Narrative Update • May 09
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Indian (NIFTY) Real Estate Industry Analysis
UpdatedMay 09, 2026
DataAggregated Company Financials
Companies201
- 7D5.0%
- 3M-0.3%
- 1Y-2.2%
- YTD-6.9%
Over the last 7 days, the Real Estate industry has risen 5.0%, driven by gains from Lodha Developers of 7.2%. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 31% per annum.
Industry Valuation and Performance
Has the Indian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 10 May 2026 | ₹7.6t | ₹1.1t | ₹202.5b | 27.5x | 37.5x | 6.9x |
| Tue, 07 Apr 2026 | ₹6.3t | ₹1.1t | ₹182.9b | 23.4x | 34.5x | 5.9x |
| Thu, 05 Mar 2026 | ₹6.8t | ₹1.1t | ₹182.9b | 25.6x | 37.4x | 6.4x |
| Sat, 31 Jan 2026 | ₹7.3t | ₹1.1t | ₹181.1b | 26.1x | 40.1x | 6.9x |
| Mon, 29 Dec 2025 | ₹8.2t | ₹1.0t | ₹176.4b | 28.1x | 46.4x | 7.9x |
| Wed, 26 Nov 2025 | ₹8.2t | ₹1.0t | ₹178.9b | 29.8x | 46x | 8.1x |
| Fri, 24 Oct 2025 | ₹8.5t | ₹974.7b | ₹177.0b | 35.2x | 48.2x | 8.7x |
| Sun, 21 Sep 2025 | ₹8.4t | ₹943.6b | ₹172.7b | 36.4x | 48.9x | 9x |
| Tue, 19 Aug 2025 | ₹8.2t | ₹942.8b | ₹173.4b | 34.4x | 47.5x | 8.7x |
| Thu, 17 Jul 2025 | ₹8.9t | ₹873.8b | ₹168.3b | 35.5x | 53.1x | 10.2x |
| Sat, 14 Jun 2025 | ₹8.8t | ₹858.0b | ₹171.2b | 34.3x | 51.5x | 10.3x |
| Mon, 12 May 2025 | ₹7.3t | ₹955.7b | ₹173.2b | 32.9x | 42x | 7.6x |
| Wed, 09 Apr 2025 | ₹7.1t | ₹950.3b | ₹177.8b | 32.1x | 39.9x | 7.5x |
| Fri, 07 Mar 2025 | ₹7.3t | ₹950.3b | ₹177.8b | 31.9x | 41.2x | 7.7x |
| Sun, 02 Feb 2025 | ₹8.3t | ₹932.7b | ₹185.3b | 31.3x | 44.6x | 8.9x |
| Tue, 31 Dec 2024 | ₹9.3t | ₹906.8b | ₹171.6b | 34.9x | 54.3x | 10.3x |
| Thu, 28 Nov 2024 | ₹9.0t | ₹906.8b | ₹171.6b | 33x | 52.3x | 9.9x |
| Sat, 26 Oct 2024 | ₹8.5t | ₹870.0b | ₹179.5b | 29.5x | 47.3x | 9.8x |
| Mon, 23 Sep 2024 | ₹9.5t | ₹852.2b | ₹172.8b | 30.8x | 55x | 11.1x |
| Wed, 21 Aug 2024 | ₹9.0t | ₹851.7b | ₹172.5b | 29.2x | 52.4x | 10.6x |
| Fri, 19 Jul 2024 | ₹9.2t | ₹718.2b | ₹135.1b | 31.6x | 68.4x | 12.9x |
| Sun, 16 Jun 2024 | ₹9.2t | ₹715.8b | ₹135.1b | 31.1x | 68.4x | 12.9x |
| Tue, 14 May 2024 | ₹7.9t | ₹669.0b | ₹126.1b | 30.3x | 62.4x | 11.8x |
| Thu, 11 Apr 2024 | ₹8.1t | ₹658.5b | ₹123.1b | 32.7x | 65.4x | 12.2x |
| Sat, 09 Mar 2024 | ₹7.8t | ₹659.4b | ₹123.3b | 29.2x | 62.9x | 11.8x |
| Mon, 05 Feb 2024 | ₹7.2t | ₹650.9b | ₹120.0b | 32.5x | 60.4x | 11.1x |
| Wed, 03 Jan 2024 | ₹6.5t | ₹645.9b | ₹108.3b | 28.6x | 60.2x | 10.1x |
| Fri, 01 Dec 2023 | ₹5.9t | ₹642.1b | ₹108.4b | 26.4x | 54.8x | 9.3x |
| Sun, 29 Oct 2023 | ₹4.8t | ₹590.7b | ₹94.9b | 28.4x | 50.8x | 8.2x |
| Tue, 26 Sep 2023 | ₹4.8t | ₹585.3b | ₹81.8b | 27.3x | 58.1x | 8.1x |
| Thu, 24 Aug 2023 | ₹4.5t | ₹589.2b | ₹61.6b | 28x | 73.1x | 7.6x |
| Sat, 22 Jul 2023 | ₹4.4t | ₹578.9b | ₹69.9b | 27.6x | 63x | 7.6x |
| Mon, 19 Jun 2023 | ₹4.2t | ₹575.7b | ₹77.7b | 29.1x | 54.5x | 7.4x |
| Wed, 17 May 2023 | ₹3.9t | ₹577.1b | ₹95.2b | 23.2x | 40.9x | 6.7x |
Price to Earnings Ratio
40.9x
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 37.5x which is lower than its 3-year average PE of 52.4x.
- The 3-year average PS ratio of 9.2x is higher than the industry's current PS ratio of 6.9x.
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 industry?
| IN Market | 2.14% | |
| Real Estate | 3.91% | |
| Real Estate | 4.99% | |
| Real Estate Development | 5.60% | |
| Diversified Real Estate | 4.51% | |
| Real Estate Operating Companies | 2.53% | |
| Real Estate Services | -4.46% | |
Industry PE
- Investors are most optimistic about the Real Estate Operating Companies industry which is trading above its 3-year average PE ratio of 37.4x.
- Analysts are expecting annual earnings growth of 71.4%, which is higher than its past year's earnings growth of 13.2% per year.
- Investors are most pessimistic about the Real Estate Services industry, which is trading below its 3-year average of 44.4x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Operating Companies industry, expecting annual earnings growth of 71% over the next 5 years.
- This is better than its past earnings growth rate of 13% 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| LODHA Lodha Developers | ₹962.10 | 7.2% +₹64.1b | -22.1% | PE28x | |
| DLF DLF | ₹608.25 | 3.6% +₹52.6b | -3.7% | PE34x | |
| PRESTIGE Prestige Estates Projects | ₹1.51k | 6.6% +₹40.0b | 17.6% | PE66.9x | |
| EMBDL Embassy Developments | ₹69.98 | 51.2% +₹33.0b | -23.3% | PS4.3x | |
| 515055 Anant Raj | ₹560.85 | 15.1% +₹26.5b | 30.8% | PE38.3x |
