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Indian (NIFTY) Real Estate Sector Analysis

UpdatedFeb 07, 2026
DataAggregated Company Financials
Companies201
  • 7D3.5%
  • 3M-10.4%
  • 1Y-10.2%
  • YTD-5.0%

Over the last 7 days, the Real Estate industry has risen 3.5%, driven by gains from Lodha Developers of 8.6%. Meanwhile, Keystone Realtors actually underperformed within the industry, shrinking 7.1% in the last week. However, the industry is down 10% over the past year. As for the next few years, earnings are expected to grow by 32% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026₹9.5t₹1.2t₹214.7b26.3x44.2x7.8x
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
Thu, 25 May 2023₹4.7t₹676.3b₹106.6b23.6x43.7x6.9x
Sat, 22 Apr 2023₹4.2t₹651.9b₹103.0b23.9x40.7x6.4x
Mon, 20 Mar 2023₹3.3t₹564.7b₹90.0b21.6x36.4x5.8x
Wed, 15 Feb 2023₹4.0t₹621.0b₹118.2b22.6x33.9x6.5x
Price to Earnings Ratio

33.9x


Total Market Cap: ₹4.0tTotal Earnings: ₹118.2bTotal Revenue: ₹621.0bTotal 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 44.2x 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 7.8x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 23% 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 Market1.60%
Real Estate3.54%
Real Estate4.18%
Retail REITs3.65%
Industrial REITs2.03%
Office REITs0.61%
REITS0%0
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 51.0x.
    • Analysts are expecting annual earnings growth of 36.0%, 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 Office REITs industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings growth rate of 11% 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
LODHA Lodha Developers₹1.06k8.6%
+₹83.6b		-14.8%PE31.5x
DLF DLF₹663.754.4%
+₹69.3b		-12.4%PE37.1x
PRESTIGE Prestige Estates Projects₹1.56k6.5%
+₹40.7b		15.4%PE69.1x
GODREJPROP Godrej Properties₹1.70k7.8%
+₹37.0b		-22.6%PE32.4x
503100 Phoenix Mills₹1.73k3.9%
+₹23.1b		5.5%PE56.9x

Latest News

GODREJPROP
₹1,699.80
Godrej Properties
7D
7.8%
1Y
-22.6%

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
SIGNATURE
₹890.00
Signatureglobal (India)
7D
-1.2%
1Y
-29.5%
RUSTOMJEE
₹462.95
Keystone Realtors
7D
-7.1%
1Y
-23.2%
AWFIS
₹363.00
Awfis Space Solutions
7D
-6.5%
1Y
-48.1%

Analysts Have Been Trimming Their Awfis Space Solutions Limited (NSE:AWFIS) Price Target After Its Latest Report

Feb 05
Analysts Have Been Trimming Their Awfis Space Solutions Limited (NSE:AWFIS) Price Target After Its Latest Report
PRESTIGE
₹1,555.90
Prestige Estates Projects
7D
6.5%
1Y
15.4%

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).
LOTUSDEV
₹146.76
Sri Lotus Developers and Realty
7D
-2.1%
1Y
n/a
515055
₹546.15
Anant Raj
7D
8.3%
1Y
-11.7%
500040
₹1,352.35
Aditya Birla Real Estate
7D
7.1%
1Y
-39.9%
DLF
₹663.75
DLF
7D
4.4%
1Y
-12.4%

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).
543542
₹1,145.00
Kesar India
7D
-4.2%
1Y
65.2%
RAYMONDREL
₹460.75
Raymond Realty
7D
-9.0%
1Y
n/a
LODHA
₹1,055.10
Lodha Developers
7D
8.6%
1Y
-14.8%
MINDSPACE
₹494.45
Mindspace Business Parks REIT
7D
-0.8%
1Y
31.3%
OBEROIRLTY
₹1,532.60
Oberoi Realty
7D
2.8%
1Y
-16.0%

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
₹1,733.05
Phoenix Mills
7D
3.9%
1Y
5.5%

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).
504882
₹1,518.40
National Standard (India)
7D
-7.5%
1Y
-62.4%