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Indian (NIFTY) Real Estate Sector Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies203
  • 7D0.5%
  • 3M-22.6%
  • 1Y-16.4%
  • YTD-20.6%

Over the last 7 days, the Real Estate industry has remained flat, although notably DLF gained 5.0%. As for the longer term, the industry has declined 16% in the last year. 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
Mon, 06 Apr 2026₹7.9t₹1.2t₹218.8b23.7x36.3x6.4x
Wed, 04 Mar 2026₹8.9t₹1.2t₹218.8b26.6x40.6x7.2x
Fri, 30 Jan 2026₹9.1t₹1.2t₹211.1b26.3x43x7.6x
Sun, 28 Dec 2025₹10.0t₹1.2t₹207.9b29.6x48.2x8.4x
Tue, 25 Nov 2025₹9.9t₹1.2t₹210.4b31.8x47x8.4x
Thu, 23 Oct 2025₹10.3t₹1.1t₹218.5b36.4x47.2x9x
Sat, 20 Sep 2025₹10.1t₹1.1t₹214.2b37.1x47.3x9.1x
Mon, 18 Aug 2025₹9.2t₹1.1t₹212.7b33.8x43.4x8.6x
Wed, 16 Jul 2025₹10.0t₹989.5b₹208.4b35.8x47.8x10.1x
Fri, 13 Jun 2025₹9.9t₹986.2b₹208.5b34.4x47.5x10x
Sun, 11 May 2025₹8.3t₹1.1t₹210.5b33.7x39.6x7.7x
Tue, 08 Apr 2025₹7.9t₹1.1t₹220.1b31.9x36.1x7.4x
Thu, 06 Mar 2025₹8.3t₹1.1t₹220.2b33x37.8x7.7x
Sat, 01 Feb 2025₹9.3t₹1.0t₹228.3b33x40.8x8.9x
Mon, 30 Dec 2024₹10.4t₹1.0t₹214.5b35.1x48.5x10.1x
Wed, 27 Nov 2024₹10.0t₹1.0t₹214.5b33.5x46.5x9.7x
Fri, 25 Oct 2024₹9.7t₹990.1b₹210.5b30.3x45.9x9.8x
Sun, 22 Sep 2024₹10.5t₹971.9b₹203.9b32x51.5x10.8x
Tue, 20 Aug 2024₹10.0t₹971.6b₹203.5b30.6x49.3x10.3x
Thu, 18 Jul 2024₹10.3t₹831.8b₹165.5b32.5x62x12.3x
Sat, 15 Jun 2024₹10.2t₹829.7b₹163.3b31.7x62.5x12.3x
Mon, 13 May 2024₹8.5t₹761.0b₹139.2b31x61.3x11.2x
Wed, 10 Apr 2024₹8.8t₹749.0b₹132.3b33.2x66.3x11.7x
Fri, 08 Mar 2024₹8.5t₹749.9b₹132.5b31.5x64.2x11.3x
Sun, 04 Feb 2024₹8.0t₹739.2b₹128.4b36.6x62.2x10.8x
Tue, 02 Jan 2024₹7.3t₹732.8b₹116.5b30.4x62.5x9.9x
Thu, 30 Nov 2023₹6.6t₹729.0b₹116.7b26.8x56.3x9x
Sat, 28 Oct 2023₹5.4t₹672.0b₹90.3b30.5x59.7x8x
Mon, 25 Sep 2023₹5.4t₹671.2b₹88.7b29.7x60.4x8x
Wed, 23 Aug 2023₹5.1t₹674.1b₹65.8b29x78.1x7.6x
Fri, 21 Jul 2023₹5.2t₹662.6b₹77.1b29.8x68x7.9x
Sun, 18 Jun 2023₹5.1t₹659.9b₹85.0b29.6x59.5x7.7x
Tue, 16 May 2023₹4.6t₹661.0b₹104.0b24.4x44x6.9x
Thu, 13 Apr 2023₹4.2t₹652.0b₹103.1b23.7x40.7x6.4x
Price to Earnings Ratio

40.7x


Total Market Cap: ₹4.2tTotal Earnings: ₹103.1bTotal Revenue: ₹652.0bTotal 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 36.3x 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 6.4x.
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 Market0.0067%
Real Estate0.48%
Industrial REITs2.08%
Real Estate0.80%
REITS0%0
Retail REITs-0.62%
Office REITs-0.76%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 52.6x.
    • Analysts are expecting annual earnings growth of 28.3%, 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 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 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₹529.205.0%
+₹62.1b		-13.0%PE29.6x
OBEROIRLTY Oberoi Realty₹1.52k7.1%
+₹36.7b		2.5%PE24.7x
GODREJPROP Godrej Properties₹1.58k7.7%
+₹34.2b		-17.8%PE30.2x
LODHA Lodha Developers₹710.254.9%
+₹33.2b		-35.8%PE21.2x
PRESTIGE Prestige Estates Projects₹1.18k5.0%
+₹24.4b		11.6%PE52.5x

Latest News

BIRET
₹318.24
Brookfield India Real Estate Trust
7D
-1.7%
1Y
10.3%

BIRET: Upcoming Distribution And Unitholder Meeting Will Support Forward Upside Potential

Analysts have nudged their price target on Brookfield India Real Estate Trust slightly higher to about ₹378 from roughly ₹375, citing largely unchanged assumptions around the discount rate, revenue growth, profit margin and forward P/E. Taken together, these factors support a modest refinement rather than a major shift in their outlook.
531381
₹911.30
Arihant Foundations & Housing
7D
-6.1%
1Y
28.2%
PRESTIGE
₹1,183.20
Prestige Estates Projects
7D
5.0%
1Y
11.6%

PRESTIGE: Metro Station Partnership Will Support Future Real Estate Upside

Analysts have trimmed their price target on Prestige Estates Projects slightly to about ₹1,395 from roughly ₹1,406, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E. What's in the News Prestige Group signed a Definitive Agreement with Bangalore Metro Rail Corporation Limited to adopt and co brand Bellandur Metro Station as "Prestige Bellandur Metro Station", with an investment of ₹1,150 million over a 30 year concession period for station upgrades and long term partnership rights (Client announcement).
GODREJPROP
₹1,584.70
Godrej Properties
7D
7.7%
1Y
-17.8%

GODREJPROP: New Land Acquisitions Across Key Cities Will Support Bullish Outlook

Analysts have trimmed their 12 month price target for Godrej Properties slightly from ₹2,274 to ₹2,265. This reflects updated assumptions on higher forecast revenue growth, lower profit margins, a higher discount rate and a slightly lower future P/E multiple.
511634
₹353.75
Axentra
7D
-1.0%
1Y
n/a
DLF
₹529.20
DLF
7D
5.0%
1Y
-13.0%

DLF: Upcoming Board Meeting Will Reinforce Confidence In Future Margin Sustainability

Analysts have trimmed their price target on DLF slightly to around ₹862, reflecting updated fair value estimates and small adjustments to the discount rate, profit margin expectations, and future P/E assumptions. What's in the News DLF has scheduled a board meeting on Jan 22, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
503100
₹1,555.10
Phoenix Mills
7D
3.3%
1Y
0.3%

503100: Upcoming Results Review Will Support Confidence In Future Upside

Analysts have maintained Phoenix Mills' fair value estimate at ₹1,959.37, making only minor adjustments to inputs such as the discount rate, revenue growth, profit margin and future P/E. This suggests their overall view of the stock's key valuation drivers remains broadly unchanged.
LODHA
₹710.25
Lodha Developers
7D
4.9%
1Y
-35.8%

LODHA: Data Centre Park Development Will Drive Long Term Upside Potential

Analysts have reduced their fair value estimate for Lodha Developers from ₹1,478.29 to ₹1,331.39, reflecting updated assumptions around a slightly higher discount rate, more moderate revenue growth, and a revised future P/E multiple, while keeping profit margin expectations broadly similar. What's in the News Lodha Developers signed a memorandum of understanding with the Maharashtra government for a data centre park involving a total planned investment of ₹1,300,000 million, including an earlier agreement of ₹300,000 million with the Mumbai government under the Green Integrated Data Centre Park policy (Key Developments).
OBEROIRLTY
₹1,519.90
Oberoi Realty
7D
7.1%
1Y
2.5%

OBEROIRLTY: Project Execution And Cash Payouts Will Support Future Upside Potential

Analysts have revised their price target on Oberoi Realty to ₹2,204 from ₹2,457. This reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions in line with broader sector research trends.
532929
₹690.05
Brigade Enterprises
7D
6.0%
1Y
-23.2%

532929: South India Leasing And Industrial Parks Will Drive Future Upside Potential

Analysts have slightly trimmed their price target for Brigade Enterprises from ₹1,062.93 to ₹1,056.50, reflecting updated fair value estimates that incorporate a marginally higher discount rate, while keeping revenue growth, profit margin, and future P/E assumptions broadly unchanged. What's in the News Brigade announced the lease of 550 seats at its BuzzWorks Mindspace Business Park in Hyderabad to Dublin based MyComplianceOffice, taking total leased co working space in the city to 1.1 lakh sq.
533285
₹31.58
RDB Infrastructure and Power
7D
-3.9%
1Y
-45.4%
532016
₹255.00
Espire Hospitality
7D
-1.9%
1Y
-37.6%
505285
₹764.40
Tulive Developers
7D
-3.9%
1Y
9.6%
515055
₹455.65
Anant Raj
7D
12.3%
1Y
9.1%
WEWORK
₹438.00
WeWork India Management
7D
-3.8%
1Y
n/a
504882
₹1,289.05
National Standard (India)
7D
-4.1%
1Y
-62.5%