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Indian (NIFTY) Real Estate Sector Analysis

UpdatedJan 31, 2026
DataAggregated Company Financials
Companies201
  • 7D2.9%
  • 3M-13.7%
  • 1Y-13.1%
  • YTD-8.2%

Over the last 7 days, the Real Estate industry has remained flat, although notably DLF gained 8.0%. Unfortunately though, the industry is down 12% 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 31 Jan 2026₹9.1t₹1.2t₹213.1b26.6x42.8x7.5x
Mon, 29 Dec 2025₹10.0t₹1.2t₹207.9b29.6x48.2x8.4x
Wed, 26 Nov 2025₹10.0t₹1.2t₹210.5b30.6x47.4x8.4x
Fri, 24 Oct 2025₹10.3t₹1.1t₹218.5b35.8x47.1x9x
Sun, 21 Sep 2025₹10.1t₹1.1t₹214.2b37.1x47.3x9.1x
Tue, 19 Aug 2025₹9.4t₹1.1t₹212.7b35.1x44x8.7x
Thu, 17 Jul 2025₹10.1t₹1.0t₹207.7b35.5x48.4x10x
Sat, 14 Jun 2025₹9.9t₹986.2b₹208.5b34.3x47.6x10.1x
Mon, 12 May 2025₹8.3t₹1.1t₹210.5b33.1x39.6x7.7x
Wed, 09 Apr 2025₹8.1t₹1.1t₹220.1b32.5x36.8x7.5x
Fri, 07 Mar 2025₹8.3t₹1.1t₹220.2b33.6x37.8x7.7x
Sun, 02 Feb 2025₹9.3t₹1.1t₹227.4b32.1x40.9x8.8x
Tue, 31 Dec 2024₹10.3t₹1.0t₹214.5b35.2x48x10x
Thu, 28 Nov 2024₹10.0t₹1.0t₹214.5b33.5x46.5x9.7x
Sat, 26 Oct 2024₹9.5t₹990.7b₹223.7b29.6x42.6x9.6x
Mon, 23 Sep 2024₹10.5t₹971.9b₹203.9b32x51.5x10.8x
Wed, 21 Aug 2024₹10.0t₹971.4b₹203.5b30.9x49.3x10.3x
Fri, 19 Jul 2024₹10.2t₹831.8b₹165.5b32.1x61.8x12.3x
Sun, 16 Jun 2024₹10.2t₹829.8b₹165.5b31.8x61.6x12.3x
Tue, 14 May 2024₹8.6t₹761.0b₹139.2b31x61.7x11.3x
Thu, 11 Apr 2024₹8.8t₹749.0b₹132.3b33.5x66.6x11.8x
Sat, 09 Mar 2024₹8.5t₹749.9b₹132.5b31.5x64.2x11.4x
Mon, 05 Feb 2024₹8.0t₹739.3b₹129.1b36.6x61.9x10.8x
Wed, 03 Jan 2024₹7.2t₹732.8b₹116.5b30.4x62x9.9x
Fri, 01 Dec 2023₹6.6t₹729.0b₹116.6b26.8x56.8x9.1x
Sun, 29 Oct 2023₹5.5t₹677.2b₹102.8b30.5x53.4x8.1x
Tue, 26 Sep 2023₹5.4t₹671.2b₹88.7b29.5x61.2x8.1x
Thu, 24 Aug 2023₹5.2t₹675.1b₹68.5b28.6x75.6x7.7x
Sat, 22 Jul 2023₹5.2t₹662.6b₹77.1b29.8x68x7.9x
Mon, 19 Jun 2023₹5.1t₹659.5b₹85.0b29.9x59.5x7.7x
Wed, 17 May 2023₹4.6t₹661.0b₹104.0b24.9x44x6.9x
Fri, 14 Apr 2023₹4.2t₹652.0b₹103.0b23.3x41x6.5x
Sun, 12 Mar 2023₹3.9t₹646.4b₹102.8b23.3x38.2x6.1x
Tue, 07 Feb 2023₹4.0t₹613.0b₹116.5b23.8x34.7x6.6x
Price to Earnings Ratio

34.7x


Total Market Cap: ₹4.0tTotal Earnings: ₹116.5bTotal Revenue: ₹613.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Sector Price to Earnings3Y Average 51.5x202420252026
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 43.0x which is lower than its 3-year average PE of 51.5x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 7.6x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 22% 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 Market1.81%
Real Estate2.94%
Real Estate3.84%
REITS0%0
Office REITs-0.036%
Industrial REITs-0.32%
Retail REITs-3.09%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 50.7x.
    • Analysts are expecting annual earnings growth of 30.0%, 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 31% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 20% 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₹635.758.0%
+₹117.1b		-14.7%PE35.5x
LODHA Lodha Developers₹971.507.9%
+₹71.1b		-19.3%PE29x
PRESTIGE Prestige Estates Projects₹1.46k5.2%
+₹31.3b		7.5%PE64.9x
OBEROIRLTY Oberoi Realty₹1.49k2.5%
+₹13.5b		-17.8%PE24.2x
GODREJPROP Godrej Properties₹1.58k2.3%
+₹10.7b		-32.3%PE30.6x

Latest News

543542
₹1,194.95
Kesar India
7D
-5.5%
1Y
79.5%
KRT
₹122.80
Knowledge Realty Trust
7D
-2.0%
1Y
n/a
PRESTIGE
₹1,461.50
Prestige Estates Projects
7D
5.2%
1Y
7.5%
GODREJPROP
₹1,576.80
Godrej Properties
7D
2.3%
1Y
-32.3%

Is Godrej Properties (NSE:GODREJPROP) Using Debt Sensibly?

Jan 30
Is Godrej Properties (NSE:GODREJPROP) Using Debt Sensibly?
INDIQUBE
₹176.26
IndiQube Spaces
7D
-6.6%
1Y
n/a
LODHA
₹971.50
Lodha Developers
7D
7.9%
1Y
-19.3%
500040
₹1,262.55
Aditya Birla Real Estate
7D
-1.8%
1Y
-41.4%
AWFIS
₹388.40
Awfis Space Solutions
7D
-5.8%
1Y
-41.5%
SOBHA
₹1,450.20
Sobha
7D
5.0%
1Y
9.4%

SOBHA: Future View Will Maintain Steady Outlook Ahead Of Upcoming Results

Analysts have maintained their fair value estimate for Sobha at ₹1,475.00, explaining that slightly revised assumptions for revenue growth, profit margin and future P/E now underpin the same headline target despite modest adjustments to the discount rate. What's in the News Sobha has scheduled a board meeting on January 16, 2026 to review the unaudited standalone financial results for the quarter ended December 31, 2025 (Key Developments).
532313
₹376.55
Mahindra Lifespace Developers
7D
9.1%
1Y
-9.9%

532313: Bengaluru And Mumbai Redevelopment Pipeline Will Drive Future Upside

Analysts have trimmed their fair value estimate for Mahindra Lifespace Developers slightly, from ₹554.50 to ₹552.50, reflecting updated views on revenue growth, profit margin assumptions, discount rate and future P/E expectations. What's in the News Mahindra Blossom Developers Limited has been incorporated in Mumbai on January 2, 2026, as a wholly owned public limited subsidiary, following earlier board approval to set up this entity and subscribe to 100% of its paid up capital (company filing).
OBEROIRLTY
₹1,490.90
Oberoi Realty
7D
2.5%
1Y
-17.8%

OBEROIRLTY: Redevelopment Pipeline And Dividend Plans Will Support Bullish Outlook

Analysts have trimmed their price target for Oberoi Realty to ₹1,828 from about ₹1,913, citing slightly softer revenue growth assumptions, a marginally higher discount rate, and a lower future P/E multiple, while keeping profit margin expectations broadly unchanged. What's in the News Board meeting scheduled on January 19, 2026 to consider and approve unaudited financial results for the quarter ended December 31, 2025, and to consider and declare a 3rd interim dividend for FY25-26 on the equity shares.
503100
₹1,668.45
Phoenix Mills
7D
-3.4%
1Y
1.6%

503100: Leadership Shift And Director Pay Will Support Stronger Outlook

Analysts have nudged their fair value estimate for Phoenix Mills slightly higher to ₹1,921 from about ₹1,910, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E that collectively support a modestly stronger outlook for the shares. What's in the News Phoenix Mills has scheduled a board meeting on January 28, 2026, to consider and approve its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
532929
₹752.05
Brigade Enterprises
7D
-1.2%
1Y
-35.7%

532929: Hyderabad Land Additions Will Drive Future Upside Potential

Analysts have adjusted their price target for Brigade Enterprises from ₹1,274 to about ₹1,211, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E that indicate a slightly more cautious stance on the stock’s valuation inputs. What's in the News Board meeting scheduled on Jan 30, 2026 to consider and approve unaudited standalone and consolidated financial results for the third quarter and nine months ended Dec 31, 2025 (company filing).
DLF
₹635.75
DLF
7D
8.0%
1Y
-14.7%

Results: DLF Limited Exceeded Expectations And The Consensus Has Updated Its Estimates

Jan 25
Results: DLF Limited Exceeded Expectations And The Consensus Has Updated Its Estimates
NXST
₹154.36
Nexus Select Trust
7D
-3.1%
1Y
11.3%
EMBDL
₹66.23
Embassy Developments
7D
7.8%
1Y
-54.5%