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Indian (NIFTY) Real Estate Sector Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies204
  • 7D7.9%
  • 3M-10.7%
  • 1Y-4.5%
  • YTD-12.8%

In the last week, the Real Estate industry is up 7.9%, with Lodha Developers leading the way, up 16%. In contrast, the industry has lost 4.5% in the last 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
Tue, 14 Apr 2026₹8.7t₹1.2t₹221.0b26.6x39.5x7x
Thu, 12 Mar 2026₹8.5t₹1.2t₹218.8b26x39.1x6.9x
Sat, 07 Feb 2026₹9.5t₹1.2t₹214.7b26.3x44.2x7.8x
Mon, 05 Jan 2026₹10.2t₹1.2t₹207.9b29.4x48.9x8.5x
Wed, 03 Dec 2025₹9.9t₹1.2t₹210.4b30.2x47.1x8.3x
Fri, 31 Oct 2025₹10.4t₹1.2t₹219.1b35.5x47.3x9x
Sun, 28 Sep 2025₹9.7t₹1.1t₹214.7b37.9x45.1x8.7x
Tue, 26 Aug 2025₹9.5t₹1.1t₹212.1b36x44.7x8.8x
Thu, 24 Jul 2025₹10.0t₹1.0t₹206.2b35.1x48.3x9.8x
Sat, 21 Jun 2025₹9.9t₹985.5b₹205.9b34.7x48.3x10.1x
Mon, 19 May 2025₹9.0t₹975.9b₹193.4b34.7x46.7x9.3x
Wed, 16 Apr 2025₹8.5t₹1.1t₹220.1b33.5x38.5x7.9x
Fri, 14 Mar 2025₹8.1t₹1.1t₹220.2b32x36.7x7.5x
Sun, 09 Feb 2025₹9.3t₹1.1t₹228.7b31.8x40.9x8.7x
Tue, 07 Jan 2025₹10.1t₹1.0t₹214.4b37.3x46.9x9.8x
Thu, 05 Dec 2024₹10.4t₹1.0t₹214.5b34.6x48.6x10.1x
Sat, 02 Nov 2024₹9.9t₹1.0t₹227.0b30.9x43.8x9.8x
Mon, 30 Sep 2024₹10.7t₹978.2b₹205.1b32.5x52x10.9x
Wed, 28 Aug 2024₹10.0t₹971.3b₹203.5b30.8x49x10.3x
Fri, 26 Jul 2024₹9.9t₹837.4b₹168.3b33.1x59x11.9x
Sun, 23 Jun 2024₹10.2t₹832.2b₹165.8b32.9x61.8x12.3x
Tue, 21 May 2024₹9.3t₹804.6b₹152.3b32.8x60.8x11.5x
Thu, 18 Apr 2024₹8.6t₹749.0b₹132.3b32.6x64.9x11.5x
Sat, 16 Mar 2024₹7.8t₹750.1b₹132.5b30x58.6x10.3x
Mon, 12 Feb 2024₹8.1t₹744.3b₹129.3b41.2x62.8x10.9x
Wed, 10 Jan 2024₹7.9t₹732.8b₹116.5b33.4x67.8x10.8x
Fri, 08 Dec 2023₹6.8t₹730.1b₹116.4b30.2x58.5x9.3x
Sun, 05 Nov 2023₹6.0t₹677.0b₹104.1b30.7x57.6x8.9x
Tue, 03 Oct 2023₹5.5t₹672.5b₹88.7b30.1x61.9x8.2x
Thu, 31 Aug 2023₹5.3t₹676.1b₹68.7b30.6x76.7x7.8x
Sat, 29 Jul 2023₹5.4t₹665.2b₹77.5b30.2x70.3x8.2x
Mon, 26 Jun 2023₹5.0t₹659.5b₹85.0b30.5x58.6x7.5x
Wed, 24 May 2023₹4.7t₹676.3b₹106.6b25.3x43.8x6.9x
Fri, 21 Apr 2023₹4.3t₹651.9b₹103.0b23.5x41.4x6.5x
Price to Earnings Ratio

41.4x


Total Market Cap: ₹4.3tTotal Earnings: ₹103.0bTotal Revenue: ₹651.9bTotal 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 39.5x 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 7.0x.
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 Market4.97%
Real Estate7.91%
Real Estate9.39%
Office REITs2.79%
Retail REITs2.06%
Industrial REITs1.61%
REITS0%0
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 52.8x.
    • Analysts are expecting annual earnings growth of 26.6%, which is lower than the prior year's growth of 58.9% 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 17% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 19% 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₹820.7014.4%
+₹103.0b		-32.4%PE24.5x
DLF DLF₹568.406.4%
+₹84.9b		-14.2%PE31.8x
503100 Phoenix Mills₹1.75k9.6%
+₹54.6b		12.6%PE57.4x
OBEROIRLTY Oberoi Realty₹1.69k8.0%
+₹45.4b		3.7%PE27.4x
PRESTIGE Prestige Estates Projects₹1.30k6.7%
+₹35.5b		8.8%PE57.9x

Latest News

DLF
₹568.40
DLF
7D
6.4%
1Y
-14.2%

DLF: Upcoming Results And Margin Outlook Will Support Bullish Long Term View

Analysts have trimmed the price target on DLF to ₹829.76 from ₹861.50, reflecting updated assumptions that combine slightly lower revenue growth and P/E with a higher profit margin outlook and a largely unchanged discount rate. What's in the News DLF has scheduled a board meeting on Jan 22, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
LODHA
₹820.70
Lodha Developers
7D
14.4%
1Y
-32.4%
500040
₹1,364.75
Aditya Birla Real Estate
7D
15.3%
1Y
-26.4%

500040: CFO Transition And Margin Outlook Will Support Future Returns

Analysts have trimmed their price target on Aditya Birla Real Estate from about ₹2,043 to approximately ₹1,899, reflecting updated assumptions around revenue growth, profit margins and the future P/E multiple. What's in the News Retirement of Chief Financial Officer and Key Managerial Personnel Mr. Snehal Shah is scheduled for the close of business hours on February 28, 2026, marking a planned leadership transition in the finance function (Key Developments).
EMBASSY
₹447.96
Embassy Office Parks REIT
7D
4.2%
1Y
20.5%

EMBASSY: Planned Debt Issues And Acquisitions Will Support Future Distributions

Analysts have trimmed their price target for Embassy Office Parks REIT slightly from ₹484.47 to ₹483.12. This reflects updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations.
503100
₹1,747.60
Phoenix Mills
7D
9.6%
1Y
12.6%

503100: Upcoming Results Meeting Will Support Confidence In Measured Future Upside

Analysts have adjusted Phoenix Mills' fair value estimate slightly lower from ₹1,959.37 to ₹1,945.37, reflecting modest tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E. What's in the News Phoenix Mills has scheduled a board meeting on Jan 28, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
532313
₹337.45
Mahindra Lifespace Developers
7D
-2.2%
1Y
7.6%

532313: Redevelopment Pipeline And New Projects Will Shape Balanced Medium Term Outlook

Analysts have revised their price target on Mahindra Lifespace Developers from ₹433 to ₹336, citing updated assumptions for revenue growth, profit margins and future P/E levels as key drivers of this change. What's in the News Board meeting scheduled for Apr 28, 2026 to review and approve audited standalone and consolidated financial statements for Q4 and FY 2025-26, consider a final dividend on equity shares, and address matters related to the upcoming Annual General Meeting.
OBEROIRLTY
₹1,685.20
Oberoi Realty
7D
8.0%
1Y
3.7%

OBEROIRLTY: Efficient Margins And Project Execution Will Support Future Upside

Analysts have made a slight trim to the Oberoi Realty price target to about ₹2,200, reflecting updated assumptions around revenue growth, profit margins and future P/E multiples, while still seeing the stock supported by more efficient profitability expectations. Analyst Commentary Even with a slightly lower price target around ₹2,200, bullish analysts see room for Oberoi Realty to execute on its current project pipeline and support valuations that are linked to more efficient profitability assumptions.
PRESTIGE
₹1,304.50
Prestige Estates Projects
7D
6.7%
1Y
8.8%
523007
₹95.81
Ansal Buildwell
7D
-9.6%
1Y
-15.0%
GODREJPROP
₹1,706.80
Godrej Properties
7D
6.3%
1Y
-15.3%

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.
531080
₹35.66
Shri Krishna Devcon
7D
-7.6%
1Y
-0.7%
531771
₹163.15
Shraddha Prime Projects
7D
-1.4%
1Y
0.9%
SUMIT
₹46.87
Sumit Woods
7D
-4.6%
1Y
-51.1%
535621
₹141.50
S V Global Mill
7D
-6.0%
1Y
-8.5%
543376
₹80.30
Samor Reality
7D
-6.7%
1Y
5.6%
543543
₹968.00
B-Right Realestate
7D
-4.0%
1Y
160.0%