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Indian (NIFTY) Real Estate Sector Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies201
  • 7D5.3%
  • 3M-12.7%
  • 1Y-13.0%
  • YTD-6.2%

The Real Estate industry is up 5.3% in the last week, with Lodha Developers up 14%. In contrast, the industry has lost 13% in the last 12 months. Earnings are forecast to grow by 30% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Feb 2026₹9.4t₹1.2t₹215.4b26.9x43.5x7.6x
Fri, 02 Jan 2026₹10.0t₹1.2t₹207.9b29.5x48.3x8.4x
Sun, 30 Nov 2025₹10.0t₹1.2t₹210.4b29.9x47.6x8.4x
Tue, 28 Oct 2025₹10.4t₹1.1t₹218.5b35.6x47.5x9x
Thu, 25 Sep 2025₹9.9t₹1.1t₹214.2b38x46.1x8.8x
Sat, 23 Aug 2025₹9.4t₹1.1t₹212.8b35.5x44.4x8.8x
Mon, 21 Jul 2025₹10.2t₹1.0t₹208.0b35.4x49x10x
Wed, 18 Jun 2025₹9.9t₹985.5b₹208.3b34.9x47.7x10.1x
Fri, 16 May 2025₹8.9t₹1.1t₹211.4b34.9x42.3x8.3x
Sun, 13 Apr 2025₹8.1t₹1.1t₹220.1b33.8x36.8x7.5x
Tue, 11 Mar 2025₹8.1t₹1.1t₹220.2b33.1x36.8x7.5x
Thu, 06 Feb 2025₹9.5t₹1.1t₹229.0b31.5x41.4x8.9x
Sat, 04 Jan 2025₹10.4t₹1.0t₹214.4b36.5x48.3x10.1x
Mon, 02 Dec 2024₹10.0t₹1.0t₹214.5b33.6x46.5x9.7x
Wed, 30 Oct 2024₹9.8t₹1.0t₹234.2b30.1x41.9x9.7x
Fri, 27 Sep 2024₹10.8t₹978.2b₹205.1b33.3x52.6x11x
Sun, 25 Aug 2024₹9.8t₹971.3b₹203.5b30.3x48.4x10.1x
Tue, 23 Jul 2024₹10.0t₹836.6b₹168.2b31.8x59.6x12x
Thu, 20 Jun 2024₹10.1t₹829.2b₹165.5b32x61x12.2x
Sat, 18 May 2024₹9.0t₹782.4b₹146.3b31.4x61.4x11.5x
Mon, 15 Apr 2024₹8.7t₹749.0b₹132.3b32.6x65.9x11.6x
Wed, 13 Mar 2024₹8.1t₹750.1b₹132.5b30.3x61.3x10.8x
Fri, 09 Feb 2024₹8.2t₹742.3b₹129.1b41.1x63.1x11x
Sun, 07 Jan 2024₹7.7t₹732.8b₹116.5b31.4x66.2x10.5x
Tue, 05 Dec 2023₹6.8t₹729.0b₹116.6b29.5x58.5x9.4x
Thu, 02 Nov 2023₹5.8t₹676.7b₹104.2b29.9x55.3x8.5x
Sat, 30 Sep 2023₹5.5t₹672.5b₹88.7b30.1x61.9x8.2x
Mon, 28 Aug 2023₹5.1t₹675.1b₹68.5b29.4x74.6x7.6x
Wed, 26 Jul 2023₹5.2t₹662.4b₹77.7b29.6x67.5x7.9x
Fri, 23 Jun 2023₹5.0t₹659.5b₹85.0b29.8x59.2x7.6x
Sun, 21 May 2023₹4.7t₹673.6b₹106.1b24.9x43.8x6.9x
Tue, 18 Apr 2023₹4.2t₹651.9b₹103.0b23.9x41.1x6.5x
Thu, 16 Mar 2023₹3.8t₹646.4b₹102.8b23.3x37.1x5.9x
Sat, 11 Feb 2023₹4.1t₹621.2b₹117.4b24x35x6.6x
Price to Earnings Ratio

35x


Total Market Cap: ₹4.1tTotal Earnings: ₹117.4bTotal Revenue: ₹621.2bTotal 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 43.5x 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 7.6x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 22% 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 Market3.02%
Real Estate5.27%
Real Estate6.82%
Industrial REITs0.87%
Retail REITs0.24%
REITS0%0
Office REITs-0.80%
Industry PE
  • Investors are most optimistic about the Office REITs industry which is trading above its 3-year average PE ratio of 50.9x.
    • Analysts are expecting annual earnings growth of 29.7%, 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 31% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings grow by 21% 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₹1.06k13.7%
+₹127.2b		-16.7%PE31.6x
DLF DLF₹659.855.5%
+₹84.9b		-13.6%PE36.9x
GODREJPROP Godrej Properties₹1.71k10.4%
+₹48.6b		-25.6%PE33.3x
PRESTIGE Prestige Estates Projects₹1.53k7.8%
+₹48.0b		11.2%PE68.1x
515055 Anant Raj₹555.1013.5%
+₹23.8b		-4.9%PE37.9x

Latest News

AWFIS
₹388.95
Awfis Space Solutions
7D
-3.6%
1Y
-44.2%
532929
₹794.45
Brigade Enterprises
7D
8.0%
1Y
-31.5%
LOTUSDEV
₹152.34
Sri Lotus Developers and Realty
7D
-3.2%
1Y
n/a
515055
₹555.10
Anant Raj
7D
13.5%
1Y
-4.9%
GODREJPROP
₹1,711.70
Godrej Properties
7D
10.4%
1Y
-25.6%

GODREJPROP: New Land Bank And Dubai Platform Will Support Stronger Future Potential

Analysts have trimmed their fair value estimate for Godrej Properties slightly, from ₹3,430.11 to ₹3,409.92, reflecting updated views on its discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News A board meeting is scheduled on 5 February 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 (company filing).
500040
₹1,220.20
Aditya Birla Real Estate
7D
-6.6%
1Y
-46.4%
PRESTIGE
₹1,533.50
Prestige Estates Projects
7D
7.8%
1Y
11.2%

Prestige Estates Projects Limited Beat Revenue Forecasts By 35%: Here's What Analysts Are Forecasting Next

Feb 01
Prestige Estates Projects Limited Beat Revenue Forecasts By 35%: Here's What Analysts Are Forecasting Next
DLF
₹659.85
DLF
7D
5.5%
1Y
-13.6%

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
₹1,166.90
Kesar India
7D
-4.3%
1Y
70.0%
513349
₹148.85
Ajmera Realty & Infra India
7D
-5.2%
1Y
-25.2%
LODHA
₹1,056.50
Lodha Developers
7D
13.7%
1Y
-16.7%
MINDSPACE
₹485.33
Mindspace Business Parks REIT
7D
-1.3%
1Y
29.5%
OBEROIRLTY
₹1,545.00
Oberoi Realty
7D
4.2%
1Y
-15.5%

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
₹1,719.00
Phoenix Mills
7D
-0.5%
1Y
1.3%

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
₹1,601.30
National Standard (India)
7D
-7.8%
1Y
-59.5%
533160
₹127.70
Valor Estate
7D
25.3%
1Y
-19.7%