Sector analysis · India
Realty sector earnings growth, Q3 FY24
The 20 largest Realty companies by market cap at the end of Q3 FY24 (31 Dec 2023), compared with Q3 FY23.
The top 20 at Q3 FY24
Q3 FY24 vs Q3 FY23: combined net profit ₹2,761 cr (+47%), median EPS +26% (13 of 18 up), market-cap-weighted price +58%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | DLF Limited | 30.3% | 2.10 → 2.65 | +26% | +4.4 pp | +94% |
| 2 | Lodha Developers Limited | 16.1% | 4.20 → 5.22 | +24% | +3.2 pp | −6% |
| 3 | Godrej Properties Limited | 9.4% | 2.11 → 2.24 | +6% | +0.1 pp | +64% |
| 4 | Oberoi Realty Limited | 8.8% | 19.30 → 9.91 | −49% | −11.0 pp | +66% |
| 5 | Prestige Estates Projects Limited | 8.0% | 3.19 → 2.90 | −9% | −0.4 pp | +154% |
| 6 | The Phoenix Mills Limited | 6.8% | 4.94 → 7.82 | +58% | +3.3 pp | +58% |
| 7 | Brigade Enterprises Limited | 3.5% | 1.85 → 2.39 | +29% | +0.5 pp | +93% |
| 8 | Aditya Birla Real Estate Limited | 2.3% | 0.78 → 7.46 | +856% | +2.4 pp | +71% |
| 9 | Signatureglobal (India) Limited | 2.1% | −3.60 → 0.15 | turned profitable | +1.5 pp | — |
| 10 | Anant Raj | 1.6% | 1.41 → 2.22 | +57% | +0.8 pp | +163% |
| 11 | Sobha Limited | 1.6% | 2.97 → 1.41 | −53% | −0.5 pp | +71% |
| 12 | Valor Estate Limited | 1.5% | −18.11 → 9.26 | turned profitable | +35.0 pp | +98% |
| 13 | Mahindra Lifespace Developers Limited | 1.4% | 1.56 → 2.35 | +51% | +0.5 pp | +49% |
| 14 | Man Infra | 1.4% | — → 2.33 | sources disagree | — | +192% |
| 15 | Keystone Realtors Limited | 1.2% | 0.47 → 2.65 | +464% | +0.8 pp | +29% |
| 16 | Sunteck Realty Limited | 1.1% | 0.14 → −0.66 | to loss | −0.4 pp | +35% |
| 17 | Embassy Developments Limited | 0.8% | −4.37 → −0.71 | loss, smaller | +6.4 pp | +7% |
| 18 | Max Estates | 0.8% | — → −0.21 | — | — | — |
| 19 | Puravankara | 0.7% | 0.95 → 3.28 | +245% | +1.8 pp | +103% |
| 20 | TARC Ltd | 0.7% | 0.05 → −1.13 | to loss | −1.1 pp | +222% |
| Sector earnings growth | 100% | +47.4 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q2 FY24, as market caps moved.
Joined the top 20 since Q2 FY24
Left the top 20 since Q2 FY24
- GANESH HOUSING LIMITED
- Kolte - Patil Developers Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, every quarter it was in the top 20.
| 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 | +31% | +26% | +62% | +23% | +121% | +62% | +39% | +18% | −15% | +14% | −1% | +4% |
| LODHA | turned profitable | +24% | −13% | +158% | +103% | +81% | +38% | +41% | +86% | +1% | +9% | +103% |
| GODREJPROP | +21% | +6% | +14% | +316% | +403% | +141% | −25% | +7% | +12% | +20% | +70% | −42% |
| OBEROIRLTY | +43% | −49% | +64% | +82% | +29% | +71% | −45% | −28% | +29% | +1% | +62% | +29% |
| PRESTIGE | +505% | −9% | −70% | −27% | −79% | −86% | −83% | +17% | +124% | +1,161% | +902% | −19% |
| PHOENIXLTD | +36% | +58% | +29% | −3% | −14% | −5% | −18% | +3% | +39% | +4% | +50% | +23% |
| BRIGADE | +72% | +29% | +197% | +118% | −16% | +203% | +13% | +69% | +37% | −21% | −41% | +33% |
| ABREL | to loss | +856% | −97% | turned profitable | turned profitable | to loss | to loss | to loss | to loss | loss, bigger | sources disagree | loss, bigger |
| SIGNATURE | loss, smaller | turned profitable | +380% | turned profitable | turned profitable | +1,280% | +48% | +410% | to loss | to loss | +1,786% | to loss |
| ANANTRAJ | +80% | +57% | +51% | +71% | +67% | +45% | +51% | +38% | +30% | +24% | +18% | +13% |
| SOBHA | −22% | −53% | −85% | −50% | +74% | +44% | +479% | +123% | +178% | −29% | +125% | +274% |
| DBREALTY | +6% | turned profitable | loss, smaller | loss, smaller | to loss | −99% | loss, smaller | turned profitable | turned profitable | +1,337% | loss, bigger | to loss |
| MAHLIFE | loss, bigger | +51% | +16,650% | turned profitable | loss, smaller | to loss | +19% | +300% | turned profitable | turned profitable | +5% | +67% |
| MANINFRA | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | −33% | outside | outside | outside | outside |
| RUSTOMJEE | turned profitable | +464% | −60% | −50% | +1,284% | −55% | +91% | −44% | −87% | −77% | −2% | +261% |
| SUNTECK | to loss | to loss | turned profitable | turned profitable | turned profitable | turned profitable | −50% | +46% | outside | +37% | +26% | outside |
| EMBDL | to loss | loss, smaller | loss, smaller | sources disagree | sources disagree | sources disagree | turned profitable | sources disagree | sources disagree | sources disagree | to loss | loss, bigger |
| MAXESTATES | outside | — | outside | — | +820% | turned profitable | turned profitable | +545% | +246% | to loss | to loss | −28% |
| PURVA | loss, smaller | +245% | to loss | turned profitable | loss, bigger | to loss | loss, bigger | to loss | loss, bigger | outside | outside | turned profitable |
| TARC | outside | to loss | to loss | outside | sources disagree | outside | outside | outside | outside | outside | outside | outside |