Sector analysis · India
Realty sector earnings growth, Q3 FY25
The 20 largest Realty companies by market cap at the end of Q3 FY25 (31 Dec 2024), compared with Q3 FY24.
The top 20 at Q3 FY25
Q3 FY25 vs Q3 FY24: combined net profit ₹3,635 cr (+21%), median EPS +45% (11 of 18 up), market-cap-weighted price +37%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | DLF Limited | 24.3% | 2.65 → 4.28 | +62% one-off | +13.6 pp | +14% |
| 2 | Lodha Developers Limited | 16.5% | 5.22 → 9.47 | +81% | +14.9 pp | +40% |
| 3 | Oberoi Realty Limited | 10.0% | 9.91 → 16.99 | +71% | +8.7 pp | +60% |
| 4 | Godrej Properties Limited | 10.0% | 2.24 → 5.40 | +141% | +3.4 pp | +38% |
| 5 | Prestige Estates Projects Limited | 8.7% | 2.90 → 0.41 | −86% | −3.3 pp | +44% |
| 6 | The Phoenix Mills Limited | 6.9% | 7.82 → 7.41 | −5% | −0.5 pp | +46% |
| 7 | Brigade Enterprises Limited | 3.6% | 2.39 → 7.25 | +203% | +5.5 pp | +39% |
| 8 | Anant Raj | 3.5% | 2.22 → 3.23 | +45% | +1.3 pp | +191% |
| 9 | Aditya Birla Real Estate Limited | 3.3% | 7.46 → −3.63 | to loss | −4.2 pp | +105% |
| 10 | Signatureglobal (India) Limited | 2.3% | 0.15 → 2.07 | +1,280% | +0.9 pp | +56% |
| 11 | Sobha Limited | 1.8% | 1.41 → 2.03 | +44% | +0.2 pp | +60% |
| 12 | GANESH HOUSING LIMITED | 1.2% | 12.06 → 19.29 | +60% | +2.0 pp | +202% |
| 13 | Valor Estate Limited | 1.1% | 9.26 → 0.08 | −99% | −15.5 pp | 0% |
| 14 | Man Infra | 1.1% | — → 2.24 | sources disagree | — | +13% |
| 15 | Max Estates | 1.1% | −0.21 → 1.23 | turned profitable | +0.8 pp | +83% |
| 16 | Puravankara | 1.1% | 3.28 → −3.90 | to loss | −5.8 pp | +103% |
| 17 | Keystone Realtors Limited | 1.0% | 2.65 → 1.20 | −55% | −0.5 pp | +5% |
| 18 | Sunteck Realty Limited | 0.9% | −0.66 → 2.90 | turned profitable | +1.8 pp | +14% |
| 19 | Embassy Developments Limited | 0.9% | — → 0.35 | sources disagree | — | +33% |
| 20 | Mahindra Lifespace Developers Limited | 0.9% | 2.35 → −1.05 | to loss | −2.4 pp | −15% |
| Sector earnings growth | 100% | +20.8 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q2 FY25, as market caps moved.
Joined the top 20 since Q2 FY25
Left the top 20 since Q2 FY25
- TARC Ltd
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% |
| OBEROIRLTY | +43% | −49% | +64% | +82% | +29% | +71% | −45% | −28% | +29% | +1% | +62% | +29% |
| GODREJPROP | +21% | +6% | +14% | +316% | +403% | +141% | −25% | +7% | +12% | +20% | +70% | −42% |
| 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% |
| ANANTRAJ | +80% | +57% | +51% | +71% | +67% | +45% | +51% | +38% | +30% | +24% | +18% | +13% |
| 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 |
| SOBHA | −22% | −53% | −85% | −50% | +74% | +44% | +479% | +123% | +178% | −29% | +125% | +274% |
| GANESHHOU | +344% | outside | +142% | −29% | outside | +60% | +46% | −18% | −32% | −67% | −63% | −55% |
| DBREALTY | +6% | turned profitable | loss, smaller | loss, smaller | to loss | −99% | loss, smaller | turned profitable | turned profitable | +1,337% | loss, bigger | to loss |
| MANINFRA | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | −33% | outside | outside | outside | outside |
| 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 |
| 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 |
| MAHLIFE | loss, bigger | +51% | +16,650% | turned profitable | loss, smaller | to loss | +19% | +300% | turned profitable | turned profitable | +5% | +67% |