Top 10 real estate stocks in India [2024 Updated 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 urbanisation, 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.

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.

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. 

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.

Sobha Ltd

A Sobha Limited, a renowned Indian real estate firm valued at Rs 8,700 crores, is known for quality construction and a customer-centric approach. In March 2024, it reported a total income of Rs 3,096 crores, down 6% from Rs 3,310 crores in March 2023, with profits dropping to Rs 1,209 crores from Rs 104 crores in Q1 FY24. Revenue rose to Rs 762 crores from Rs 1,209 crores in Q1 FY23. The stock’s 52-week high and low are Rs 600 and Rs 400, respectively, with a P/E ratio of 30.80, a book value per share of Rs 90, and a 0.75% dividend yield.

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.

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.

Mahindra Lifespace

Mahindra Lifespace is a leading residential development company known for pioneering green homes in India. It has completed 48 projects and operates in 9 cities. The company focusses on sustainable and innovative developments, including apartments, integrated towns, and industrial clusters. 

In March 2024, revenue was Rs 212 crores, a 64% drop from Rs 606 crores in March 2023, but consolidated PAT improved to Rs 81 crores the previous year.

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.

Embassy Office Parks 

The Embassy Office is a prominent player in the commercial real estate sector in India, specialising in office space development and management. The company focuses on creating large-scale office parks and has a significant presence in key cities like Bangalore, Mumbai, and Pune. Embassy office parks are known for their high-quality, modern office spaces catering to a wide range of businesses.

In March 2024, Embassy Office Parks reported a revenue of Rs 1,800 crore, up from Rs 1,500 crore in March 2023. The net profit for the period was Rs 400 crore, an increase from Rs 350 crore the previous year.

The company’s strong financial performance and focus on prime commercial properties make it a significant player in the Indian office space market, attracting investors seeking steady returns and growth in the commercial real estate sector.

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.