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Indian (NIFTY) Real Estate Sector Analysis

UpdatedApr 26, 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 declines in DLF and Lodha Developers of 2.4% and 3.7%, respectively. In contrast, Sobha has gained 6.4%. However, the industry is down 9.0% over the past year. 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
Sun, 26 Apr 2026₹8.9t₹1.3t₹222.0b26.9x40.1x7.1x
Tue, 24 Mar 2026₹7.8t₹1.2t₹218.8b23.5x35.8x6.4x
Thu, 19 Feb 2026₹9.6t₹1.2t₹218.9b28.3x43.8x7.8x
Sat, 17 Jan 2026₹9.8t₹1.2t₹208.1b28.1x47.1x8.2x
Mon, 15 Dec 2025₹10.0t₹1.2t₹207.9b29.3x48.3x8.4x
Wed, 12 Nov 2025₹10.4t₹1.2t₹219.5b36.7x47.3x8.7x
Fri, 10 Oct 2025₹9.9t₹1.1t₹216.2b36.4x45.7x8.7x
Sun, 07 Sep 2025₹9.7t₹1.1t₹214.2b38.8x45.2x8.7x
Tue, 05 Aug 2025₹9.4t₹1.0t₹209.8b35.1x45x9.1x
Thu, 03 Jul 2025₹9.8t₹987.2b₹206.2b35.8x47.5x9.9x
Sat, 31 May 2025₹9.4t₹991.6b₹209.8b32.6x44.7x9.5x
Mon, 28 Apr 2025₹8.7t₹1.1t₹223.1b33.6x38.8x8x
Wed, 26 Mar 2025₹8.6t₹1.1t₹220.1b34x39.2x8x
Fri, 21 Feb 2025₹8.7t₹1.1t₹220.2b33x39.3x8.1x
Sun, 19 Jan 2025₹9.5t₹1.0t₹215.6b36x44x9.2x
Tue, 17 Dec 2024₹10.8t₹1.0t₹214.5b35.9x50.4x10.5x
Thu, 14 Nov 2024₹9.3t₹1.0t₹226.3b32.3x41.2x9x
Sat, 12 Oct 2024₹10.1t₹990.9b₹208.0b31.2x48.7x10.2x
Mon, 09 Sep 2024₹9.9t₹971.2b₹203.5b32.2x48.9x10.2x
Wed, 07 Aug 2024₹9.5t₹864.6b₹176.9b30.3x53.5x10.9x
Fri, 05 Jul 2024₹10.2t₹832.2b₹165.8b34.2x61.6x12.3x
Sun, 02 Jun 2024₹9.3t₹853.7b₹151.1b30x61.8x10.9x
Tue, 30 Apr 2024₹8.8t₹757.3b₹135.8b32.1x64.9x11.6x
Thu, 28 Mar 2024₹8.3t₹750.1b₹132.5b30.5x62.3x11x
Sat, 24 Feb 2024₹8.4t₹747.6b₹132.5b32.2x63.6x11.3x
Mon, 22 Jan 2024₹8.0t₹732.5b₹117.2b36.4x68.1x10.9x
Wed, 20 Dec 2023₹7.0t₹730.1b₹116.2b29x60.5x9.6x
Fri, 17 Nov 2023₹6.4t₹724.5b₹115.2b24.7x55.6x8.8x
Sun, 15 Oct 2023₹5.8t₹672.7b₹88.8b32.5x64.8x8.6x
Tue, 12 Sep 2023₹5.6t₹671.1b₹88.7b31x63.2x8.4x
Thu, 10 Aug 2023₹5.3t₹667.8b₹71.9b31.1x73.5x7.9x
Sat, 08 Jul 2023₹5.2t₹659.6b₹85.0b31.5x61.2x7.9x
Mon, 05 Jun 2023₹4.9t₹663.6b₹84.5b28.6x57.5x7.3x
Wed, 03 May 2023₹4.3t₹651.6b₹104.0b25.2x41.7x6.7x
Price to Earnings Ratio

41.7x


Total Market Cap: ₹4.3tTotal Earnings: ₹104.0bTotal Revenue: ₹651.6bTotal 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 29% 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 53.0x.
    • 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
SOBHA Sobha₹1.42k6.4%
+₹9.1b		12.9%PE106.4x
PRESTIGE Prestige Estates Projects₹1.37k1.2%
+₹7.1b		8.8%PE61x
SIGNATURE Signatureglobal (India)₹835.254.2%
+₹4.9b		-26.5%PE3630.3x
INDIQUBE IndiQube Spaces₹179.1212.5%
+₹4.2b		n/aPS2.8x
532929 Brigade Enterprises₹776.252.0%
+₹3.8b		-24.1%PE25.5x

Latest News

LODHA
₹840.70
Lodha Developers
7D
-3.7%
1Y
-35.6%
OBEROIRLTY
₹1,687.00
Oberoi Realty
7D
-1.4%
1Y
5.0%

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
₹322.10
Brookfield India Real Estate Trust
7D
-2.4%
1Y
11.1%

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.
532929
₹776.25
Brigade Enterprises
7D
2.0%
1Y
-24.1%

532929: South India Residential Township And Industrial Park Pipeline Will Drive Future Upside

Analysts have trimmed their price target for Brigade Enterprises from ₹1,056.50 to ₹1,002.43, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Brigade signed a Joint Development Agreement for an 8.63 acre parcel in Gunjur, East Bengaluru, which supports plans for a larger 39 acre integrated residential township in the Whitefield, Sarjapur corridor with an estimated GDV of about ₹72,000m (Key Developments).
503100
₹1,778.25
Phoenix Mills
7D
-0.9%
1Y
9.3%
SIGNATURE
₹835.25
Signatureglobal (India)
7D
4.2%
1Y
-26.5%

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
₹1,373.20
Prestige Estates Projects
7D
1.2%
1Y
8.8%

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.
LOTUSDEV
₹144.81
Sri Lotus Developers and Realty
7D
3.5%
1Y
n/a
GODREJPROP
₹1,769.40
Godrej Properties
7D
0.6%
1Y
-15.1%

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
₹587.05
DLF
7D
-2.4%
1Y
-10.2%

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).
SOBHA
₹1,417.00
Sobha
7D
6.4%
1Y
12.9%

SOBHA: Higher Profitability Expectations May Drive Future Upside Potential

Analysts have reduced Sobha's fair value estimate from ₹2,412.67 to ₹2,263.16 as they reset assumptions for revenue growth, profit margin and future P/E, while keeping the overall risk profile broadly similar. Valuation Changes Fair Value: Revised from ₹2,412.67 to ₹2,263.16, representing a modest reduction in the central estimate.
EMBASSY
₹432.97
Embassy Office Parks REIT
7D
-1.6%
1Y
13.9%

EMBASSY: Planned Debt Issues And Acquisitions Will Support Future Distributions

Analysts have trimmed their price target for Embassy Office Parks REIT slightly from ₹484.47 to ₹483.12. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations.
515055
₹462.05
Anant Raj
7D
-10.0%
1Y
0.7%
INDIQUBE
₹179.12
IndiQube Spaces
7D
12.5%
1Y
n/a
NXST
₹154.53
Nexus Select Trust
7D
-2.1%
1Y
20.0%
KALPATARU
₹325.10
Kalpataru
7D
4.5%
1Y
n/a