Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Real Estate Industry Analysis

UpdatedDec 23, 2025
DataAggregated Company Financials
Companies196
  • 7D-0.08%
  • 3M-6.4%
  • 1Y-19.9%
  • YTD-18.3%

Over the last 7 days, the Real Estate industry has remained flat, although notably Phoenix Mills gained 3.5%. As for the longer term, the industry has declined 20% in the last year. Earnings are forecast to grow by 32% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025₹8.2t₹1.0t₹176.4b28.7x46.5x7.9x
Fri, 21 Nov 2025₹8.4t₹1.0t₹181.5b31.3x46.4x8.2x
Sun, 19 Oct 2025₹8.5t₹974.5b₹177.0b35.2x47.8x8.7x
Tue, 16 Sep 2025₹8.3t₹942.0b₹172.7b36.4x48x8.8x
Thu, 14 Aug 2025₹8.2t₹946.2b₹173.3b33.6x47.4x8.7x
Sat, 12 Jul 2025₹8.8t₹858.8b₹168.9b35.6x52x10.2x
Mon, 09 Jun 2025₹9.0t₹859.0b₹171.3b32.9x52.8x10.5x
Wed, 07 May 2025₹7.6t₹955.3b₹175.5b34.7x43.1x7.9x
Fri, 04 Apr 2025₹7.6t₹950.3b₹177.8b34.1x42.7x8x
Sun, 02 Mar 2025₹7.1t₹950.0b₹177.8b30.5x39.9x7.5x
Tue, 28 Jan 2025₹7.7t₹925.4b₹184.3b33.1x41.6x8.3x
Thu, 26 Dec 2024₹9.4t₹906.9b₹171.6b34.8x54.9x10.4x
Sat, 23 Nov 2024₹8.8t₹906.2b₹171.6b33.6x51x9.7x
Mon, 21 Oct 2024₹9.2t₹873.2b₹179.0b30.4x51.5x10.6x
Wed, 18 Sep 2024₹9.2t₹842.0b₹170.2b31x54.2x10.9x
Fri, 16 Aug 2024₹8.8t₹845.2b₹170.3b26.9x51.5x10.4x
Sun, 14 Jul 2024₹9.1t₹718.9b₹135.5b32x66.9x12.6x
Tue, 11 Jun 2024₹8.8t₹717.5b₹132.9b28.3x65.9x12.2x
Thu, 09 May 2024₹8.0t₹666.2b₹125.4b31.2x63.5x11.9x
Sat, 06 Apr 2024₹7.9t₹658.5b₹123.1b31.9x64.1x12x
Mon, 04 Mar 2024₹7.8t₹659.4b₹123.3b30.8x63.2x11.8x
Wed, 31 Jan 2024₹7.1t₹650.4b₹108.3b32.4x65.5x10.9x
Fri, 29 Dec 2023₹6.5t₹646.2b₹108.3b28.4x59.9x10x
Sun, 26 Nov 2023₹5.9t₹642.1b₹108.5b25.8x54.1x9.1x
Tue, 24 Oct 2023₹4.8t₹585.5b₹82.6b31.2x58.6x8.3x
Thu, 21 Sep 2023₹4.8t₹585.3b₹81.8b26.4x58.4x8.2x
Sat, 19 Aug 2023₹4.4t₹588.2b₹58.9b27.6x74.9x7.5x
Mon, 17 Jul 2023₹4.4t₹576.7b₹68.4b30x64.5x7.6x
Wed, 14 Jun 2023₹4.3t₹577.1b₹77.8b29x55x7.4x
Fri, 12 May 2023₹3.7t₹574.6b₹93.0b25.2x40.2x6.5x
Sun, 09 Apr 2023₹3.4t₹570.2b₹90.3b21.7x37.1x5.9x
Tue, 07 Mar 2023₹3.4t₹564.9b₹89.8b22.7x37.4x5.9x
Thu, 02 Feb 2023₹3.4t₹531.3b₹102.9b23.5x32.8x6.3x
Sat, 31 Dec 2022₹3.5t₹532.6b₹100.3b24.5x35x6.6x
Price to Earnings Ratio

35x


Total Market Cap: ₹3.5tTotal Earnings: ₹100.3bTotal Revenue: ₹532.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Real Estate Industry Price to Earnings3Y Average 51.9x202320242025
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 46.5x which is lower than its 3-year average PE of 51.9x.
  • The 3-year average PS ratio of 9.1x is higher than the industry's current PS ratio of 8.0x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 21% 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 industry?

IN Market0.84%
Real Estate-0.40%
Real Estate-0.082%
Real Estate Services1.80%
Diversified Real Estate0.014%
Real Estate Operating Companies-0.065%
Real Estate Development-0.15%
Industry PE
  • Investors are most optimistic about the Real Estate Operating Companies industry which is trading above its 3-year average PE ratio of 29.1x.
    • Analysts are expecting annual earnings growth of 86.1%, which is higher than its past year's earnings growth of 10.1% per year.
  • Investors are most pessimistic about the Real Estate Services industry, which is trading below its 3-year average of 42.7x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Operating Companies industry, expecting annual earnings growth of 86% over the next 5 years.
  • This is better than its past earnings growth rate of 10% per year.
  • In contrast, the Diversified Real Estate 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
503100 Phoenix Mills₹1.84k3.5%
+₹22.1b		9.0%PE61.1x
OBEROIRLTY Oberoi Realty₹1.66k2.2%
+₹13.0b		-27.4%PE27.1x
LODHA Lodha Developers₹1.08k0.7%
+₹7.4b		-22.8%PE32.5x
515055 Anant Raj₹558.103.4%
+₹6.6b		-32.0%PE40.7x
DLF DLF₹694.250.3%
+₹5.7b		-17.5%PE40.1x

Latest News

DLF
₹694.25
DLF
7D
0.3%
1Y
-17.5%

These 4 Measures Indicate That DLF (NSE:DLF) Is Using Debt Safely

Dec 19
These 4 Measures Indicate That DLF (NSE:DLF) Is Using Debt Safely
GODREJPROP
₹2,019.50
Godrej Properties
7D
-0.2%
1Y
-29.5%

GODREJPROP: Future Land Acquisitions Will Drive Stronger Residential Development Potential

Analysts have modestly reduced their price target for Godrej Properties from ₹3,500 to about ₹3,430, citing slightly higher discount rates despite improving revenue growth, profit margins, and a lower expected future P/E multiple. What's in the News Surpassed its fiscal 2026 business development guidance of INR 20,000 crore ahead of schedule with the acquisition of a 75 acre land parcel in Nagpur, adding an estimated 1.7 million sq.
503100
₹1,842.40
Phoenix Mills
7D
3.5%
1Y
9.0%

503100: Leadership Changes And Stable Margins Will Shape Balanced Future Outlook

Analysts have nudged their price target for Phoenix Mills slightly higher to ₹1,865 from ₹1,854, citing marginally stronger expectations for revenue growth and a modestly lower discount rate that more than offset a small trim to projected profit margins. What's in the News Phoenix Mills has scheduled a special or extraordinary shareholders meeting on December 28, 2025 via postal ballot in India to seek investor approvals on key matters (company filing).
PRESTIGE
₹1,604.80
Prestige Estates Projects
7D
-1.4%
1Y
-8.4%

PRESTIGE: Mumbai Residential Launch Will Drive Future Outlook And Margin Strength

Analysts have marginally revised their price target on Prestige Estates Projects to ₹1,985.00. This reflects a stable outlook supported by largely unchanged assumptions on revenue growth, profit margins, and valuation multiples.
515055
₹558.10
Anant Raj
7D
3.4%
1Y
-32.0%
LODHA
₹1,082.80
Lodha Developers
7D
0.7%
1Y
-22.8%

LODHA: Higher Margins And Upcoming Results Will Support Stronger Future Upside

Analysts slightly reduced their price target on Lodha Developers to ₹1,835 from about ₹1,852, as they factor in a modestly higher discount rate and somewhat slower revenue growth expectations, partly offset by a marginally stronger profit margin forecast and a lower assumed future P E multiple. What's in the News Board meeting scheduled for October 30, 2025, to consider and approve the unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2025 (company filing) Valuation Changes Fair value estimate reduced slightly to ₹1,834.9 from ₹1,852.1 per share.
AWFIS
₹500.15
Awfis Space Solutions
7D
-3.3%
1Y
-31.4%

AWFIS: Rising Demand For New Powai Centre Will Drive Upside Potential

Analysts have lowered their price target on Awfis Space Solutions from ₹1,100 to ₹925, citing expectations of much faster top line expansion, but at a higher discount rate and based on more conservative future valuation multiples. What's in the News The company incorporated a wholly owned subsidiary, Awfis Transform Private Limited, to house its Design and Build undertaking and expand into turnkey commercial, residential, and mixed-use project solutions (company filing).
OBEROIRLTY
₹1,662.50
Oberoi Realty
7D
2.2%
1Y
-27.4%

OBEROIRLTY: Future Returns Will Likely Disappoint Amid Slower Revenue Trajectory

Analysts have nudged their price target for Oberoi Realty higher from ₹1,314 to about ₹1,338, as they now expect slightly stronger profitability to more than offset a modest tempering of long term revenue growth assumptions and valuation multiples. What's in the News The company has entered into a development agreement to redevelop a 4,706 square meter land parcel on Nepean Sea Road in Mumbai, with an estimated 0.118 million square feet of free sale RERA carpet area entitlement, subject to DC&PR 2034 and applicable laws (company announcement).
INDIQUBE
₹201.10
IndiQube Spaces
7D
-1.9%
1Y
n/a

Is There An Opportunity With IndiQube Spaces Limited's (NSE:INDIQUBE) 48% Undervaluation?

Dec 04
Is There An Opportunity With IndiQube Spaces Limited's (NSE:INDIQUBE) 48% Undervaluation?
533160
₹123.85
Valor Estate
7D
5.0%
1Y
-30.9%
503101
₹516.35
Marathon Nextgen Realty
7D
-5.4%
1Y
-15.9%
KALPATARU
₹334.95
Kalpataru
7D
-4.2%
1Y
n/a
PURVA
₹259.49
Puravankara
7D
7.3%
1Y
-35.8%
SMARTWORKS
₹464.75
Smartworks Coworking Spaces
7D
-1.6%
1Y
n/a
532929
₹878.80
Brigade Enterprises
7D
2.4%
1Y
-30.6%
504882
₹1,239.20
National Standard (India)
7D
-4.3%
1Y
-71.3%