Sector analysis · India

Realty sector earnings growth, Q1 FY27

The 20 largest Realty companies by market cap at the end of Q1 FY27 (30 Jun 2026), compared with Q4 FY26.

The top 20 at Q1 FY27

Q1 FY27 vs Q4 FY26: combined net profit ₹3,939 cr (−30%), median EPS −29% (6 of 19 up), market-cap-weighted price +28%. 20 of 20 reported.

Quarter

Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27

Compared with

YoY QoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#	Company	Weight	EPS ₹, base → now	EPS growth	Contribution	Price
1	DLF LimitedDLF	23.9%	5.12 → 3.21	−37%	−6.9 pp	+23%
2	Lodha Developers LimitedLODHA	14.9%	10.09 → 13.73	+36%	+5.3 pp	+41%
3	The Phoenix Mills LimitedPHOENIXLTD	10.9%	11.28 → 8.30	−26% one source	−1.6 pp	+29%
4	Prestige Estates Projects LimitedPRESTIGE	10.5%	5.81 → 5.48	−6%	−0.2 pp	+39%
5	Oberoi Realty LimitedOBEROIRLTY	10.0%	19.34 → 14.95	−23%	−2.3 pp	+25%
6	Godrej Properties LimitedGODREJPROP	8.8%	21.58 → 11.62	−46% one source	−4.4 pp	+27%
7	Anant RajANANTRAJ	2.9%	4.07 → 4.16	+2%	0.0 pp	+28%
8	Brigade Enterprises LimitedBRIGADE	2.5%	4.46 → 6.14	+38%	+0.8 pp	+3%
9	Aditya Birla Real Estate LimitedABREL	2.3%	— → −3.45	sources disagree	—	+18%
10	Sobha LimitedSOBHA	2.3%	8.59 → 4.75	−45%	−0.6 pp	+16%
11	Signatureglobal (India) LimitedSIGNATURE	1.6%	82.02 → −1.17	to loss	−17.1 pp	+3%
12	Embassy Developments LimitedEMBDL	1.3%	−2.33 → −1.68	loss, smaller	+1.3 pp	+57%
13	Mahindra Lifespace Developers LimitedMAHLIFE	1.2%	4.19 → 4.01	−4% one source	−0.1 pp	+25%
14	Sri Lotus Developers and Realty LimitedLOTUSDEV	1.1%	1.96 → 0.93	−53% one source	−0.7 pp	+44%
15	Max EstatesMAXESTATES	1.1%	−0.25 → 0.51	turned profitable	+0.2 pp	+39%
16	GANESH HOUSING LIMITEDGANESHHOU	1.0%	7.36 → 5.03	−32% one source	−0.3 pp	+51%
17	Kalpataru LimitedKALPATARU	1.0%	9.74 → −1.29	to loss	−3.3 pp	+15%
18	Valor Estate LimitedDBREALTY	0.9%	−1.09 → −0.02	loss, smaller	+0.8 pp	+32%
19	Keystone Realtors LimitedRUSTOMJEE	0.8%	5.04 → 4.15	−18% one source	−0.2 pp	+12%
20	PuravankaraPURVA	0.8%	4.78 → 1.22	−74%	−1.2 pp	+32%
	Sector earnings growth	100%			−30.4 pp

Who joined and who left

1 joined and 1 left the top 20 since Q4 FY26, as market caps moved.

Joined the top 20 since Q4 FY26 1

now #20 Puravankara PURVA

Left the top 20 since Q4 FY26 1

was #20 Sunteck Realty Limited SUNTECK

EPS growth by company, Q2 FY24 to Q1 FY27

Each company's EPS growth quarter on quarter, every quarter it was in the top 20.

≤ −40%−20%0+20%≥ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at ±40%.

turned profitableto loss crossed zero, so there is no growth rate to print
loss, smallerloss, bigger a loss in both quarters
sources disagree our two sources disagree, so the figure is left out of the sector totals
outside not in the sector's top 20 that quarter

EPS growth of each company in the sector's top 20, by quarter
Company	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
DLF	+18%	+5%	+40%	−30%	+114%	−23%	+21%	−41%	+55%	+2%	+5%	−37%
LODHA	+13%	+150%	+28%	−29%	−11%	+123%	−2%	−27%	+17%	+21%	+5%	+36%
PHOENIXLTD	+5%	+11%	+17%	−29%	−6%	+21%	+1%	−11%	+26%	−9%	+46%	−26%
PRESTIGE	+168%	−86%	+20%	+66%	−23%	−91%	+41%	+1,071%	+47%	−48%	+12%	−6%
OBEROIRLTY	+42%	−21%	+119%	−26%	+1%	+5%	−30%	−3%	+81%	−18%	+13%	−23%
GODREJPROP	−47%	−7%	+657%	+10%	−36%	−55%	+135%	+57%	−32%	−52%	+233%	−46%
ANANTRAJ	+19%	+20%	+3%	+16%	+16%	+5%	+7%	+6%	+10%	0%	+1%	+2%
BRIGADE	+247%	−45%	+180%	−59%	+34%	+99%	+5%	−39%	+8%	+15%	−22%	+38%
ABREL	loss, bigger	turned profitable	−95%	+106%	−67%	to loss	loss, bigger	loss, smaller	loss, smaller	loss, bigger	sources disagree	sources disagree
SOBHA	+24%	+1%	−53%	−14%	+328%	−17%	+88%	−67%	+434%	−79%	+497%	−45%
SIGNATURE	loss, bigger	turned profitable	+1,853%	−84%	−40%	+614%	+110%	−44%	to loss	loss, smaller	turned profitable	to loss
EMBDL	loss, smaller	loss, bigger	loss, bigger	sources disagree	sources disagree	sources disagree	sources disagree	to loss	loss, smaller	loss, bigger	loss, bigger	loss, smaller
MAHLIFE	loss, bigger	turned profitable	+43%	−82%	to loss	loss, bigger	turned profitable	−40%	−6%	+127%	−18%	−4%
LOTUSDEV	outside	outside	outside	outside	outside	outside	outside	outside	+81%	+52%	+37%	−53%
MAXESTATES	outside	to loss	outside	turned profitable	+18%	+846%	−12%	−34%	−37%	to loss	loss, bigger	turned profitable
GANESHHOU	−47%	outside	+12%	+1%	outside	+1%	+3%	−44%	+16%	−50%	+14%	−32%
KALPATARU	outside	outside	outside	outside	outside	outside	outside	outside	turned profitable	to loss	turned profitable	to loss
DBREALTY	turned profitable	−47%	to loss	loss, bigger	loss, bigger	turned profitable	to loss	turned profitable	−17%	+505%	to loss	loss, smaller
RUSTOMJEE	−91%	+597%	+2%	−24%	+157%	−77%	+328%	−78%	−41%	−60%	+1,767%	−18%
PURVA	loss, smaller	turned profitable	to loss	turned profitable	to loss	loss, bigger	loss, smaller	loss, smaller	loss, smaller	outside	outside	−74%