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Home›Sectors›Realty - National

Realty - National — sector analysis & key numbers

Realty - National is mature expansion: 0 of 7 constituents are in price uptrends, and aggregate profit grew 21% in the latest year.

7 companies₹4.17 L Cr market value13.3 relative strengthleaders rotationtailwind
By Sector Alpha Research · machine-compiled from Screener.in data · Updated 1 July 2026 · Not investment advice
The 30-second answer

Realty - National groups 7 listed companies worth ₹4,16,855 Cr combined, and 0 of 7 are in confirmed price uptrends. Aggregate profit moved +25.9% year-on-year in the latest reported quarter. The sector trades at an aggregate P/E of 28.5×, at the 49th percentile of its own history.

Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.

Key numbers
Companies
7
Total market cap
₹4,16,855 Cr
Relative strength
13.3
RRG quadrant
leaders
Weeks in streak
1
In Stage-2 uptrend
0 of 7
Above 200-DMA
3 of 7
Beating NIFTY 500
2 of 7
Latest-quarter revenue
₹17,589 Cr
Latest-quarter profit
₹3,502 Cr
Aggregate P/E
28.5×
Valuation percentile
49th of its own history
Sector wind
tailwind
Data as of
1 July 2026
The verdict

The research read on Realty - National: mature expansion.lifecycle_bucket

The curve confirms a durable, earnings-LED upcycle (PAT +145.6% vs PE -33.7%), but both the curve and qual stream signal a maturing cycle. The curve flags that aggregate OPM has compressed to its 0th percentile (20.3%), corroborating the qual stream's warning of 5-8% construction cost inflation and approval gridlocks that are deferring residential launches. While social sentiment remains broadly bullish on a multi-year cycle (+31 rising), the qualitative evidence (moderating price growth to 3-5%, PE capital pulling back -23%) suggests the easy gains have been made. The sector is fundamentally strong and branded developers are deleveraging, but at a normalized 20th percentile PE amidst rising friction, the setup is a fairly priced on watch rather than an aggressive worth studying deeper.synthesis

What would change this view: A quarterly print showing evidence that approval gridlocks are clearing, allowing for accelerated residential launches, or that construction cost inflation is rolling over, enabling a return to mid-cycle (23.1%) margins.would_change_my_mind

Mature residential upcycle — record pre-sales velocity, luxury premiumization and a GCC-led commercial super-cycle, now meeting approval gridlock, construction cost inflation and selective leverage stress.one_line_thesis

tailwind
  • ⚠Aggregate earnings (PAT) grew +145.6% while the price index moved +62.8%. · sector_cycle_deterministic.curve_move_driver
  • ✓PE contracted -33.7% from 42.97 (Mar 2023) to 28.47 (Mar 2026). · curve.valuation_series.pe
  • ✓Aggregate OPM contracted -2.81 pp to 20.33%. · sector_why_traces.agg_opm
  • ⚠Sector is fairly priced with normalized PE at the 20th percentile and margins at the 0th percentile. · sector_cycle_deterministic.verdict
  • ⚠Top contributors lifting PAT were Lodha Developers, DLF, and Godrej Properties. · sector_cycle_deterministic.top_contributors.top
  • ⚠Social sentiment is 68 with a +31 rising 30d shift. · social.youtube
  • ✓Bullish view driven by a multi-year real estate cycle with 3-5 years left. · social.youtube.evidence
  • ⚠Bullish view supported by infrastructure push and urbanization. · social.youtube.evidence

Research view from 2026-06-27

How the sector is moving

0 of 7 constituents are in Stage-2 price uptrends, 3 trade above their 200-day averages, and 2 are beating the NIFTY 500 on relative strength.stageabove_dma200rs_mansfield

Over the trailing ~20 weeks, the share of constituents above the 200-day line moved from 14% to 14% — participation is steady.breadth_series

Sector relative strength stands at 13.3, in the leaders quadrant of the rotation map, with relative strength rising over a 1-week streak.current_rsquadrant

0 / 7
In Stage-2 uptrend
3 / 7
Above 200-day avg
2 / 7
Beating NIFTY 500
RRG: leadersRS 13.3relative strength rising1-week streak
Breadth trend — share of constituents participating% (trailing ~20 weeks)
051015200-DMAvs NIFTY2026-02-092026-03-302026-05-182026-06-22
Data: Breadth trend
Period% above 200-DMA (%)% beating NIFTY (%)
Feb 2614.314.3
Feb 2614.314.3
Feb 260.00.0
Mar 260.00.0
Mar 260.00.0
Mar 260.00.0
Mar 260.00.0
Mar 260.00.0
Apr 260.00.0
Apr 260.00.0
Apr 260.00.0
Apr 260.00.0
May 2614.30.0
May 260.00.0
May 260.00.0
May 260.00.0
Jun 260.00.0
Jun 260.00.0
Jun 2614.30.0
Jun 2614.314.3

Data as of 2026-07-01

⚠ The performers

Top performers by 1-year price return: Prestige Estates Projects Ltd (+0.8%), Sobha Ltd (-7.2%), Godrej Properties Ltd (-14.9%), DLF Ltd (-22.4%), Lodha Developers Ltd (-27.5%).price

by 1-year return
Sector avg
Indexed price (base 100, ~52 weeks)index
Data: Indexed price (base 100, ~52 weeks) — default top-5
PeriodPRESTIGE (index)SOBHA (index)GODREJPROP (index)DLF (index)LODHA (index)Sector avg (index)
Jul 25100100100100100100
Jul 25105113107104103105
Jul 2598.510810110191.498.7
Aug 2594.210692.995.486.393.3
Aug 2594.610189.491.785.990.9
Aug 2594.410287.892.288.090.5
Aug 2596.598.693.093.690.192.0
Aug 2592.195.388.390.785.288.3
Sep 2589.193.888.992.783.988.0
Sep 2591.410590.693.083.490.5
Sep 2595.510697.295.486.993.6
Sep 2588.910388.787.881.587.7
Oct 2590.398.092.189.579.586.8
Oct 2595.796.894.890.882.689.1
Oct 2510110210194.284.892.8
Oct 2510410210494.883.894.1
Oct 2510310810492.885.696.5
Nov 2510311397.193.287.695.2
Nov 2510310599.593.886.493.7
Nov 2599.610294.889.084.190.4
Nov 2599.010395.888.882.090.4
Dec 2599.710394.488.379.489.6
Dec 2598.096.694.185.877.987.4
Dec 2595.897.792.784.877.987.1
Dec 2595.098.690.885.376.786.5
Jan 2695.599.493.885.777.587.3
Jan 2692.310490.382.375.885.6
Jan 2689.910285.679.776.583.1
Jan 2681.992.169.972.264.372.9
Feb 2688.592.368.775.265.573.7
Feb 2691.810177.081.475.480.0
Feb 2689.610281.976.876.780.2
Feb 2687.710182.777.276.579.1
Feb 2682.293.078.574.170.674.6
Mar 2678.890.575.670.963.571.1
Mar 2674.286.371.566.661.967.6
Mar 2673.684.570.266.356.966.4
Mar 2669.281.868.264.250.064.3
Apr 26––68.4––60.2
Apr 26––77.8––69.8
Apr 2680.088.879.773.862.374.4
Apr 2681.094.580.272.060.075.0
Apr 2683.495.683.272.064.174.5
May 2688.995.084.974.668.776.2
May 2679.293.277.769.560.769.7
May 2681.991.878.572.063.370.2
May 2680.894.579.972.567.071.0
Jun 2681.589.577.470.963.969.3
Jun 2681.888.976.772.064.269.4
Jun 2688.394.681.476.665.673.7
Jun 2691.893.983.976.267.774.9
Jul 2695.994.088.879.670.977.1
Quarterly revenue (8q)₹ Cr
Data: Quarterly revenue (8q) — default top-5
PeriodPRESTIGE (₹ Cr)SOBHA (₹ Cr)GODREJPROP (₹ Cr)DLF (₹ Cr)LODHA (₹ Cr)Sector avg (₹ Cr)
Jun 241,8626407391,3622,8461,269
Sep 242,3049341,0931,9752,6261,467
Dec 241,6541,2249691,5294,0831,590
Mar 251,5281,2412,1223,1284,2242,014
Jun 252,3078524352,7173,4921,604
Sep 252,4321,4087401,6433,7981,643
Dec 253,8739434982,0204,6721,952
Mar 264,0741,9883,4581,8144,7142,513
Quarterly net profit (8q)₹ Cr
Data: Quarterly net profit (8q) — default top-5
PeriodPRESTIGE (₹ Cr)SOBHA (₹ Cr)GODREJPROP (₹ Cr)DLF (₹ Cr)LODHA (₹ Cr)Sector avg (₹ Cr)
Jun 243076.0519645476293
Sep 2423526.03341,381423360
Dec 2432.022.01581,059945344
Mar 2543.041.03781,282923397
Jun 2531214.0598763675356
Sep 2545773.04031,180790436
Dec 2524515.01941,203958392
Mar 2629292.06451,2691,008500
Operating margin % (8q)%
Data: Operating margin % (8q) — default top-5
PeriodPRESTIGE (%)SOBHA (%)GODREJPROP (%)DLF (%)LODHA (%)Sector avg (%)
Jun 2442.09.0-25.017.027.015.4
Sep 2427.08.03.025.027.018.2
Dec 2435.05.01.026.032.016.9
Mar 2535.08.04.031.029.018.2
Jun 2538.03.0-62.013.028.02.3
Sep 2537.07.0-80.017.029.0-5.9
Dec 2522.04.0-40.019.030.0-7.2
Mar 2625.08.015.023.030.0-10.6
Latest reported ROCE / ROE (single latest reading, not a trend)%
Data: Latest reported ROCE / ROE (single latest reading, not a trend) — default top-5
PeriodPRESTIGE (%)SOBHA (%)GODREJPROP (%)DLF (%)LODHA (%)Sector avg (%)
ROCE %10.46.98.36.316.67.8
ROE %7.54.210.29.615.87.2
10-year valuation percentile (latest)percentile
Data: 10-year valuation percentile (latest) — default top-5
PeriodPRESTIGE (percentile)SOBHA (percentile)GODREJPROP (percentile)DLF (percentile)LODHA (percentile)Sector avg (percentile)
10y percentile79.067.05.021.05.037.7

Interactive charts default to the five strongest performers by 1-year price return; use the rail to add or remove any constituent, globally or per chart. Non-interactive readers see the same numbers in each chart’s data table.

Data as of 2026-07-01

How they're scaling

In the latest reported quarter (2026-03), constituents together booked ₹17,589 Cr of revenue (+24.8% year-on-year) and ₹3,502 Cr of profit (+25.9%).revenuepat

On the annual arc, aggregate profit grew 21% to ₹11,795 Cr in 2026.pat

Aggregate quarterly revenue₹ Cr
010,000Jun 23Jun 24Jun 25Mar 26
Data: Aggregate quarterly revenue
PeriodRevenue (₹ Cr)Reporters
Jun 238,1137
Sep 238,6487
Dec 239,5077
Mar 2413,0227
Jun 248,8807
Sep 2410,2707
Dec 2411,1277
Mar 2514,0987
Jun 2511,2307
Sep 2511,5027
Dec 2513,6627
Mar 2617,5897
Aggregate quarterly profit₹ Cr
02,000Jun 23Jun 24Jun 25Mar 26
Data: Aggregate quarterly profit
PeriodProfit after tax (₹ Cr)
Jun 231,184
Sep 231,902
Dec 231,540
Mar 242,540
Jun 242,051
Sep 242,517
Dec 242,410
Mar 252,781
Jun 252,493
Sep 253,055
Dec 252,746
Mar 263,502
Aggregate operating margin%
17.520.022.525.0Jun 23Jun 24Jun 25Mar 26
Data: Aggregate operating margin
PeriodOPM (%)
Jun 2318.2
Sep 2321.0
Dec 2325.1
Mar 2426.5
Jun 2422.2
Sep 2421.9
Dec 2424.8
Mar 2523.3
Jun 2520.1
Sep 2517.9
Dec 2520.7
Mar 2621.1
Aggregate profit by year₹ Cr
05,00010,0002015201920232026
Data: Aggregate profit by year
PeriodProfit after tax (₹ Cr)
20152,268
20162,098
20172,305
20186,505
201910,295
20201,731
20213,752
20224,544
20234,803
20247,164
20259,758
202611,795
Aggregate operating margin by year%
20.022.525.027.530.02015201920232026
Data: Operating margin by year
PeriodOPM (%)
201529.4
201627.6
201723.7
201821.8
201924.3
202020.6
202122.4
202221.7
202321.7
202424.1
202523.1
202620.3

Data as of 2026-06-27

The WHY behind the numbers

Sector profit moved from ₹9,758 Cr to ₹11,795 Cr (+20.9% year-on-year) — the decomposition attributes the larger share to the revenue side (demand and volumes).pat

Sector revenue moved from ₹44,378 Cr to ₹53,980 Cr (+21.6% year-on-year).revenue

Aggregate operating margin moved 23.1%→20.3% year-on-year (-281 basis points).opm

The aggregate P/E moved from 43× to 28.5× (-33.7%) while sector profits moved +145.6% — earnings led the multiple — the durable pattern.pe

✓Sector ΣPAT (annual YoY)+20.9%

Sector ΣPAT +20.9% YoY — dominant leg: revenue (volume/demand-led — the durable kind).

pat
✓Sector Σrevenue (annual YoY)+21.6%

Sector Σrevenue +21.6% YoY — confirm it is demand/volume-led across constituents, not price/base.

revenue
✓Sector aggregate OPM (annual YoY)−12.1%

Sector aggregate OPM -281bps down — split input-cost (raw material / commodity) vs mix vs operating-deleverage; capex ramp (new capacity not yet utilized) also drags. Corroborate the driver in the qual bundle.

opmpat_margin
✓Sector PE re-rating (12q)−33.7%

Sector PE moved -33.7% but aggregate ΣPAT rose +145.6% over ~3y — EARNINGS led the multiple (the durable pattern). The re-rating is backed by real aggregate earnings.

peprice_idxpat

Research view from 2026-06-27

Capital cycle

Ownership: institutional (FII+DII) holdings moved -1.22 percentage points over four quarters; promoter stakes moved +0.71 points over two.fii_dii_delta_4qpromoter_delta_2q

Constituents spent ₹9,880 Cr on capex in the trailing twelve months (-13% year-on-year), with gross block growing +20.9%.capex_ttm_sum_crcapex_yoy_pct

On the deterministic capital-flow read, money is neither decisively entering nor leaving this industry.read

capital neutral
FII+DII (4q)−1.22 pp
Promoter (2q)+0.71 pp
Capex TTM₹9,880 Cr
Capex YoY−13.0%
Gross block+20.9%

Research view from 2026-06-27

Valuation vs its own history

The sector trades at an aggregate P/E of 28.47× against a range of 11.39–129.8× over its 40-quarter history.pe

The median constituent sits at the 49th percentile of its own 10-year valuation range.percentile

P/E 28.5×49th percentile of its 10-yr range
Aggregate P/E vs its own history×
50.0100.0P/E2016-062019-122023-062026-03
Data: Aggregate P/E and price index
PeriodP/E (×)Price index
Jun 1644.7100
Sep 1643.6100
Dec 1635.281
Mar 1740.9107
Jun 1750.8133
Sep 1749.6130
Dec 1768.4179
Mar 1817.4151
Jun 1816.2141
Sep 1813.7119
Dec 1815.1131
Mar 1911.5152
Jun 1911.9157
Sep 1911.4150
Dec 1913.3175
Mar 2067.7102
Jun 2083.1125
Sep 2086.8131
Dec 20129.8195
Mar 2138.8219
Jun 2147.1217
Sep 2172.6335
Dec 2171.1328
Mar 2256.6317
Jun 2246.8262
Sep 2248.0268
Dec 2250.5283
Mar 2343.0254
Jun 2360.5358
Sep 2346.5391
Dec 2361.4541
Mar 2471.4629
Jun 2476.2754
Sep 2471.6762
Dec 2460.2706
Mar 2547.3569
Jun 2555.3694
Sep 2544.2584
Dec 2542.4578
Mar 2628.5413

Data as of 2026-06-27

The companies

7 companies make up this sector, led by DLF Ltd at ₹1,53,011 Cr of market value.constituents

CompanyPrice1yStageRS10y val %
DLF Ltd₹649−22.4%4-3.721
Lodha Developers Ltd₹992−27.5%4-5.75
Prestige Estates Projects Ltd₹1,625+0.8%46.579
Godrej Properties Ltd₹1,960−14.9%42.45
Brigade Enterprises Ltd₹503−53.2%4-19.749
Sobha Ltd₹1,410−7.2%4-3.567
Aditya Birla Real Estate Ltd₹1,396−39.3%4-10.2–

Data as of 2026-07-01

Connected sectors

Tailwind chain: Strong residential pre-sales and government focus on water/urban infra. Also touches: DI Pipes/Saw Pipes, Construction - Civil/Turnkey.triggermechanism

tailwind

Strong residential pre-sales and government focus on water/urban infra.

Housing boom creates trailing demand for building materials, pipes, and cables. Jal Jeevan and urban infra drive DI pipe and civil contracting orders.

DI Pipes/Saw PipesConstruction - Civil/Turnkey

Research view from 2026-06-27

What is NOT happening

Institutional money is NOT yet crowding in: FII+DII holdings moved just -0.83 percentage points across constituents over the last two quarters — the capital-flow read is neutral.fii_dii_delta_2qread

  • Institutional money is NOT yet crowding in: FII+DII holdings moved just -0.83 percentage points across constituents over the last two quarters — the capital-flow read is neutral.

Data as of 2026-07-01

Frequently asked questions

Straight answers from the data

What is the Realty - National sector?

The Realty - National sector groups 7 listed companies with a combined market value of ₹4,16,855 Cr, led by DLF Ltd, Lodha Developers Ltd, Prestige Estates Projects Ltd. 0 of 7 constituents are currently in confirmed price uptrends.

Which stocks are in the Realty - National sector?

The largest Realty - National companies by market value are DLF Ltd (₹1,53,011 Cr), Lodha Developers Ltd (₹93,697 Cr), Prestige Estates Projects Ltd (₹67,035 Cr), Godrej Properties Ltd (₹55,745 Cr), Brigade Enterprises Ltd (₹17,729 Cr), Sobha Ltd (₹15,056 Cr), Aditya Birla Real Estate Ltd (₹14,582 Cr).

What are the best-performing Realty - National stocks?

By 1-year price return as of 1 July 2026, the strongest Realty - National stocks are Prestige Estates Projects Ltd (+0.8%), Sobha Ltd (−7.2%), Godrej Properties Ltd (−15%), DLF Ltd (−22%), Lodha Developers Ltd (−28%). These are descriptive price moves measured from weekly Screener closes, not recommendations.

Is the Realty - National sector in an uptrend?

0 of 7 Realty - National constituents are in Stage-2 price uptrends, 3 trade above their 200-day average, and 2 are beating the NIFTY 500 on relative strength. Sector relative strength reads 13.3, in the leaders quadrant of the rotation map, rising over a 1-week streak.

How many Realty - National stocks trade above their 200-day average?

3 of 7 Realty - National constituents currently trade above their 200-day moving average. Over the trailing ~20 weeks, that share moved from 14% to 14% — participation is steady.

Is the Realty - National sector expensive versus its own history?

The Realty - National sector trades at an aggregate P/E of 28.5× against a 11.4–130× band over its own history. The median constituent sits at the 49th percentile of its own 10-year P/E range, around the middle of its own historical range.

Is money entering or leaving the Realty - National sector?

On Sector Alpha's deterministic capital-flow read, money is neither clearly entering nor leaving the Realty - National sector. Institutional (FII+DII) holdings moved −1.22 percentage points across constituents over the last four quarters, and constituents grew capex −13.0% year-on-year.

How fast is the Realty - National sector growing?

In the latest reported quarter (March 2026), Realty - National constituents together booked ₹17,589 Cr of revenue, +24.8% year-on-year, with aggregate profit +25.9% year-on-year. Figures aggregate Screener-scraped quarterly filings across the sector.

How are Realty - National operating margins trending?

Aggregate Realty - National operating margin was 21.1% in the latest reported quarter (March 2026), versus 23.3% a year earlier — margins are softening.

Which sectors is the Realty - National sector connected to?

The Realty - National sector sits in 1 cross-sector chain: as a beneficiary it connects to DI Pipes/Saw Pipes, Construction - Civil/Turnkey — Strong residential pre-sales and government focus on water/urban infra..

What is the bull case for the Realty - National sector?

Mature residential upcycle — record pre-sales velocity, luxury premiumization and a GCC-led commercial super-cycle, now meeting approval gridlock, construction cost inflation and selective leverage stress. PE contracted -33.7% from 42.97 (Mar 2023) to 28.47 (Mar 2026).

What could change the view on the Realty - National sector?

A quarterly print showing evidence that approval gridlocks are clearing, allowing for accelerated residential launches, or that construction cost inflation is rolling over, enabling a return to mid-cycle (23.1%) margins. Also worth noting: institutional money is NOT yet crowding in: FII+DII holdings moved just -0.83 percentage points across constituents over the last two quarters — the capital-flow read is neutral.

What is the research view on the Realty - National sector?

Sector Alpha does not publish trading recommendations or price calls — this is a research read, not advice. What the data says: mature expansion · mixed. The curve confirms a durable, earnings-LED upcycle (PAT +145.6% vs PE -33.7%), but both the curve and qual stream signal a maturing cycle. The curve flags that aggregate OPM has compressed to its 0th percentile (20.3%), corroborating the qual stream's warning of 5-8% construction cost inflation and approval gridlocks…. Every number on this page traces to its source column; it is machine-written research, not investment advice.

Should I invest in the Realty - National sector?

Sector Alpha does not publish sector allocations or trading calls — for Realty - National or any sector. What this page provides is a data-first read: how many constituents are in confirmed uptrends, how the sector's valuation compares with its own history, where earnings sit in their cycle, and whether capital is entering or leaving. Use it to study the sector on the evidence, then do your own diligence.

What is the Realty - National sector's relative-strength position?

Realty - National relative strength reads 13.3 on Sector Alpha's rotation map, placing it in the leaders quadrant. Relative strength is rising and has held for 1 weeks. A positive, rising relative-strength trend means the sector has been outperforming the broad market week after week.

Generated from Screener data · 10 sources · sector_why_traces/1.0 + sector-story/1.0 · SILVER

Machine-compiled sector commentary derived from the constituent companies. Descriptive research only — Sector Alpha does not publish sector allocations, price targets, or buy/sell calls. Not investment advice.