Update • Jun 05

503100: Upcoming Board Meeting And Revised Assumptions Will Support Future Confidence

Phoenix Mills' analyst fair value estimate has shifted from ₹1,945.37 to ₹2,009.70, with analysts linking the change to updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Phoenix Mills has scheduled a board meeting on Apr 27, 2026, at 16:56 Indian Standard Time.
515055
₹519.85
Anant Raj
7D
-2.8%
1Y
1.3%
EMBASSY
₹425.83
Embassy Office Parks REIT
7D
-0.8%
1Y
9.6%
Narrative Update • Jun 03

EMBASSY: Planned Refinancing And FY2027 Distribution Outlook Will Support Future Payouts

Analysts have trimmed the price target on Embassy Office Parks REIT slightly from ₹481.35 to ₹479.50, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E as key inputs to their revised view. What's in the News Embassy Office Parks REIT issued earnings guidance for FY2027, indicating expected NOI in the range of ₹41,500 million to ₹43,500 million.
PVP
₹29.85
PVP Ventures
7D
-4.0%
1Y
31.2%
533285
₹22.99
RDB Infrastructure and Power
7D
-5.5%
1Y
-55.0%
WEWORK
₹630.55
WeWork India Management
7D
-1.4%
1Y
n/a
Analysis Article • May 29

WeWork India Management's (NSE:WEWORK) Soft Earnings Don't Show The Whole Picture

WeWork India Management Limited's ( NSE:WEWORK ) recent soft profit numbers didn't appear to worry shareholders, as the...
BAGMANE
₹102.66
Bagmane Prime Office REIT
7D
-0.7%
1Y
n/a
503101
₹399.15
Marathon Nextgen Realty
7D
-1.2%
1Y
-32.1%
512038
₹347.00
TCC Concept
7D
-3.0%
1Y
-37.8%