Is Lodha Developers (NSE:LODHA) Using Too Much Debt?
Dec 02
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Indian (NIFTY) Real Estate Sector Analysis
UpdatedDec 03, 2025
DataAggregated Company Financials
Companies199
- 7D-0.6%
- 3M-0.9%
- 1Y-13.6%
- YTD-12.0%
In the last week, the Real Estate industry is flat overall, with Lodha Developers standing out by going down 3.5%. Unfortunately though, the industry is down 13% over the past 12 months. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 03 Dec 2025 | ₹9.9t | ₹1.2t | ₹210.4b | 30.2x | 47.1x | 8.3x |
| Fri, 31 Oct 2025 | ₹10.4t | ₹1.2t | ₹219.1b | 35.5x | 47.3x | 9x |
| Sun, 28 Sep 2025 | ₹9.7t | ₹1.1t | ₹214.7b | 37.9x | 45.1x | 8.7x |
| Tue, 26 Aug 2025 | ₹9.5t | ₹1.1t | ₹212.1b | 36x | 44.7x | 8.8x |
| Thu, 24 Jul 2025 | ₹10.0t | ₹1.0t | ₹206.2b | 35.1x | 48.3x | 9.8x |
| Sat, 21 Jun 2025 | ₹9.9t | ₹985.5b | ₹205.9b | 34.7x | 48.3x | 10.1x |
| Mon, 19 May 2025 | ₹9.0t | ₹975.9b | ₹193.4b | 34.7x | 46.7x | 9.3x |
| Wed, 16 Apr 2025 | ₹8.5t | ₹1.1t | ₹220.1b | 33.5x | 38.5x | 7.9x |
| Fri, 14 Mar 2025 | ₹8.1t | ₹1.1t | ₹220.2b | 32x | 36.7x | 7.5x |
| Sun, 09 Feb 2025 | ₹9.3t | ₹1.1t | ₹228.7b | 31.8x | 40.9x | 8.7x |
| Tue, 07 Jan 2025 | ₹10.1t | ₹1.0t | ₹214.4b | 37.3x | 46.9x | 9.8x |
| Thu, 05 Dec 2024 | ₹10.4t | ₹1.0t | ₹214.5b | 34.6x | 48.6x | 10.1x |
| Sat, 02 Nov 2024 | ₹9.9t | ₹1.0t | ₹227.0b | 30.9x | 43.8x | 9.8x |
| Mon, 30 Sep 2024 | ₹10.7t | ₹978.2b | ₹205.1b | 32.5x | 52x | 10.9x |
| Wed, 28 Aug 2024 | ₹10.0t | ₹971.3b | ₹203.5b | 30.8x | 49x | 10.3x |
| Fri, 26 Jul 2024 | ₹9.9t | ₹837.4b | ₹168.3b | 33.1x | 59x | 11.9x |
| Sun, 23 Jun 2024 | ₹10.2t | ₹832.2b | ₹165.8b | 32.9x | 61.8x | 12.3x |
| Tue, 21 May 2024 | ₹9.3t | ₹804.6b | ₹152.3b | 32.8x | 60.8x | 11.5x |
| Thu, 18 Apr 2024 | ₹8.6t | ₹749.0b | ₹132.3b | 32.6x | 64.9x | 11.5x |
| Sat, 16 Mar 2024 | ₹7.8t | ₹750.1b | ₹132.5b | 30x | 58.6x | 10.3x |
| Mon, 12 Feb 2024 | ₹8.1t | ₹744.3b | ₹129.3b | 41.2x | 62.8x | 10.9x |
| Wed, 10 Jan 2024 | ₹7.9t | ₹732.8b | ₹116.5b | 33.4x | 67.8x | 10.8x |
| Fri, 08 Dec 2023 | ₹6.8t | ₹730.1b | ₹116.4b | 30.2x | 58.5x | 9.3x |
| Sun, 05 Nov 2023 | ₹6.0t | ₹677.0b | ₹104.1b | 30.7x | 57.6x | 8.9x |
| Tue, 03 Oct 2023 | ₹5.5t | ₹672.5b | ₹88.7b | 30.1x | 61.9x | 8.2x |
| Thu, 31 Aug 2023 | ₹5.3t | ₹676.1b | ₹68.7b | 30.6x | 76.7x | 7.8x |
| Sat, 29 Jul 2023 | ₹5.4t | ₹665.2b | ₹77.5b | 30.2x | 70.3x | 8.2x |
| Mon, 26 Jun 2023 | ₹5.0t | ₹659.5b | ₹85.0b | 30.5x | 58.6x | 7.5x |
| Wed, 24 May 2023 | ₹4.7t | ₹676.3b | ₹106.6b | 25.3x | 43.8x | 6.9x |
| Fri, 21 Apr 2023 | ₹4.3t | ₹651.9b | ₹103.0b | 23.5x | 41.4x | 6.5x |
| Sun, 19 Mar 2023 | ₹3.6b | ₹563.2m | ₹69.0m | 15.7x | 52.5x | 6.4x |
| Tue, 14 Feb 2023 | ₹4.1t | ₹618.2b | ₹116.7b | 23.9x | 34.8x | 6.6x |
| Thu, 12 Jan 2023 | ₹4.2t | ₹611.3b | ₹114.1b | 25.6x | 37x | 6.9x |
| Sat, 10 Dec 2022 | ₹4.4t | ₹615.2b | ₹103.6b | 26.9x | 42.3x | 7.1x |
Price to Earnings Ratio
42.3x
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 47.2x which is lower than its 3-year average PE of 51.1x.
- The industry is trading close to its 3-year average PS ratio of 9.0x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 27% 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 | 0.57% | |
| Real Estate | -0.62% | |
| Office REITs | 1.95% | |
| Industrial REITs | 0.43% | |
| REITS | 0% | 0 |
| Retail REITs | -0.17% | |
| Real Estate | -1.09% | |
Industry PE
- Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 47.7x.
- Analysts are expecting annual earnings growth of 37.4%, 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 Office REITs industry, expecting annual earnings growth of 37% over the next 5 years.
- This is better than its past earnings growth rate of 6.4% per year.
- In contrast, the Retail REITs industry is expected to see its earnings grow by 21% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| EMBASSY Embassy Office Parks REIT | ₹437.98 | 2.2% +₹9.1b | 18.9% | PB1.9x | |
| KRT Knowledge Realty Trust | ₹119.47 | 1.6% +₹8.2b | n/a | PB1.2x | |
| TARC TARC | ₹156.08 | 17.7% +₹6.9b | -32.0% | PS44.2x | |
| 532313 Mahindra Lifespace Developers | ₹419.30 | 7.3% +₹6.1b | -16.9% | PE55.3x | |
| BIRET Brookfield India Real Estate Trust | ₹332.03 | 2.6% +₹5.3b | 16.9% | PB1.5x |
