Sector analysis · India
Realty sector earnings growth, Q2 FY26
The 20 largest Realty companies by market cap at the end of Q2 FY26 (30 Sep 2025), compared with Q2 FY25.
The top 20 at Q2 FY26
Q2 FY26 vs Q2 FY25: combined net profit ₹4,218 cr (+22%), median EPS +29% (11 of 18 up), market-cap-weighted price −21%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | DLF Limited | 25.3% | 5.58 → 4.77 | −15% | −5.3 pp | −20% |
| 2 | Lodha Developers Limited | 16.3% | 4.25 → 7.90 | +86% | +9.6 pp | −8% |
| 3 | Prestige Estates Projects Limited | 9.3% | 4.46 → 9.99 | +124% | +6.3 pp | −18% |
| 4 | Godrej Properties Limited | 8.5% | 12.06 → 13.45 | +12% | +1.8 pp | −38% |
| 5 | Oberoi Realty Limited | 8.2% | 16.21 → 20.91 | +29% | +4.5 pp | −16% |
| 6 | The Phoenix Mills Limited | 8.0% | 6.10 → 8.50 | +39% | +2.3 pp | −16% |
| 7 | Anant Raj | 3.4% | 3.09 → 4.02 | +30% | +0.9 pp | −1% |
| 8 | Brigade Enterprises Limited | 3.1% | 3.65 → 4.99 | +37% | +1.1 pp | −37% |
| 9 | Aditya Birla Real Estate Limited | 2.7% | 0.23 → −1.41 | to loss | −0.5 pp | −41% |
| 10 | Sobha Limited | 2.4% | 2.44 → 6.78 | +178% | +1.2 pp | −10% |
| 11 | Signatureglobal (India) Limited | 2.1% | 0.29 → −3.34 | to loss | −1.3 pp | −34% |
| 12 | Embassy Developments Limited | 1.8% | — → −1.11 | sources disagree | — | −28% |
| 13 | Sri Lotus Developers and Realty Limited | 1.3% | — → 0.94 | — | — | — |
| 14 | Valor Estate Limited | 1.3% | −2.12 → 0.19 | turned profitable | +3.3 pp | −15% |
| 15 | Kalpataru Limited | 1.1% | 2.16 → 0.26 | −88% | −0.6 pp | — |
| 16 | Mahindra Lifespace Developers Limited | 1.1% | −0.66 → 2.25 | turned profitable | +1.6 pp | −9% |
| 17 | Max Estates | 1.1% | 0.13 → 0.45 | +246% | +0.1 pp | −25% |
| 18 | Keystone Realtors Limited | 1.1% | 5.26 → 0.68 | −87% | −1.5 pp | −19% |
| 19 | GANESH HOUSING LIMITED | 1.0% | 19.01 → 12.96 | −32% | −1.3 pp | 0% |
| 20 | Puravankara | 0.9% | −0.71 → −1.76 | loss, bigger | −0.7 pp | −34% |
| Sector earnings growth | 100% | +21.6 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q1 FY26, as market caps moved.
Joined the top 20 since Q1 FY26
Left the top 20 since Q1 FY26
- Man Infra
- Sunteck Realty 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% |
| PRESTIGE | +505% | −9% | −70% | −27% | −79% | −86% | −83% | +17% | +124% | +1,161% | +902% | −19% |
| 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% |
| PHOENIXLTD | +36% | +58% | +29% | −3% | −14% | −5% | −18% | +3% | +39% | +4% | +50% | +23% |
| ANANTRAJ | +80% | +57% | +51% | +71% | +67% | +45% | +51% | +38% | +30% | +24% | +18% | +13% |
| 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 |
| SOBHA | −22% | −53% | −85% | −50% | +74% | +44% | +479% | +123% | +178% | −29% | +125% | +274% |
| SIGNATURE | loss, smaller | turned profitable | +380% | turned profitable | turned profitable | +1,280% | +48% | +410% | to loss | to loss | +1,786% | to loss |
| 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 |
| LOTUSDEV | outside | outside | outside | outside | outside | outside | outside | outside | — | +42% | +14% | +79% |
| DBREALTY | +6% | turned profitable | loss, smaller | loss, smaller | to loss | −99% | loss, smaller | turned profitable | turned profitable | +1,337% | loss, bigger | to loss |
| KALPATARU | outside | outside | outside | outside | outside | outside | outside | outside | −88% | loss, bigger | +1,332% | loss, smaller |
| MAHLIFE | loss, bigger | +51% | +16,650% | turned profitable | loss, smaller | to loss | +19% | +300% | turned profitable | turned profitable | +5% | +67% |
| MAXESTATES | outside | — | outside | — | +820% | turned profitable | turned profitable | +545% | +246% | to loss | to loss | −28% |
| RUSTOMJEE | turned profitable | +464% | −60% | −50% | +1,284% | −55% | +91% | −44% | −87% | −77% | −2% | +261% |
| GANESHHOU | +344% | outside | +142% | −29% | outside | +60% | +46% | −18% | −32% | −67% | −63% | −55% |
| PURVA | loss, smaller | +245% | to loss | turned profitable | loss, bigger | to loss | loss, bigger | to loss | loss, bigger | outside | outside | turned profitable |