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.

The 4 Real Estate Investment Trusts companies listed in India are Embassy Office Parks REIT (₹41.6K Cr, the largest), Mindspace Business Parks REIT, Brookfield India Real Estate Trust and 1 more. 4 of 4 covered companies beat NIFTY 500 on relative strength. Readings are as of 17 Sep 2026.

01 · the index people search for

Nifty Real Estate Investment Trusts Index — Constituents & Performance

All 4 listed Indian Real Estate Investment Trusts companies are named here, largest first — the same constituent set people search for as the Nifty Real Estate Investment Trusts index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.

Embassy Office Parks REIT₹41.6K Cr
Mindspace Business Parks REIT₹32.5K Cr
Brookfield India Real Estate Trust₹27.8K Cr
Nexus Select Trust₹25.3K Cr

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 28% ahead of NIFTY 500. Earnings across its companies grew 5% on average over the last four reported quarters — close to flat. It has been ahead of NIFTY 500 on a rolling three-month view for 9 weeks running.

BREAKING OUT · ahead 9w~Price up, without the fundamentals confirming3 of 4 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑9w · 3/4 >200d (−1) · 3/4 lead (+3) · EPS 2/4↑

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 14.5% over the last 52 weeks. Over 13 weeks the gap is a lead of 6.9%. 4 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Nexus Select Trust is the strongest against the sector itself at +1.5%.

+6.9%Sector vs NIFTY 500 · 13 weeks

+14.5%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 14.5% over 52 weeks and 6.9% 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

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 66.6% 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.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Mindspace Business Parks REITMINDSPACE	53.4/100Mixed-positive evidence67% evidence	BREAKING OUT	26.5/35 Income 25.9% · PAT 47.3% 52% evidence	9.8/25 ROA — · ROE 4.7% · GNPA — 34% evidence	3.2/20 P/BV 2.12× · P/BV÷ROE 0.46 100% evidence	13.9/20 RS sector 1.4% · RS bench 5% · 1Y 16.6%2 of 12 weeks ahead 100% evidence
Exact sum: 26.5 + 9.8 + 3.2 + 13.9 = 53.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Brookfield India Real Estate TrustBIRET	48.4/100Mixed-negative evidence61% evidence	BREAKING OUT	26.5/35 Income 34.6% · PAT 100% 52% evidence	9.8/25 ROA — · ROE 2.8% · GNPA — 34% evidence	3.8/20 P/BV 1.29× · P/BV÷ROE 0.47 70% evidence	8.3/20 RS sector -2.8% · RS bench 0.7% · 1Y 5.1%2 of 12 weeks ahead 100% evidence
Exact sum: 26.5 + 9.8 + 3.8 + 8.3 = 48.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Nexus Select TrustNXST	40.2/100Mixed-negative evidence67% evidence	BREAKING OUT	13.7/35 Income 12.4% · PAT -5% 52% 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	15.3/20 RS sector 1.5% · RS bench 5.2% · 1Y 14.4%3 of 12 weeks ahead 100% evidence
Exact sum: 13.7 + 9.8 + 1.4 + 15.3 = 40.2 · Decision use: Price leads the evidence: RS versus the benchmark is 5.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4Embassy Office Parks REITEMBASSY	33.7/100Adverse 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	8.7/20 RS sector -1% · RS bench 2.7% · 1Y 12.2%0 of 12 weeks ahead 100% evidence
Exact sum: 14.5 + 9.5 + 1 + 8.7 = 33.7 · 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 +16.6%. Nexus Select Trust leads on Mansfield relative strength against NIFTY at +5.2%. 4 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-09-11.

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 · the story behind the numbers

Real Estate Investment Trusts — the story behind the numbers

This is the written read behind the Real Estate Investment Trusts figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 17 Apr 2026, so the words are older than the numbers. 3 themes are live here.

The sector outlook remains positive, underpinned by 17% YoY revenue growth and 1.1 msf of new leasing in Q3. While rising interest costs and minor regulatory tax adjustments pose headwinds, the 19% YoY NOI growth and reaffirmed guidance suggest an upward operational trajectory.

The Real Estate Investment Trust sector, represented by EMBASSY in this reporting cycle, demonstrated an IMPROVING demand environment for the quarter ending Q3 FY26. EMBASSY reported a record quarter with revenue growing 17% YoY to ₹1,193 crores, up 6.1% sequentially. Net Operating Income (NOI) rose 19% YoY to ₹985 crores. Portfolio occupancy stands at 90% by area.

How old this read is: STALE — this read comes from our Real Estate Investment Trusts sector brief dated 17 Apr 2026, about 5 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Live theme	Severity	Evidence on file
Interest cost increased by 33% despite active debt management.Named for EMBASSY	medium	“But your debt interest cost has gone up by 33%.” Refinancing at lower rates and increasing fixed-rate debt to 60%.
New MAT provisions proposed in the budget may impact cash tax rates.Named for EMBASSY	low	“our tax percentage to revenue is around 5% now, which can go up to 6%.” Tax percentage to revenue may go from 5% to 6%.
MNC layoffs in the tech sector could impact incremental demand.Named for EMBASSY	low	“while there are cases of layoffs here and there, these are very business-specific” Layoffs are business-specific; AI and data science hiring remains high.

Sources: our Real Estate Investment Trusts sector brief, 17 Apr 2026 · company earnings-call transcripts.

07 · 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 ₹3,422 crore. Brookfield India Real Estate Trust has the highest Income growth at 34.6%, so level and change sit with different companies.

What the numbers say: Embassy Office Parks REIT is the scale leader at ₹4,763 crore, 39.2% ahead of Mindspace Business Parks REIT. Brookfield India Real Estate Trust's growth is 34.6% from a ₹3,302 crore base, with 15 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

Gap39.2% versus #2 · Mindspace Business Parks REIT

Persistence8/8 recent comparable periods

Coverage4/4 companies · 59 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₹3.4K Cr

3Brookfield India Real Estate Trust BIRET₹3.3K Cr

4Nexus Select Trust NXST₹2.6K Cr

Income growthfastest growers

1Brookfield India Real Estate Trust BIRET35%

2Mindspace Business Parks REIT MINDSPACE26%

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.

Company	Income	Income growth	Reported
Embassy Office Parks REIT EMBASSY	₹1.2K Cr	17%	Jun 2026
Brookfield India Real Estate Trust BIRET	₹974 Cr	52%	Jun 2026
Mindspace Business Parks REIT MINDSPACE	₹946 Cr	28%	Jun 2026
Nexus Select Trust NXST	₹681 Cr	11%	Jun 2026

Full 20-quarter history · every available company

Income · reported quarter history

Brookfield India Real Estate Trust · BIRET

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹300 Cr

Mar 2023₹302 Cr

Jun 2023₹314 Cr

Sep 2023₹400 Cr

Dec 2023₹531 Cr

Mar 2024₹547 Cr

Jun 2024₹574 Cr

Sep 2024₹590 Cr

Dec 2024₹602 Cr

Mar 2025₹620 Cr

Jun 2025₹642 Cr

Sep 2025₹671 Cr

Dec 2025₹697 Cr

Mar 2026₹960 Cr

Jun 2026₹974 Cr

Embassy Office Parks REIT · EMBASSY

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹893 Cr

Mar 2023₹895 Cr

Jun 2023₹943 Cr

Sep 2023₹926 Cr

Dec 2023₹966 Cr

Mar 2024₹981 Cr

Jun 2024₹934 Cr

Sep 2024₹997 Cr

Dec 2024₹1.0K Cr

Mar 2025₹1.1K Cr

Jun 2025₹1.1K Cr

Sep 2025₹1.1K Cr

Dec 2025₹1.2K Cr

Mar 2026₹1.2K Cr

Jun 2026₹1.2K Cr

Mindspace Business Parks REIT · MINDSPACE

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹559 Cr

Mar 2023₹570 Cr

Jun 2023₹593 Cr

Sep 2023₹638 Cr

Dec 2023₹608 Cr

Mar 2024₹620 Cr

Jun 2024₹628 Cr

Sep 2024₹649 Cr

Dec 2024₹649 Cr

Mar 2025₹681 Cr

Jun 2025₹740 Cr

Sep 2025₹772 Cr

Dec 2025₹814 Cr

Mar 2026₹890 Cr

Jun 2026₹946 Cr

Nexus Select Trust · NXST

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023₹0 Cr

Jun 2023₹287 Cr

Sep 2023₹541 Cr

Dec 2023₹571 Cr

Mar 2024₹542 Cr

Jun 2024₹554 Cr

Sep 2024₹557 Cr

Dec 2024₹594 Cr

Mar 2025₹580 Cr

Jun 2025₹614 Cr

Sep 2025₹631 Cr

Dec 2025₹671 Cr

Mar 2026₹652 Cr

Jun 2026₹681 Cr

Income growth · reported quarter history

Brookfield India Real Estate Trust · BIRET

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202377%

Mar 202481%

Jun 202483%

Sep 202448%

Dec 202413%

Mar 202513%

Jun 202512%

Sep 202514%

Dec 202516%

Mar 202655%

Jun 202652%

Embassy Office Parks REIT · EMBASSY

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20238.2%

Mar 20249.6%

Jun 2024-1.0%

Sep 20247.7%

Dec 20245.8%

Mar 202511%

Jun 202513%

Sep 202513%

Dec 202517%

Mar 202611%

Jun 202617%

Mindspace Business Parks REIT · MINDSPACE

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20238.8%

Mar 20248.8%

Jun 20245.9%

Sep 20241.7%

Dec 20246.7%

Mar 20259.8%

Jun 202518%

Sep 202519%

Dec 202525%

Mar 202631%

Jun 202628%

Nexus Select Trust · NXST

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202493%

Sep 20243.0%

Dec 20244.0%

Mar 20257.0%

Jun 202511%

Sep 202513%

Dec 202513%

Mar 202612%

Jun 202611%

08 · 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 ₹800 crore. Brookfield India Real Estate Trust is next at ₹625 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 ₹800 crore of TTM profit, 28% above Brookfield India Real Estate Trust. Brookfield India Real Estate Trust shows ≥100% on the scoring scale (143.2% uncapped) growth from a ₹625 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderMindspace Business Parks REIT · ₹800 crore

Gap28% versus #2 · Brookfield India Real Estate Trust

Persistence4/8 recent comparable periods

Coverage4/4 companies · 59 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₹800 Cr

2Brookfield India Real Estate Trust BIRET₹625 Cr

3Nexus Select Trust NXST₹440 Cr

4Embassy Office Parks REIT EMBASSY₹378 Cr

Profit growthfastest growers

1Brookfield India Real Estate Trust BIRET100%

2Mindspace Business Parks REIT MINDSPACE47%

3Nexus Select Trust NXST-5.0%

4Embassy Office Parks REIT EMBASSY-76%

Net profit · company comparison

4/4 level · 4/4 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Mindspace Business Parks REIT MINDSPACE	₹272 Cr	63%	Jun 2026
Brookfield India Real Estate Trust BIRET	₹221 Cr	67%	Jun 2026
Embassy Office Parks REIT EMBASSY	₹195 Cr	26%	Jun 2026
Nexus Select Trust NXST	₹157 Cr	31%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Brookfield India Real Estate Trust · BIRET

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹25 Cr

Mar 2023₹33 Cr

Jun 2023₹-27 Cr

Sep 2023₹2 Cr

Dec 2023₹17 Cr

Mar 2024₹2 Cr

Jun 2024₹39 Cr

Sep 2024₹23 Cr

Dec 2024₹23 Cr

Mar 2025₹79 Cr

Jun 2025₹132 Cr

Sep 2025₹149 Cr

Dec 2025₹201 Cr

Mar 2026₹54 Cr

Jun 2026₹221 Cr

Embassy Office Parks REIT · EMBASSY

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹163 Cr

Mar 2023₹35 Cr

Jun 2023₹234 Cr

Sep 2023₹217 Cr

Dec 2023₹230 Cr

Mar 2024₹283 Cr

Jun 2024₹179 Cr

Sep 2024₹1.5K Cr

Dec 2024₹158 Cr

Mar 2025₹-243 Cr

Jun 2025₹155 Cr

Sep 2025₹232 Cr

Dec 2025₹381 Cr

Mar 2026₹-430 Cr

Jun 2026₹195 Cr

Mindspace Business Parks REIT · MINDSPACE

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022₹126 Cr

Mar 2023₹-34 Cr

Jun 2023₹137 Cr

Sep 2023₹150 Cr

Dec 2023₹147 Cr

Mar 2024₹127 Cr

Jun 2024₹138 Cr

Sep 2024₹135 Cr

Dec 2024₹145 Cr

Mar 2025₹96 Cr

Jun 2025₹167 Cr

Sep 2025₹127 Cr

Dec 2025₹192 Cr

Mar 2026₹209 Cr

Jun 2026₹272 Cr

Nexus Select Trust · NXST

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023₹-3 Cr

Jun 2023₹94 Cr

Sep 2023₹251 Cr

Dec 2023₹107 Cr

Mar 2024₹146 Cr

Jun 2024₹140 Cr

Sep 2024₹110 Cr

Dec 2024₹119 Cr

Mar 2025₹114 Cr

Jun 2025₹120 Cr

Sep 2025₹132 Cr

Dec 2025₹139 Cr

Mar 2026₹12 Cr

Jun 2026₹157 Cr

Profit growth · reported quarter history

Brookfield India Real Estate Trust · BIRET

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-32%

Mar 2024-94%

Jun 2024—

Sep 20241,050%

Dec 202435%

Mar 20253,850%

Jun 2025238%

Sep 2025548%

Dec 2025774%

Mar 2026-32%

Jun 202667%

Embassy Office Parks REIT · EMBASSY

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202341%

Mar 2024709%

Jun 2024-24%

Sep 2024605%

Dec 2024-31%

Mar 2025-186%

Jun 2025-13%

Sep 2025-85%

Dec 2025141%

Mar 2026—

Jun 202626%

Mindspace Business Parks REIT · MINDSPACE

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202317%

Mar 2024—

Jun 20240.7%

Sep 2024-10%

Dec 2024-1.4%

Mar 2025-24%

Jun 202521%

Sep 2025-5.9%

Dec 202532%

Mar 2026118%

Jun 202663%

Nexus Select Trust · NXST

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202449%

Sep 2024-56%

Dec 202411%

Mar 2025-22%

Jun 2025-14%

Sep 202520%

Dec 202517%

Mar 2026-89%

Jun 202631%

09 · 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

Company	Deposits	Borrowings	Reported
Embassy Office Parks REIT EMBASSY	—	₹22.5K Cr	Jun 2026
Mindspace Business Parks REIT MINDSPACE	—	₹13.0K Cr	Jun 2026
Brookfield India Real Estate Trust BIRET	—	₹16.6K Cr	Jun 2026
Nexus Select Trust NXST	—	₹6.2K Cr	Jun 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

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021₹2.1K Cr

Mar 2022₹5.2K Cr

Dec 2022—

Mar 2023₹5.5K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹12.1K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹9.1K Cr

Jun 2025—

Sep 2025₹9.1K Cr

Dec 2025—

Mar 2026₹16.6K Cr

Jun 2026—

Embassy Office Parks REIT · EMBASSY

Mar 2018—

Mar 2019₹7.8K Cr

Mar 2020₹5.7K Cr

Mar 2021₹10.7K Cr

Mar 2022₹12.1K Cr

Dec 2022—

Mar 2023₹14.8K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹17.0K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹20.0K Cr

Jun 2025—

Sep 2025₹21.1K Cr

Dec 2025—

Mar 2026₹22.5K Cr

Jun 2026—

Mindspace Business Parks REIT · MINDSPACE

Mar 2018₹2.4K Cr

Mar 2019₹6.2K Cr

Mar 2020₹0 Cr

Mar 2021₹3.8K Cr

Mar 2022₹4.5K Cr

Dec 2022—

Mar 2023₹5.5K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹7.0K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹10.1K Cr

Jun 2025—

Sep 2025₹11.3K Cr

Dec 2025—

Mar 2026₹13.0K Cr

Jun 2026—

Nexus Select Trust · NXST

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023₹0 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹4.3K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹5.3K Cr

Jun 2025—

Sep 2025₹5.8K Cr

Dec 2025—

Mar 2026₹6.2K Cr

Jun 2026—

10 · not available

Return On Assets

No company in this Real Estate Investment Trusts comparison reports ROA 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.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

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.

11 · 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 Jun 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

Company	ROE	ROE change	Reported
Mindspace Business Parks REIT MINDSPACE	4.7%	—	Jun 2026
Brookfield India Real Estate Trust BIRET	2.8%	—	Jun 2026
Nexus Select Trust NXST	2.7%	—	Jun 2026
Embassy Office Parks REIT EMBASSY	1.3%	—	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.

12 · 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.

13 · 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 0.47×. Brookfield India Real Estate Trust has the lowest P/BV at 1.29×, 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×, 2.1% 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×

Gap2.1% 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

Company	P/BV ÷ ROE	P/BV	Reported
Embassy Office Parks REIT EMBASSY	1.6	1.8	Jun 2026
Nexus Select Trust NXST	0.7	1.7	Jun 2026
Brookfield India Real Estate Trust BIRET	0.5	1.0	Jun 2026
Mindspace Business Parks REIT MINDSPACE	0.5	1.9	Jun 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

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 20221.1

Dec 20221.1

Mar 20231.1

Jun 20231.1

Sep 20231.0

Dec 20231.0

Mar 20241.1

Jun 20240.8

Sep 20241.2

Dec 20241.2

Mar 20251.2

Jun 20250.9

Sep 20251.4

Dec 20251.5

Mar 20261.7

Jun 20261.0

Embassy Office Parks REIT · EMBASSY

Mar 2018—

Mar 2019—

Mar 2020—

Mar 20211.1

Mar 20221.3

Dec 20221.3

Mar 20231.1

Jun 20231.1

Sep 20231.2

Dec 20231.3

Mar 20241.5

Jun 20241.4

Sep 20241.6

Dec 20241.5

Mar 20251.5

Jun 20251.6

Sep 20251.7

Dec 20251.9

Mar 20261.8

Jun 20261.8

Mindspace Business Parks REIT · MINDSPACE

Mar 2018—

Mar 2019—

Mar 2020—

Mar 20211.1

Mar 20221.3

Dec 20221.3

Mar 20231.2

Jun 20231.2

Sep 20231.3

Dec 20231.3

Mar 20241.4

Jun 20241.4

Sep 20241.5

Dec 20241.6

Mar 20251.6

Jun 20251.8

Sep 20252.0

Dec 20252.1

Mar 20262.0

Jun 20261.9

Nexus Select Trust · NXST

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20231.2

Dec 20231.3

Mar 20241.2

Jun 20241.4

Sep 20241.5

Dec 20241.4

Mar 20251.4

Jun 20251.4

Sep 20251.8

Dec 20251.7

Mar 20261.7

Jun 20261.7

14 · 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.

15 · 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 2026-09-11. 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 2026-09-11 · 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.

16 · questions investors ask, short speakable answers

Real Estate Investment Trusts company comparison FAQs

These 21 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 2026-09-11. Nothing here is estimated, and none of it is a recommendation.

Is the Real Estate Investment Trusts sector outperforming NIFTY 500?

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 34.6%, 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 53.4/100 with 66.6% 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.

Is there a Nifty Real Estate Investment Trusts index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Real Estate Investment Trusts, this page builds its own equal-weight basket of 4 listed Real Estate Investment Trusts companies — one company, one vote, regardless of market value — so no single large company dominates the reading. 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 ₹3,422 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 ₹800 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Brookfield India Real Estate Trust has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

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×. All 4 companies qualify for the ratio comparison. 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 14.5% over the last 52 weeks and 6.9% 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?

Nexus Select Trust 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 53.4 out of 100 with 66.6% evidence confidence, from 26.5 points on growth and earnings, 9.8 on capital efficiency, 3.2 on valuation and 13.9 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 ₹1,27,299 crore of combined market value. Embassy Office Parks REIT is the largest at ₹41,619 crore, about 33% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-17.

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 14.5% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-17.

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.

About

Not SEBI Registered !! Not Investment advice !!