Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Real Estate Investment Trusts Stocks in India

Real Estate Investment Trusts: Embassy Office Parks REIT owns the largest revenue base; Brookfield India Real Estate Trust has the fastest current growth.

01 · the index people search for

Nifty Real Estate Investment Trusts Index — Constituents & Performance

The Real Estate Investment Trusts companies below are the listed Indian Real Estate Investment Trusts universe this page tracks — the same constituent set people search for as the Nifty Real Estate Investment Trusts index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has Real Estate Investment Trusts moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 23% ahead of NIFTY 500. Earnings across its companies grew 10% on average over the last four reported quarters.

TURNING · ahead 3w~Price and the fundamentals both up1 of 4 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑3w · 4/4 >200d (+0) · 1/4 lead (+1) · EPS 2/4↑

20030020262025202420232022 296333 TRAILING 12-MONTH EPS · 100 AT THE START0100204Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingDec 2023 · trailing 12-month earnings per share at 106, against 100 at the start · no comparable year yet · 3 reportingMar 2024 · trailing 12-month earnings per share at 124, against 100 at the start · no comparable year yet · 4 reportingJun 2024 · trailing 12-month earnings per share at 144, against 100 at the start · no comparable year yet · 4 reportingSep 2024 · trailing 12-month earnings per share at 197, against 100 at the start · up 149.5% on a year ago · 4 reportingDec 2024 · trailing 12-month earnings per share at 204, against 100 at the start · up 200.0% on a year ago · 4 reportingMar 2025 · trailing 12-month earnings per share at 192, against 100 at the start · down 9.7% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 194, against 100 at the start · up 35.4% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 109, against 100 at the start · down 4.5% on a year ago · 4 reportingDec 2025 · trailing 12-month earnings per share at 116, against 100 at the start · up 0.7% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 121, against 100 at the start · up 7.4% on a year ago · 4 reportingNot reported yet — earnings trail price by a quarter or two121 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20030020262025202420232022 296333 TRAILING 12-MONTH EPS · 100 AT THE START0100204Mar 24Mar 25Mar 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingDec 2023 · trailing 12-month earnings per share at 106, against 100 at the start · no comparable year yet · 3 reportingMar 2024 · trailing 12-month earnings per share at 124, against 100 at the start · no comparable year yet · 4 reportingJun 2024 · trailing 12-month earnings per share at 144, against 100 at the start · no comparable year yet · 4 reportingSep 2024 · trailing 12-month earnings per share at 197, against 100 at the start · up 149.5% on a year ago · 4 reportingDec 2024 · trailing 12-month earnings per share at 204, against 100 at the start · up 200.0% on a year ago · 4 reportingMar 2025 · trailing 12-month earnings per share at 192, against 100 at the start · down 9.7% on a year ago · 4 reportingJun 2025 · trailing 12-month earnings per share at 194, against 100 at the start · up 35.4% on a year ago · 4 reportingSep 2025 · trailing 12-month earnings per share at 109, against 100 at the start · down 4.5% on a year ago · 4 reportingDec 2025 · trailing 12-month earnings per share at 116, against 100 at the start · up 0.7% on a year ago · 4 reportingMar 2026 · trailing 12-month earnings per share at 121, against 100 at the start · up 7.4% on a year ago · 4 reportingNot reported yet — earnings trail price by a quarter or two121No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Real Estate Investment Trusts, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Real Estate Investment Trusts outperforming NIFTY 500?

Real Estate Investment Trusts has outperformed NIFTY 500 by 9.6% over the last 52 weeks. Over 13 weeks the gap is a lead of 3.7%. 4 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Mindspace Business Parks REIT is the strongest against the sector itself at +1.5%.

+3.7%Sector vs NIFTY 500 · 13 weeks
+9.6%Sector vs NIFTY 500 · 52 weeks
4/4Stocks leading NIFTY 500
2/4Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Real Estate Investment Trusts has outperformed NIFTY 500 by 9.6% over 52 weeks and 3.7% over 13 weeks. 4 of 4 covered companies beat NIFTY on Mansfield relative strength, while 2 of 4 beat the sector itself. Embassy Office Parks REIT leads with income of ₹4,763 crore, based on 4 of 4 comparable companies through Jun 2026.

Companies
4
complete canonical membership
Combined market value
₹1.3 L Cr
Embassy Office Parks REIT
Revenue growing
4/4
positive TTM year-on-year growth
Beating NIFTY 500
4/4
positive Mansfield relative strength
Comparing 4 of 4
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Mindspace Business Parks REIT has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 72.9% evidence confidence.
Nexus Select Trust has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Mindspace Business Parks REITMINDSPACE 55.7/100Mixed-positive evidence73% evidence TURNING 25.4/35 Income 23.4% · PAT 35.2% 45% evidence 14.1/25 ROA 4.3% · ROE 4.7% · GNPA — 68% evidence 3.2/20 P/BV 2.12× · P/BV÷ROE 0.46 100% evidence 13.0/20 RS sector 1.5% · RS bench 4.1% · 1Y 17.5%0 of 12 weeks ahead 100% evidence
Exact sum: 25.4 + 14.1 + 3.2 + 13 = 55.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Brookfield India Real Estate TrustBIRET 52.3/100Mixed-positive evidence67% evidence BREAKING OUT 25.4/35 Income 24.5% · PAT 100% 45% evidence 14.1/25 ROA 3.3% · ROE 2.8% · GNPA — 68% evidence 3.8/20 P/BV 1.31× · P/BV÷ROE 0.48 70% evidence 9.0/20 RS sector -2% · RS bench 0.6% · 1Y 8.4%0 of 12 weeks ahead 100% evidence
Exact sum: 25.4 + 14.1 + 3.8 + 9 = 52.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Nexus Select TrustNXST 39.2/100Mixed-negative evidence64% evidence BREAKING OUT 14.2/35 Income 12.4% · PAT -16.6% 45% evidence 9.8/25 ROA — · ROE 2.7% · GNPA — 34% evidence 1.4/20 P/BV 1.92× · P/BV÷ROE 0.71 100% evidence 13.8/20 RS sector 1% · RS bench 3.7% · 1Y 12.1%2 of 12 weeks ahead 100% evidence
Exact sum: 14.2 + 9.8 + 1.4 + 13.8 = 39.2 · Decision use: Price leads the evidence: RS versus the benchmark is 3.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4Embassy Office Parks REITEMBASSY 33.2/100Adverse evidence67% evidence TURNING 14.5/35 Income 14.4% · PAT -76.4% 52% evidence 9.5/25 ROA — · ROE 1.3% · GNPA — 34% evidence 1.0/20 P/BV 2× · P/BV÷ROE 1.59 100% evidence 8.2/20 RS sector -1.6% · RS bench 1% · 1Y 9.1%0 of 12 weeks ahead 100% evidence
Exact sum: 14.5 + 9.5 + 1 + 8.2 = 33.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
05 · what price has already done

Market action

Mindspace Business Parks REIT has the strongest one-year price move in Real Estate Investment Trusts at +17.5%. It also leads on Mansfield relative strength against NIFTY at +4.1%. 4 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Income Scale & Growth Durability

Embassy Office Parks REIT has the highest Income among the 4 Real Estate Investment Trusts companies compared here, at ₹4,763 crore. Mindspace Business Parks REIT is next at ₹3,216 crore. Brookfield India Real Estate Trust has the highest Income growth at 24.5%, so level and change sit with different companies.

What the numbers say: Embassy Office Parks REIT is the scale leader at ₹4,763 crore, 48.1% ahead of Mindspace Business Parks REIT. Brookfield India Real Estate Trust's growth is 24.5% from a ₹2,970 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderEmbassy Office Parks REIT · ₹4,763 crore
Gap48.1% versus #2 · Mindspace Business Parks REIT
Persistence8/8 recent comparable periods
Coverage4/4 companies · 56 observations

Investor read: Embassy Office Parks REIT is the scale benchmark; Brookfield India Real Estate Trust is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Embassy Office Parks REIT's growth falls below Brookfield India Real Estate Trust's for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.
Incomelargest
1Embassy Office Parks REIT EMBASSY₹4.8K Cr
2Mindspace Business Parks REIT MINDSPACE₹3.2K Cr
3Brookfield India Real Estate Trust BIRET₹3.0K Cr
4Nexus Select Trust NXST₹2.6K Cr
Income growthfastest growers
1Brookfield India Real Estate Trust BIRET25%
2Mindspace Business Parks REIT MINDSPACE23%
3Embassy Office Parks REIT EMBASSY14%
4Nexus Select Trust NXST12%
Income · company comparison
4/4 level · 4/4 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyIncomeIncome growthReported
Embassy Office Parks REIT EMBASSY₹1.2K Cr17%Jun 2026
Brookfield India Real Estate Trust BIRET₹960 Cr55%Mar 2026
Mindspace Business Parks REIT MINDSPACE₹890 Cr31%Mar 2026
Nexus Select Trust NXST₹652 Cr12%Mar 2026
Full 20-quarter history · every available company

Income · reported quarter history

Brookfield India Real Estate Trust · BIRET

—
—
—
—
—
₹300 Cr
₹302 Cr
₹314 Cr
₹400 Cr
₹531 Cr
₹547 Cr
₹574 Cr
₹590 Cr
₹602 Cr
₹620 Cr
₹642 Cr
₹671 Cr
₹697 Cr
₹960 Cr
—

Embassy Office Parks REIT · EMBASSY

—
—
—
—
—
₹893 Cr
₹895 Cr
₹943 Cr
₹926 Cr
₹966 Cr
₹981 Cr
₹934 Cr
₹997 Cr
₹1.0K Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr

Mindspace Business Parks REIT · MINDSPACE

—
—
—
—
—
₹559 Cr
₹570 Cr
₹593 Cr
₹638 Cr
₹608 Cr
₹620 Cr
₹628 Cr
₹649 Cr
₹649 Cr
₹681 Cr
₹740 Cr
₹772 Cr
₹814 Cr
₹890 Cr
—

Nexus Select Trust · NXST

—
—
—
—
—
—
₹0 Cr
₹287 Cr
₹541 Cr
₹571 Cr
₹542 Cr
₹554 Cr
₹557 Cr
₹594 Cr
₹580 Cr
₹614 Cr
₹631 Cr
₹671 Cr
₹652 Cr
—

Income growth · reported quarter history

Brookfield India Real Estate Trust · BIRET

—
—
—
—
—
—
—
—
—
77%
81%
83%
48%
13%
13%
12%
14%
16%
55%
—

Embassy Office Parks REIT · EMBASSY

—
—
—
—
—
—
—
—
—
8.2%
9.6%
-1.0%
7.7%
5.8%
11%
13%
13%
17%
11%
17%

Mindspace Business Parks REIT · MINDSPACE

—
—
—
—
—
—
—
—
—
8.8%
8.8%
5.9%
1.7%
6.7%
9.8%
18%
19%
25%
31%
—

Nexus Select Trust · NXST

—
—
—
—
—
—
—
—
—
—
—
93%
3.0%
4.0%
7.0%
11%
13%
13%
12%
—
07 · compare level, then change

Profit Scale & Acceleration

Mindspace Business Parks REIT has the highest Net profit among the 4 Real Estate Investment Trusts companies compared here, at ₹695 crore. Brookfield India Real Estate Trust is next at ₹536 crore. Brookfield India Real Estate Trust has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Mindspace Business Parks REIT leads with ₹695 crore of TTM profit, 29.7% above Brookfield India Real Estate Trust. Brookfield India Real Estate Trust shows ≥100% on the scoring scale (226.8% uncapped) growth from a ₹536 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderMindspace Business Parks REIT · ₹695 crore
Gap29.7% versus #2 · Brookfield India Real Estate Trust
Persistence4/8 recent comparable periods
Coverage4/4 companies · 56 observations

Investor read: Mindspace Business Parks REIT sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.
Net profitlargest
1Mindspace Business Parks REIT MINDSPACE₹695 Cr
2Brookfield India Real Estate Trust BIRET₹536 Cr
3Nexus Select Trust NXST₹403 Cr
4Embassy Office Parks REIT EMBASSY₹378 Cr
Profit growthfastest growers
1Brookfield India Real Estate Trust BIRET100%
2Mindspace Business Parks REIT MINDSPACE35%
3Nexus Select Trust NXST-17%
4Embassy Office Parks REIT EMBASSY-76%
Net profit · company comparison
4/4 level · 4/4 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Mindspace Business Parks REIT MINDSPACE₹209 Cr118%Mar 2026
Embassy Office Parks REIT EMBASSY₹195 Cr26%Jun 2026
Brookfield India Real Estate Trust BIRET₹54 Cr-32%Mar 2026
Nexus Select Trust NXST₹12 Cr-89%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Brookfield India Real Estate Trust · BIRET

—
—
—
—
—
₹25 Cr
₹33 Cr
₹-27 Cr
₹2 Cr
₹17 Cr
₹2 Cr
₹39 Cr
₹23 Cr
₹23 Cr
₹79 Cr
₹132 Cr
₹149 Cr
₹201 Cr
₹54 Cr
—

Embassy Office Parks REIT · EMBASSY

—
—
—
—
—
₹163 Cr
₹35 Cr
₹234 Cr
₹217 Cr
₹230 Cr
₹283 Cr
₹179 Cr
₹1.5K Cr
₹158 Cr
₹-243 Cr
₹155 Cr
₹232 Cr
₹381 Cr
₹-430 Cr
₹195 Cr

Mindspace Business Parks REIT · MINDSPACE

—
—
—
—
—
₹126 Cr
₹-34 Cr
₹137 Cr
₹150 Cr
₹147 Cr
₹127 Cr
₹138 Cr
₹135 Cr
₹145 Cr
₹96 Cr
₹167 Cr
₹127 Cr
₹192 Cr
₹209 Cr
—

Nexus Select Trust · NXST

—
—
—
—
—
—
₹-3 Cr
₹94 Cr
₹251 Cr
₹107 Cr
₹146 Cr
₹140 Cr
₹110 Cr
₹119 Cr
₹114 Cr
₹120 Cr
₹132 Cr
₹139 Cr
₹12 Cr
—

Profit growth · reported quarter history

Brookfield India Real Estate Trust · BIRET

—
—
—
—
—
—
—
—
—
-32%
-94%
—
1,050%
35%
3,850%
238%
548%
774%
-32%
—

Embassy Office Parks REIT · EMBASSY

—
—
—
—
—
—
—
—
—
41%
709%
-24%
605%
-31%
-186%
-13%
-85%
141%
—
26%

Mindspace Business Parks REIT · MINDSPACE

—
—
—
—
—
—
—
—
—
17%
—
0.7%
-10%
-1.4%
-24%
21%
-5.9%
32%
118%
—

Nexus Select Trust · NXST

—
—
—
—
—
—
—
—
—
—
—
49%
-56%
11%
-22%
-14%
20%
17%
-89%
—
08 · compare level, then change

Funding Base & Its Composition

No company in this Real Estate Investment Trusts comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, Embassy Office Parks REIT is highest at ₹22,535 crore, across 4 of 4 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/4 companies · 0 observations

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.
Depositslargest deposit bases
—Not enough comparable data—
Borrowingslargest borrowings
1Embassy Office Parks REIT EMBASSY₹22.5K Cr
2Brookfield India Real Estate Trust BIRET₹16.6K Cr
3Mindspace Business Parks REIT MINDSPACE₹13.0K Cr
4Nexus Select Trust NXST₹6.2K Cr
Funding base · company comparison
0/4 level · 4/4 change
All-company data · latest reported quarter
CompanyDepositsBorrowingsReported
Embassy Office Parks REIT EMBASSY—₹22.5K CrJun 2026
Mindspace Business Parks REIT MINDSPACE—₹13.0K CrMar 2026
Brookfield India Real Estate Trust BIRET—₹16.6K CrMar 2026
Nexus Select Trust NXST—₹6.2K CrMar 2026
Full 20-quarter history · every available company

No consistent historical series is available for deposits.

Borrowings · reported quarter history

Brookfield India Real Estate Trust · BIRET

—
—
—
₹2.1K Cr
₹5.2K Cr
—
₹5.5K Cr
—
—
—
₹12.1K Cr
—
—
—
₹9.1K Cr
—
₹9.1K Cr
—
₹16.6K Cr
—

Embassy Office Parks REIT · EMBASSY

—
₹7.8K Cr
₹5.7K Cr
₹10.7K Cr
₹12.1K Cr
—
₹14.8K Cr
—
—
—
₹17.0K Cr
—
—
—
₹20.0K Cr
—
₹21.1K Cr
—
₹22.5K Cr
—

Mindspace Business Parks REIT · MINDSPACE

₹2.4K Cr
₹6.2K Cr
₹0 Cr
₹3.8K Cr
₹4.5K Cr
—
₹5.5K Cr
—
—
—
₹7.0K Cr
—
—
—
₹10.1K Cr
—
₹11.3K Cr
—
₹13.0K Cr
—

Nexus Select Trust · NXST

—
—
—
—
—
—
₹0 Cr
—
—
—
₹4.3K Cr
—
—
—
₹5.3K Cr
—
₹5.8K Cr
—
₹6.2K Cr
—
09 · compare level, then change

Return On Assets

Mindspace Business Parks REIT has the highest ROA among the 4 Real Estate Investment Trusts companies compared here, at 4.3%. Brookfield India Real Estate Trust is next at 3.3%. 2 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Mindspace Business Parks REIT leads roa at 4.3%; the second comparison lacks enough current evidence.

LeaderMindspace Business Parks REIT · 4.3%
Gap30.1% versus #2 · Brookfield India Real Estate Trust
PersistenceNot enough history
Coverage2/4 companies · 0 observations

Investor read: Mindspace Business Parks REIT sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.
ROAhighest
1Mindspace Business Parks REIT MINDSPACE4.3%
2Brookfield India Real Estate Trust BIRET3.3%
ROA changefastest improvers
—Not enough comparable data—
Return on assets · company comparison
2/4 level · 0/4 change

Withheld from this chart: Embassy Office Parks REIT (EMBASSY) — its two data sources disagree by up to 106% on reported income across 14 comparable periods, so its derived ratios are withheld; Mindspace Business Parks REIT (MINDSPACE) — its two data sources disagree by up to 13% on reported income across 14 comparable periods, so its derived ratios are withheld; Brookfield India Real Estate Trust (BIRET) — its two data sources disagree by up to 300% on reported income across 14 comparable periods, so its derived ratios are withheld; Nexus Select Trust (NXST) — its two data sources disagree by up to 8,598% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROAROA changeReported
Mindspace Business Parks REIT MINDSPACE4.3%—Mar 2026
Brookfield India Real Estate Trust BIRET3.3%—Mar 2026
Full 20-quarter history · every available company

No consistent historical series is available for roa.

No consistent historical series is available for roa change.

10 · compare level, then change

ROE — Leaders & Improvers

Mindspace Business Parks REIT has the highest ROE among the 4 Real Estate Investment Trusts companies compared here, at 4.7%. Brookfield India Real Estate Trust is next at 2.8%. 4 of 4 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Mindspace Business Parks REIT leads roe at 4.7%; the second comparison lacks enough current evidence.

LeaderMindspace Business Parks REIT · 4.7%
Gap69.1% versus #2 · Brookfield India Real Estate Trust
PersistenceNot enough history
Coverage4/4 companies · 0 observations

Investor read: Mindspace Business Parks REIT sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.
ROEhighest
1Mindspace Business Parks REIT MINDSPACE4.7%
2Brookfield India Real Estate Trust BIRET2.8%
3Nexus Select Trust NXST2.7%
4Embassy Office Parks REIT EMBASSY1.3%
ROE changefastest improvers
—Not enough comparable data—
Return on equity · company comparison
4/4 level · 0/4 change

Withheld from this chart: Embassy Office Parks REIT (EMBASSY) — its two data sources disagree by up to 106% on reported income across 14 comparable periods, so its derived ratios are withheld; Mindspace Business Parks REIT (MINDSPACE) — its two data sources disagree by up to 13% on reported income across 14 comparable periods, so its derived ratios are withheld; Brookfield India Real Estate Trust (BIRET) — its two data sources disagree by up to 300% on reported income across 14 comparable periods, so its derived ratios are withheld; Nexus Select Trust (NXST) — its two data sources disagree by up to 8,598% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROEROE changeReported
Mindspace Business Parks REIT MINDSPACE4.7%—Mar 2026
Brookfield India Real Estate Trust BIRET2.8%—Mar 2026
Nexus Select Trust NXST2.7%—Mar 2026
Embassy Office Parks REIT EMBASSY1.3%—Jun 2026
Full 20-quarter history · every available company

No consistent historical series is available for roe.

No consistent historical series is available for roe change.

11 · not available

Gross NPA — Leaders & Improvers

No company in this Real Estate Investment Trusts comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 4 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

Withheld from this comparison: Embassy Office Parks REIT (EMBASSY) — its two data sources disagree by up to 106% on reported income across 14 comparable periods, so its derived ratios are withheld; Mindspace Business Parks REIT (MINDSPACE) — its two data sources disagree by up to 13% on reported income across 14 comparable periods, so its derived ratios are withheld; Brookfield India Real Estate Trust (BIRET) — its two data sources disagree by up to 300% on reported income across 14 comparable periods, so its derived ratios are withheld; Nexus Select Trust (NXST) — its two data sources disagree by up to 8,598% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

12 · compare level, then change

Valuation Against Growth & Quality

Mindspace Business Parks REIT has the lowest P/BV ÷ ROE among the 4 Real Estate Investment Trusts companies compared here, at 0.46×. Brookfield India Real Estate Trust is next at 0.48×. Brookfield India Real Estate Trust has the lowest P/BV at 1.31×, so level and change sit with different companies.

What the numbers say: Mindspace Business Parks REIT has the lowest comparable P/BV ÷ ROE at 0.46×, 4.2% below Brookfield India Real Estate Trust. Only 4 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderMindspace Business Parks REIT · 0.46×
Gap4.2% versus #2 · Brookfield India Real Estate Trust
Persistence0/8 recent comparable periods
Coverage4/4 companies · 0 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.
P/BV ÷ ROElowest return-adjusted price
1Mindspace Business Parks REIT MINDSPACE0.5
2Brookfield India Real Estate Trust BIRET0.5
3Nexus Select Trust NXST0.7
4Embassy Office Parks REIT EMBASSY1.6
P/BVlowest P/BV
1Brookfield India Real Estate Trust BIRET1.3
2Nexus Select Trust NXST1.9
3Embassy Office Parks REIT EMBASSY2.0
4Mindspace Business Parks REIT MINDSPACE2.1
Valuation · company comparison
4/4 level · 4/4 change
All-company data · latest reported quarter
CompanyP/BV ÷ ROEP/BVReported
Embassy Office Parks REIT EMBASSY1.61.8Jun 2026
Nexus Select Trust NXST0.71.7Mar 2026
Brookfield India Real Estate Trust BIRET0.51.7Mar 2026
Mindspace Business Parks REIT MINDSPACE0.52.0Mar 2026
Full 20-quarter history · every available company

No consistent historical series is available for p/bv ÷ roe.

P/BV · reported quarter history

Brookfield India Real Estate Trust · BIRET

—
—
—
—
1.1
1.1
1.1
1.1
1.0
1.0
1.1
0.8
1.2
1.2
1.2
0.9
1.4
1.5
1.7
—

Embassy Office Parks REIT · EMBASSY

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—
—
1.1
1.3
1.3
1.1
1.1
1.2
1.3
1.5
1.4
1.6
1.5
1.5
1.6
1.7
1.9
1.8
1.8

Mindspace Business Parks REIT · MINDSPACE

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—
—
1.1
1.3
1.3
1.2
1.2
1.3
1.3
1.4
1.4
1.5
1.6
1.6
1.8
2.0
2.1
2.0
—

Nexus Select Trust · NXST

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—
—
—
—
—
—
—
1.2
1.3
1.2
1.4
1.5
1.4
1.4
1.4
1.8
1.7
1.7
—
13 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Real Estate Investment Trusts comparison names 7 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 4 have second-feed figures withheld because the two sources disagree. 3 of the 7 ranked sections have fewer than three usable current readings.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
  • 4 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Funding base, Return on assets, Asset quality have fewer than three usable current readings.
14 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 4 Real Estate Investment Trusts companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing0 cross-checked · 0 unverified · 4 withheld, of 4 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

15 · questions investors ask, short speakable answers

Real Estate Investment Trusts company comparison FAQs

These 22 answers restate the Real Estate Investment Trusts comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Real Estate Investment Trusts sector outperforming NIFTY 500?

Real Estate Investment Trusts has outperformed NIFTY 500 by 9.6% over 52 weeks and 3.7% over 13 weeks. 4 of 4 covered companies beat NIFTY on Mansfield relative strength, while 2 of 4 beat the sector itself.

Which Real Estate Investment Trusts company is largest by income?

Embassy Office Parks REIT leads with income of ₹4,763 crore, based on 4 of 4 comparable companies through Jun 2026.

Which Real Estate Investment Trusts company is growing fastest?

Brookfield India Real Estate Trust has the fastest current income growth at 24.5%, across 4 of 4 comparable companies.

Which Real Estate Investment Trusts company has the strongest 4-Factor Sector Score?

Mindspace Business Parks REIT ranks first at 55.7/100 with 72.9% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Real Estate Investment Trusts company has the lowest comparable P/BV-to-ROE?

Mindspace Business Parks REIT has the lowest comparable P/BV ÷ ROE at 0.46, among 4 of 4 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Real Estate Investment Trusts comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty Real Estate Investment Trusts index?

The Nifty Real Estate Investment Trusts index tracks India's listed Real Estate Investment Trusts companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Real Estate Investment Trusts sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Real Estate Investment Trusts stocks in India?

Ranked by this page's four-factor score, Mindspace Business Parks REIT places first among 4 listed Real Estate Investment Trusts companies, followed by Brookfield India Real Estate Trust. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Real Estate Investment Trusts stocks are listed in India?

This comparison covers 4 listed Real Estate Investment Trusts companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Real Estate Investment Trusts company is the biggest?

Embassy Office Parks REIT is the largest, with trailing-twelve-month income of ₹4,763 crore, ahead of Mindspace Business Parks REIT at ₹3,216 crore. That covers 4 of 4 companies with comparable reporting through Jun 2026.

Which Real Estate Investment Trusts company makes the most profit?

Mindspace Business Parks REIT earns the most, at ₹695 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Brookfield India Real Estate Trust has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Real Estate Investment Trusts company earns the highest return on capital?

Mindspace Business Parks REIT leads on return on assets at 4.3%, across 2 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Real Estate Investment Trusts stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Mindspace Business Parks REIT screens cheapest at 0.46×. Only 4 of 4 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Real Estate Investment Trusts sector beating the market?

Real Estate Investment Trusts has outperformed NIFTY 500 by 9.6% over the last 52 weeks and 3.7% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 4 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Real Estate Investment Trusts stock has the strongest price momentum?

Mindspace Business Parks REIT has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Real Estate Investment Trusts company scores highest for research priority?

Mindspace Business Parks REIT scores 55.7 out of 100 with 72.9% evidence confidence, from 25.4 points on growth and earnings, 14.1 on capital efficiency, 3.2 on valuation and 13 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Real Estate Investment Trusts companies does this comparison cover, and over what period?

It compares 4 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Real Estate Investment Trusts sector?

The 4 Real Estate Investment Trusts companies on this page carry ₹1,27,720 crore of combined market value. Embassy Office Parks REIT is the largest at ₹41,517 crore, about 33% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

How is the Real Estate Investment Trusts sector performing?

4 of the 4 covered Real Estate Investment Trusts companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 9.6% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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