Top 10 real estate stocks in India [2024 Upgrading List]

The Indian stock market includes various sectors, with real estate being an important one. Investing in top 10 real estate stocks in India is the best strategy because it combines the benefits of owning physical assets with the flexibility of stocks. This allows people to invest in real estate without the hassle of managing properties. 

Real estate stocks give investors a chance to benefit from the growing real estate market in India. The sector includes various properties, such as homes, commercial projects, and industrial spaces. The market has been growing quickly due to urbanization, higher disposable incomes, and strong government support. 

Government programs like the Smart Cities Mission, housing for all, and the Real Estate Regulation and Development Act (RERA) have made the market more transparent and protected buyers’ interests, encouraging more investments. 

As cities grow and infrastructure improves, the real estate industry is expected to keep growing, providing good opportunities for investors. This article, Top 10 Real Estate Stocks in India, covers the importance, trends, and factors that affect real estate stocks, as well as their benefits and challenges for investors in the Indian stock market.

Top 10 Real Estate Stocks in India

DLF LTD 

Delhi Land & Finance (DLF) is India’s largest real estate company, established by Chaudhary Raghvendra Singh in 1946. The company operates 15 states and 24 cities, commercial, and retail properties. DLF’s notable projects include options such as DLF Emporio Mall and DLF Cyberhub. The company also offers a variety of housing options like duplexes, condominiums, row houses, and apartments in major cities such as Delhi, Haryana, and Maharashtra.

In March 2024, DLF reported a 12% increase in revenue, reaching Rs. 6,427 crore. However, its profit after tax (PAT) dropped to Rs 1,251 crore from Rs 2,310 crore in March 2023. In the first quarter of the fiscal year 2024 (Q1FY24), DLF’s revenue rose to Rs 2,134 crore, up from Rs 1,456 crore in Q1FY23.

DLF’s growth is supported by its diverse divisions and strategic projects. In addition to real estate development, the company owns and operates two hotels: The Lodhi and Hilton Garden Inn. As a major player in the Indian real estate market, DLF continues to leverage its extensive portfolio and strategic initiatives to maintain its leading position and growth potential in the industry.

Prestige Estates

Prestige Estates is one of the top 10 real estate stocks in India with a market valuation of Rs 15,200 crores. It is well-known for its steady growth potential, making it an attractive option for investors seeking exposure to India’s real estate market. The company offers opportunities for capital appreciation and dividends, providing a balanced investment choice. 

Prestige Estates’ reputation for reliability and consistent performance further enhances its appeal to investors looking for long-term growth in the real estate industry.

Godrej Properties

Godrej Properties, founded in 1897 and part of Godrej Group, is a prominent player in India’s real estate market. The company focuses on residential development and operates in 12 cities, with a major presence in the Mumbai metropolitan area, the National Capital Region, and Bengaluru.

The company’s revenue in March was at Rs 3,035 crores, up from Rs 2,252 crores in FY22. 

Oberoi Realty

Oberoi Realty, a leading luxury real estate company in Mumbai with a four-decade history, reported significant growth. In March 2024, total income grew 56% to Rs 4,495 crores, and net profit increased by 13.8% to Rs 1,917 crores.

The company has a market valuation of Rs 24, 000 crores. Oberoi Realty attracts investors seeking capital growth in the real estate sector.

Phoenix Mills Ltd. 

The company specialises in retail and commercial real estate, focussing on developing malls and entertainment properties. Their portfolio includes notable assets such as Phoenix Palladium and Phoenix Market City. In March 2024, the company reported a revenue increase to Rs 3,977 crores from Rs 1,472 crores. For Q1 FY24, revenue rose to Rs 1,305 crores from Rs 729 crores in Q1 FY23, and net profit increased to Rs 388 crores from Rs 293 crores. Phoenix Mills offers investors diverse market exposure through its extensive portfolio of retail and entertainment properties.

Brigade Enterprises

Brigade Enterprises is significant within India’s real estate sector due to its varied portfolio comprising residential, office spaces, hospitality establishments, and retail ventures across cities such as Bengaluru & Chennai. In FY2024-end March, the company recorded a total revenue of ₹2,224 crores decreased from ₹2,425 Crore in March 2023. Profit after tax was at ₹318.19 crores compared to the previous year’s figure of  ₹384.98 crores.

Raymond Realty

Raymond Realty has achieved notable progress within the real estate industry by concentrating on providing aspirational living spaces through recent residential developments expanding its portfolio. For Q2 FY  2025, the company’s revenue from their real-estate division was at INR ₹571 crores, signifying a substantial growth compared to the same period of last year (up around 135%). Total income for both arms – Real Estate & Engineering businesses aggregated to Rs.1,096 Crore in Q2 FY 2024-FY 2025. The company consistently innovates with projects like Park Avenue-High Street Reimagined, displaying a commitment towards quality standards and timely delivery of such ventures.

Puravankara

Puravankara is recognized for its expansive residential developments, and continuously growing presence across various urban areas. In the September 2024 financial results declaration, the company reported net sales of ₹275.37 crores which marked a significant year-on-year increase by 47.22%. Their overall operating income corresponds with its expansion strategy focusing on delivering high-quality residential projects while maintaining cost efficiency throughout their operations across different cities.

Sunteck Realty

SUnteck Realty is a prominent real estate developer in India focussing on luxury residential and commercial projects. The company is known for its premium properties in Mumbai and has a reputation for quality construction and timely delivery.

In March 2024, the company reported revenue of Rs 2,450 crores, up from Rs 1,980 crores in March 2023. The net profit during this period was Rs 650 crores, compared to Rs 570 crores in the previous years. For Q1 FY24, the company’s revenue stood at Rs 710 crores, up from Rs 520 crores in Q1 FY23, with a net profit of Rs 210 crores, compared to Rs 180 crores in the same period the previous year.

Nesco Ltd   

Nesco Ltd., an Indian-based company, specialises in the development of IT parks, industrial complexes, and exhibition centres. The company is known for its flagship project, the Bombay Exhibition Centre, which is one of the largest exhibition centres in India.

In March 2024, Nesco Ltd reported a revenue of Rs 2,105 crores, up from Rs 1,890 crores in March 2023. The net profit during the period was Rs 680 crore, an increase from Rs 670 crore in the previous year.

Conclusion 

The Indian real estate sector offers diverse investment opportunities through these top 10 real estate stocks in India, known for their expansive portfolios and focus on quality. Companies such as Prestige Estates and Sobha LTs provide stability with their established market presence, while Phoenix Mills and Sunteck Realty excel in luxury and commercial properties.

Investors can tap into the sector’s growth by selecting the top 10 real estate stocks in India to align their investment goals and benefit from expanding India’s urban and economic landscape.