REIT Stocks and Companies in India

The largest REIT stocks in India by market value are Embassy Office Parks REIT (₹39,512 crore), Mindspace Business Parks REIT (₹32,972 crore) and Brookfield India Real Estate Trust (₹26,628 crore), at prices of 6 Nov 2026.

• Embassy Office Parks REIT: ₹416.83 | market value ₹39,512 crore | P/BV 1.9
• Mindspace Business Parks REIT: ₹498.06 | market value ₹32,972 crore | P/BV 2.1
• Brookfield India Real Estate Trust: ₹320.87 | market value ₹26,628 crore | P/BV 1.2
• Nexus Select Trust: ₹158.99 | market value ₹24,086 crore | P/BV 1.8

Share price | market value | P/BV or P/E, biggest first. Prices, market values and ratios at the official close of 6 Nov 2026; the score list below uses the weekly figures.

All 4 listed Indian Real Estate Investment Trusts companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Real Estate Investment Trusts index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Embassy Office Parks REIT₹39,300 cr
2. Mindspace Business Parks REIT₹32,000 cr
3. Brookfield India Real Estate Trust₹26,100 cr
4. Nexus Select Trust₹24,200 cr

4 REIT companies in the Real Estate Investment Trusts industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 4 are listed below, largest first. The largest is Embassy Office Parks REIT (₹39,266 crore) and the smallest with a market value is Nexus Select Trust.

Download all 4 REIT companies (CSV)

The line below covers up to 5.1 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 18% 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 16 weeks running.

Price up, without the fundamentals confirming. 0 of 4 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 16 weeks running; 1 of the 4 companies in the industry index above their 200-day average (1 fewer than four weeks earlier); 0 of those 4 pass the momentum test (2 fewer than four weeks earlier); earnings rising at 3 of the 4 that report earnings.

Participation is shrinking, 2 → 0 of 4 over four weeks, after being ahead of NIFTY 500. Price-only fade, 3 of 4 members have higher trailing twelve-month earnings than a year ago, so the fade is in the price, not in the earnings.

Both lines start at 200 in the same week, so the gap between them tells the 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 set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same 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 or tap any point to read both values and the gap.

Real Estate Investment Trusts has done better than the NIFTY 500 by 5.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 3.1%. Mindspace Business Parks REIT is the strongest against the sector itself at +3.4%.

Real Estate Investment Trusts has done better than the NIFTY 500 by 5.9% over 52 weeks and by 3.1% over 13 weeks. 0 of 4 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months), and 2 of 4 are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Mindspace Business Parks REIT has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 72.9% evidence confidence.

Mindspace Business Parks REIT has the strongest one-year price move in Real Estate Investment Trusts at +3.9%. It also leads on relative strength against the NIFTY, at +5.7%. 3 of 4 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: 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.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Real Estate Investment Trusts itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

1 of 4 Real Estate Investment Trusts companies held a results call for April to June 2026. Mindspace Business Parks REIT guided: Office delivery pipeline: 4.7 million square feet due over the next 12 months, mostly pre-committed; next data-center facilities planned for January to March 2027 and July to September 2027, taking the completed footprint to about 1.7 million square feet.

From the results calls for April to June 2026.

Spending on plants is not a useful measure for a lender, so it is left out.

Big funds = foreign and Indian institutions, change in their share of ownership across 4 Real Estate Investment Trusts companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Real Estate Investment Trusts figures above: what is actually happening in the industry, 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: OLD: this read comes from our Real Estate Investment Trusts sector brief dated 17 Apr 2026, about 7 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

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

Embassy Office Parks REIT has the highest Income among the 4 Real Estate Investment Trusts companies compared here, at ₹4,942 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 largest at ₹4,942 crore, 44.4% 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 quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Embassy Office Parks REIT is the size to compare against; Brookfield India Real Estate Trust is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

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.

Income · company comparison

Income · largest

Income growth · fastest growers

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.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Embassy Office Parks REIT has the highest Net profit among the 4 Real Estate Investment Trusts companies compared here, at ₹977 crore. Mindspace Business Parks REIT is next at ₹800 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: Embassy Office Parks REIT earns the most, ₹977 crore of profit over the last 12 months, 22.1% above Mindspace Business Parks REIT. Brookfield India Real Estate Trust shows at least 100% on the scoring scale (143.2% in full) growth from a profit base of ₹625 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Embassy Office Parks REIT sets the level to compare against; the company improving fastest needs another report to confirm the change.

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 profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

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 ₹24,500 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.

What this means: The current leader sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

Funding base · company comparison

Deposits · largest deposit bases

Not enough comparable data.

Borrowings · largest borrowings

All-company data · latest reported quarter

Deposits is left out: no company here reports it on a comparable basis.

Deposit scale can lower funding risk, while rising wholesale borrowings can change cost and liquidity. Asset quality and margins decide whether the funding base creates value.

Mindspace Business Parks REIT has the highest ROA among the 4 Real Estate Investment Trusts companies compared here, at 4.5%. Brookfield India Real Estate Trust is next at 3.9%. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Mindspace Business Parks REIT leads roa at 4.5%; the second comparison lacks enough current evidence.

What this means: Mindspace Business Parks REIT sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

No quarter-by-quarter ROA chart yet: these companies have too few comparable reported quarters. The latest figures are in the table below.

Withheld from this chart: Embassy Office Parks REIT (EMBASSY): its two data sources disagree by up to 106% on reported income across 15 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 15 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 15 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 14 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.

ROA · highest

ROA change · fastest improvers

Not enough comparable data.

All-company data · latest reported quarter

ROA change is left out: no company here reports it on a comparable basis.

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.

What this means: Mindspace Business Parks REIT sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

No quarter-by-quarter ROE chart yet: these companies have too few comparable reported quarters. The latest figures are in the table below.

Withheld from this chart: Embassy Office Parks REIT (EMBASSY): its two data sources disagree by up to 106% on reported income across 15 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 15 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 15 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 14 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.

ROE · highest

ROE change · fastest improvers

Not enough comparable data.

All-company data · latest reported quarter

ROE change is left out: no company here reports it on a comparable basis.

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 Sep 2026.

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

Withheld from this chart: Embassy Office Parks REIT (EMBASSY): its two data sources disagree by up to 106% on reported income across 15 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 15 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 15 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 14 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.

Brookfield India Real Estate Trust has the lowest P/BV ÷ ROE among the 4 Real Estate Investment Trusts companies compared here, at 0.44×. Mindspace Business Parks REIT is next at 0.45×. The same company also has the lowest P/BV, at 1.21×. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Brookfield India Real Estate Trust has the lowest comparable P/BV ÷ ROE at 0.44×, 2.2% below Mindspace Business Parks REIT. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

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. A lower figure is better only if loan quality and returns stay strong; a low price against book value while bad loans are rising is not a good sign by itself.

Valuation · company comparison

P/BV ÷ ROE · lowest return-adjusted price

P/BV · lowest P/BV

All-company data · latest reported quarter

Real Estate Investment Trusts companies show up on 4 of our India lists. The most are on the small & mid cap stocks list (4 companies).

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-source figures left out because the two sources disagree. 2 of the 7 ranked sections have fewer than three usable current readings.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROE can come from heavy borrowing. It is best read beside ROA and loan quality.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• 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-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.

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 Sep 2026 and market data through 30 October 2026.

4 of 4 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Embassy Office Parks REIT (EMBASSY): its two data sources disagree by up to 106% on reported income across 15 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 15 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 15 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 14 comparable periods, so its derived ratios are withheld.

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 Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.