Real Estate, REIT and Cement Stocks in India

Here are all 51 real estate companies on this list, with price, P/E (P/B for lenders), 52-week high and low and returns against the Nifty 500. The biggest by market value are DLF, Lodha Developers and Phoenix Mills. 11 of the 51 are worth less than ₹2,000 crore.

Download all 51 (CSV). "Earnings growth" is earnings per share over the last 12 months against the 12 months before. "vs Nifty 500" is the stock's return minus the Nifty 500's, in percentage points.

Prices as of 16 October 2026. Market value, earnings growth and returns from the weekly scan to 9 October 2026. Updated every weekend

5 REITs trade on NSE: Knowledge Realty Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust and Nexus Select Trust. A REIT owns finished offices or malls and passes the rent on to its unitholders. 2 of the 5 beat the Nifty 500 by 5 points or more over 3 months.

A REIT is a trust, so it trades in units, not shares. P/B is price against the value of what the trust owns on its books. Most of a REIT's payout is interest and repayment of capital, not dividend. Screener's dividend yield counts only the dividend part (for Embassy Office Parks REIT it shows 0.05%), so no payout yield is shown here.

NSE's REIT industry plus Knowledge Realty Trust. Prices as of 16 October 2026, updated every weekend

25 listed companies make cement. The 10 biggest by market value are UltraTech Cement, Ambuja Cements, Shree Cement, J K Cements, Dalmia Bharat, ACC, The Ramco Cements, JSW Cement, Nuvoco Vistas Corporation and India Cements. 10 of the 25 have earnings per share up over the last 12 months, and 4 beat the Nifty 500 by 5 points or more over 3 months.

3 cement stocks trade under ₹100 a share: Sanghi Industries (₹49.9), Saurashtra Cement (₹50.3) and Shree Digvijay Cement Co. (₹64.7). A low share price says nothing about the size of the company.

Cement makers are not counted in the real estate list, its top 10 or its CSV. Sanghi Industries is counted: NSE files it under cement products, but it makes cement. BIGBLOC Construction is left out: it makes AAC building blocks, not cement. Ramco Industries, Visaka Industries and BirlaNu make fibre cement sheets and boards, and Indian Hume Pipe makes pipes. GPT Infraprojects is a builder. So NSE's cement products group is not counted, apart from Sanghi Industries.

Cement stocks: P/E against their own history

6 of the 22 cement stocks with a P/E history trade above their own usual P/E, 1 exactly at it, and 15 below. "Usual" is each company's own long-run median, as of 17 October 2026.

Cement capacity in their own words

7 cement makers gave their capacity on a recent call. A line marked "plan" is a target, not built yet. Clinker is the half-made product that is ground into cement.

• UltraTech Cement July 2026 call

  "We'll take our consolidated capacity beyond 242 million tons with grey cement capacity to reach 212.7 million tons by the end of fiscal '27 and further balance to be completed in the next year."Atul Daga

• Ambuja Cements May 2026 call

  "We are expecting to hit capacity of almost 119 million tonnes by end of FY '27."Vinod Bahety

• Dalmia Bharat July 2026 call

  "With this acquisition, along with our ongoing expansion projects at Belgaum, Kadapa and Pune, our cement capacity will reach about 67 million tons by quarter 3 of financial year '28."Puneet Dalmia

• Nuvoco Vistas Corporation September 2026 call

  "In terms of clinker capacity, we have 13.5 million tons of capacity spread across the East and North, and we are going to add 3.5 million tons at Vadraj by FY27."Vishnu Sharma - IR

• Star Cement September 2026 call

  "We currently have 9.7 million tons of capacity, of which 7.7 million tons are in the Northeast and 2 million tons are in Siliguri, West Bengal."Sunil Agarwal - CSO

• JK Lakshmi Cement May 2026 call

  "We have current capacity of about 18 million tons, right."Arun Shukla

• Shree Digvijay Cement Co. March 2026 call

  "So, Raj, you rightly mentioned that we are having the installed capacity of 1.1 million ton of the clinker."Vikas Kumar

Companies whose main business is making cement: NSE's cement industry, plus Sanghi Industries, minus the changes named here. Prices as of 16 October 2026, updated every weekend

Real estate stocks are shares of companies that develop homes or offices, rent out malls, offices or shared workspaces, or own rent-earning offices as a REIT. The 51 on this page fall into 3 groups. The biggest group is home and office developers, with 39 companies.

The rule in one line: a company is here when its main business is developing homes or offices, renting out malls, offices or workspaces, or owning offices as a REIT. NSE's industry label is the starting point. Its housing, regional, national, commercial and co-working property industries and its REIT industry are counted. Every company added or left out is named below with its reason.

Added from other industries

• Anant Raj: NSE files it under data centres, but its own description says it develops offices, IT parks, malls and homes.
• Knowledge Realty Trust: NSE files it with road and power trusts, but it is an office REIT.

Left out on purpose

• Raymond: its own description puts textiles, FMCG and engineering first, and its property business now trades as Raymond Realty, which is on this list.
• Capacite Infraprojects: builds towers for other developers as a contractor, with no homes of its own on offer.
• NSE files 9 road, power and transport trusts in the same group as Knowledge Realty Trust: Vertis, Maple, Indus Infra, RaajMarg, Nxt-Infra, Capital Infra, Roadstar, TVS and Anantam. They own roads and power lines, not property, so they are not here.
• Cement makers are listed in their own section below and are not counted in the real estate list.

Membership checked every month. Industries follow NSE industry groups

14 of the 51 real estate companies gave their sales bookings on a recent results call. Among them are DLF (August 2026 call), Prestige Estates Projects (July 2026 call) and Brigade Enterprises (May 2026 call). Each sentence is quoted below exactly as it was said.

In their own words

• DLF August 2026 call

  "New sales bookings for the quarter were INR 657 crores, reflecting the timing impact of deferment of our launch of Aureva, our senior living product."Badal Bagri

• Prestige Estates Projects July 2026 call

  "Our residential business recorded pre-sales of 6,579 crores during the quarter, with sales volumes of approximately 6 million square feet across 337 units sold."Zaid Muman - Executive Director

• Brigade Enterprises May 2026 call

  "Specifically, for Q4, we launched 4 million square feet, which resulted in pre-sales of INR2,521 crores, a Q-on-Q increase of 44% by value."Pavitra Shankar

• Aditya Birla Real Estate May 2026 call

  "We achieved presales of INR 4,288 crores, reflecting a robust 69% Q-o-Q increase."R.K. Dalmia

• SignatureGlobal India August 2026 call

  "As far as the numbers go, yes, we have done close to Rs. 2,000 odd crores, about Rs. 20 odd billion of pre-sales got achieved."Rajat Kathuria

• Max Estates May 2026 call

  "Just to give you an update on the FY26 performance in terms of headline numbers on the residential business, the full year pre-sales came in at 5,305 crores, the second consecutive year that we've crossed the 5,000 crore pre-sales milestone."Management

• Puravankara September 2026 call

  "Coming to the company's recent performance, in the last financial year, FY25-26, we achieved pre-sales of 7,407 crore."Neeraj Kumar Gautam - CFO

• Raymond Realty September 2026 call

  "We have a net worth of 1,500-1,600 crores, while we are generating pre-sales of more than 3,000 crores and have a GDV of 52,000 crores."Tanuj

• Keystone Realtors May 2026 call

  "The presales that we have done this year are INR4,022 crores."Boman Irani

• Sunteck Realty September 2026 call

  "Our pre-sales were 3,157 crores, which was a growth of 25% year-on-year."Management

• Marathon Nextgen Realty September 2026 call

  "To give you an idea, our pre-sales last year, which is what we track, were around 1,000 crores."Kevalya Shah - Director

• Ajmera Realty & Infra India May 2026 call

  "We are very happy that Ajmera Realty has done a stellar performance, and it has been we have got our highest achieving presales number of INR1,701 crores, surpassing our guidance of INR1,600 crores, which is marking a nominal 57% growth year-on-year."Dhaval Ajmera

• Arihant Superstructures September 2026 call

  "The company currently has a GDV of close to 14,000 crores, and we generated revenue of 550 crores and pre-sales of 980 crores during FY26."Udit Kasera - CFO

• Eldeco Housing & Industries September 2026 call

  "As you can see, starting in FY22, we were doing around 200-300 crores of pre-sales every year, but in FY26, we did 743 crores of pre-sales, which was 10.8 lakh square feet."Vaibhav Singh - Group CEO

Sales bookings (often called pre-sales) are the value of homes and offices sold in the period, before the building is finished. The period in each figure is the one the sentence names. These are the companies' own figures and are not checked against their filings here. Where a company's newest call does not mention it, the sentence comes from an earlier call, and the date shows which. 37 companies have no sales bookings sentence here, either because none is on record or because the one on record did not pass the word-for-word check. Among them are Lodha Developers, Phoenix Mills and Oberoi Realty.

From each company's most recent call on record that mentions its sales bookings, copied word for word. Checked every month

18 of the 45 real estate stocks with a P/E history traded above their own usual P/E at the 17 October 2026 valuation. Among the 10 biggest, earnings per share fell over 12 months at Embassy Office Parks REIT (-76%) and DLF (-1%). 26 of the 51 are behind the Nifty 500 over the last 3 months. The furthest behind are Aditya Birla Real Estate (-23.1 points) and Godrej Properties (-21.0 points).

The 10 furthest behind the Nifty 500

• Aditya Birla Real Estate -23.1 points against the Nifty 500 in 3 months.
• Godrej Properties -21.0 points against the Nifty 500 in 3 months. Earnings per share up 6% in the last 12 months. Next to check, from the August 2026 call: Bandra and Golf Course Extension Road approval and launch timing.
• AGI Infra -20.1 points against the Nifty 500 in 3 months. Earnings per share up 40% in the last 12 months.
• Shriram Properties -19.4 points against the Nifty 500 in 3 months. Earnings per share up 14% in the last 12 months. Next to check, from the September 2026 call: Bangalore and Gateway Sea Zone approvals.
• Valor Estate -19.3 points against the Nifty 500 in 3 months.
• Hubtown -18.6 points against the Nifty 500 in 3 months. Earnings per share fell 27% in the last 12 months. Next to check, from the September 2026 call: Ghatkopar and Chembur OC receipts.
• Sobha -16.8 points against the Nifty 500 in 3 months. Earnings per share up 126% in the last 12 months.
• Hemisphere Properties India -14.3 points against the Nifty 500 in 3 months.
• Ganesh Housing -13.3 points against the Nifty 500 in 3 months. Earnings per share fell 54% in the last 12 months.
• Prestige Estates Projects -12.5 points against the Nifty 500 in 3 months. Earnings per share up 116% in the last 12 months. Next to check, from the July 2026 call: Residential collections and free cash flow after new launches.

This page does not track prices during the day. For today's moves, see the exchange.

Weekly data to 9 October 2026. Reasons from company calls and the industry research, refreshed every month

18 of the 45 real estate stocks with a P/E history trade above their own usual P/E (P/B for lenders), 1 sits exactly at it, and 26 below. The furthest below their own history are AWFIS Space Solutions (-74%), EFC (I) (-63%) and Godrej Properties (-61%).

"Usual" = each company's own long-run median. Valuation as of 17 October 2026, no price targets

NSE's Nifty Realty index has 10 companies. 10 of them are on this list. This list has 41 more companies that the index does not hold.

NSE's own member file, read on 17 October 2026. Checked every week

4 of the 51 real estate stocks trade under ₹100 a share: India Homes (₹26.8), PVP Ventures (₹44.2), Shriram Properties (₹67.7) and 1 more. By size, 2 are large cap, 6 are mid cap and 43 are small cap.

Real estate stocks under ₹100

A low share price says nothing about how big the company is. Market cap shows the size.

Size = rank by market value across every company we score: the top 100 are large cap, the next 150 mid cap, the rest small cap. Updated every weekend

From the industry research of 10 October 2026: Rental income is growing, and Phoenix can collect rent from more of the offices it has already leased. National developers, Regional developers, Other developers, REITs and Shared workspaces were not in that run, so they have no research here yet.

Malls and offices

What is changing: Rental income is growing, and Phoenix can collect rent from more of the offices it has already leased. Nirlon's business is steadier: existing contracts drive growth, with no significant expansion planned.

What is already happening: Phoenix maintains mid-teens rental growth forecast for the year to March 2027 and the year to March 2028.

Where big money is moving: Spending on assets was ₹2,565 crore over the latest twelve months, up 2.0%, while construction in progress grew 19.1%.

What to watch next:

• Phoenix's rent-paying office occupancy catches up toward its cited leased occupancy by March 2027.
• Phoenix delivers mid-teens rental growth for the year to March 2027 and the year to March 2028.
• Phoenix's early-2027 Bangalore addition opens and starts earning rent.

Industry research of 10 October 2026, refreshed every two weeks

The top 10 real estate stocks for October 2026 are: 1. Lodha Developers, 2. Nirlon, 3. Oberoi Realty, 4. Wework India Management, 5. Raymond Realty, 6. Ashiana Housing, 7. Arvind SmartSpaces, 8. Prestige Estates Projects, 9. Phoenix Mills, 10. EFC (I). Companies worth ₹2,000 crore or more are scored every month.

Why each one made the top 10

• Lodha Developers: Score 83 of 100. Earnings per share up 39% in the last 12 months. Watch: the share is 6.5 points behind the Nifty 500 over 3 months.
• Nirlon: Score 79 of 100. Earnings per share up 57% in the last 12 months. 8.3 points ahead of the Nifty 500 over 3 months. Rental growth is principally contract-led because the primary asset has virtually no vacancy. Watch: A single property and a concentrated tenant base leave limited room to absorb a large non-renewal.
• Oberoi Realty: Score 66 of 100. Earnings per share up 28% in the last 12 months. Watch: the share is 5.4 points behind the Nifty 500 over 3 months.
• Wework India Management: Score 64 of 100. Watch: earnings per share fell 79% in the last 12 months.
• Raymond Realty: Score 64 of 100. 6.0 points ahead of the Nifty 500 over 3 months. Sales bookings more than ₹3,000 crore on the September 2026 call. Signed redevelopment projects and scheduled launches provide operating fuel, subject to approvals, tenant agreements and buyer collections. Watch: Profit is not converting into operating cash, and borrowing is funding part of the gap.
• Ashiana Housing: Score 62 of 100. Earnings per share up 225% in the last 12 months. 5.7 points ahead of the Nifty 500 over 3 months. Next to check, from the August 2026 call: Post-OC handovers for Anmol Phase 3 and Amarah Phase 1. Watch: Bangalore remains under discussion after prior expectations of earlier documentation and closure.
• Arvind SmartSpaces: Score 62 of 100. Earnings per share up 54% in the last 12 months. 4.0 points ahead of the Nifty 500 over 3 months. Next to check, from the August 2026 call: Non-Aquacity sustenance sales across Bengaluru and Mumbai.
• Prestige Estates Projects: Score 60 of 100. Earnings per share up 116% in the last 12 months. Sales bookings ₹6,579 crore in the quarter on the July 2026 call. Next to check, from the July 2026 call: Residential collections and free cash flow after new launches. Watch: the share is 12.5 points behind the Nifty 500 over 3 months.
• Phoenix Mills: Score 58 of 100. Earnings per share up 29% in the last 12 months. Watch: the share is 8.9 points behind the Nifty 500 over 3 months.
• EFC (I): Score 57 of 100. Earnings per share up 26% in the last 12 months. Watch: the share is 5.6 points behind the Nifty 500 over 3 months.

Left the top 10 since September 2026: Mindspace Business Parks REIT. See the September 2026 top 10.

Ranked on October 2026 data, refreshed every month

This page uses weekly closes, not live prices. In the week to 9 October, 17 of the 51 real estate stocks with a clean price record closed higher and 33 closed lower, and 1 closed flat. The biggest weekly gains were Raymond Realty (+7.7%), Arihant Foundations & Housing (+5.2%) and AWFIS Space Solutions (+5.0%).

"Passes weekly test" below means a 3-month return at least 5 points above the Nifty 500, checked at each weekly scan.

Real estate stocks beating the Nifty 500, week by week

Weekly closes, week to 9 October 2026 against the week to 1 October 2026. Updated every weekend

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