The real estate industry in India is one of the most significant contributors to the country’s economy, driven by urbanization, infrastructure development, and a growing middle class. India’s real estate sector is experiencing rapid growth, valued at USD 477 billion in 2022 and projected to reach USD 1 trillion by 2030 with a CAGR of 24.25%.
In residential real estate, home prices rose 4.3% in 2023 and are expected to increase 7.75% in 2025. Sales hit an 11-year high in H1 2024, with 1,73,241 units sold (+10.6% YoY) and 183,401 units launched (+5.79% YoY). Luxury housing saw a 51% YoY growth, with 41% of sales in the INR 1 crore+ segment. In this article, we cover the top real estate companies in India.
The commercial sector is expanding, with strong demand for Grade A office spaces in Bengaluru, Mumbai, and Delhi-NCR, alongside rising flexible workspaces and logistics infrastructure. Future growth is driven by urbanization, FDI, smart cities, and sustainable practices, with RERA enhancing transparency and investor confidence. With the steady performance and quick revival, the real estate sector regained the buyers’ and investors’ trust and has further picked up the growth momentum.
The government has also come out with several relaxations and schemes to support the industry. The real estate sector is the second largest employment generator after agriculture in India, providing around 5.5 crore people. It is also expected that this sector will receive more non-resident Indian (NRI) investment, both in the short term and the long term.
List of Top 10 Real Estate Stocks in India
Below is the list of best real estate stocks in descending order of their 3 years returns:
| Company Name | Mar Cap (INR Cr.) | P/E Ratio | Debt / Eq | ROE (%) | 3Yrs return (%) |
| Anant Raj | 16,998.84 | 44.1 | 0.10 | 8.05 | 92.97 |
| Phoenix Mills | 57,745.38 | 55.9 | 0.47 | 12.13 | 48.14 |
| Prestige Estates Projects | 47,830.37 | 82.1 | 0.75 | 12.90 | 37.66 |
| Brigade Enterprises | 23,070.17 | 36.2 | 1.05 | 11.71 | 28.85 |
| Macrotech Developers | 113,319.52 | 45.2 | 0.44 | 10.74 | 25.18 |
| DLF Ltd | 165,536.44 | 44.1 | 0.11 | 6.95 | 22.30 |
| Oberoi Realty | 56,874.64 | 22.1 | 0.14 | 13.49 | 18.48 |
| Sobha Ltd | 13,035.89 | 214.1 | 0.44 | 1.97 | 18.45 |
| Godrej Properties | 61,269.79 | 41.3 | 1.25 | 6.79 | 9.76 |
| Valor Estate | 6,668.92 | – | 0.40 | 34.70 | 5.75 |
Top Real Estate Companies in India
#1 Anant Raj – Biggest Among the best Real Estate Stocks in India
Anant Raj Limited has established itself as a significant player in the North Indian real estate sector, with a legacy dating back to the 1970s. The company initially focused on government contracting before expanding into high-end real estate development. With a diversified portfolio spanning residential, commercial, hospitality, and data centers, Anant Raj is positioned as a growth-centric developer.
What makes Anant Raj a compelling real estate stock is its strategic expansion into data centers and its extensive land bank. The company has consistently strengthened its balance sheet and diversified revenue streams, making it an attractive choice for long-term investors.
#2 Phoenix Mills – The Retail Powerhouse
Phoenix Mills stands as a beacon in the Indian retail and commercial real estate landscape. With a footprint spanning major metropolitan cities, the company has a dominant presence in the shopping mall sector. In recent years, Phoenix Mills has ventured into mixed-use developments, combining residential, commercial, and hospitality spaces. Their ongoing projects reflect a strategic move towards creating integrated ecosystems that cater to diverse customer needs, reinforcing their position as industry innovators.
Phoenix Mills is among the best real estate stocks due to its strong rental income model and aggressive expansion strategy. Its focus on retail-led mixed-use developments ensures steady revenue, while upcoming projects promise further growth.
#3 Prestige Estates Projects – Expanding Luxury and Mid-Segment Housing
Prestige Estates Projects has been a cornerstone in South India’s real estate sector, with a market capitalization of INR 47,830.37 crore and a P/E ratio of 82.1. The company’s portfolio spans residential, commercial, retail, and hospitality segments, showcasing their versatility. One of their landmark developments, the Prestige Shantiniketan in Bengaluru, is a testament to their commitment to creating integrated townships. This project seamlessly blends residential units with commercial office spaces and retail outlets, offering residents a holistic living experience.
Currently, Prestige Estates is focusing on expanding its presence in key markets with projects like Prestige City, a sprawling township that includes villas, apartments, and commercial spaces. Their strategic approach to urban development continues to set benchmarks in the industry. Prestige Estates is a top pick due to its extensive presence across residential and commercial sectors. The company’s expansion into new markets and robust sales make it a compelling long-term investment.
#4 Brigade Enterprises – Innovating Urban Living
Brigade Enterprises has carved a niche in the real estate sector with a market capitalization of INR 23,070.17 crore and a P/E ratio of 36.2. The company’s diverse portfolio includes residential, commercial, and hospitality projects, reflecting their comprehensive approach to real estate development. A notable project, Brigade Gateway in Bengaluru, exemplifies their vision of integrated urban living. This enclave houses residential apartments, the World Trade Center, a shopping mall, and a luxury hotel, creating a self-sustained community.
With a balanced mix of residential and commercial assets, Brigade Enterprises remains a key player in India’s real estate sector. Its strong rental income and focus on sustainability add to its investment appeal.
#5 Macrotech Developers (Lodha Group) – Transforming the Mumbai Skyline
Macrotech Developers, formerly known as Lodha Group, boasts a market capitalization of INR 113,319.52 crore and a P/E ratio of 45.2. Renowned for its luxury residential developments, the company has significantly influenced Mumbai’s skyline. The Lodha World Towers in Mumbai, featuring some of the tallest residential buildings in India, highlight their ambition and architectural prowess. These towers offer ultra-luxurious residences with state-of-the-art amenities, catering to the elite segment.
Currently, Macrotech is developing Palava City, envisioned as India’s first greenfield smart city. This project underscores their commitment to sustainable urbanization, integrating smart technologies with eco-friendly infrastructure to enhance the quality of life for its residents.
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#6 DLF
DLF is the largest publicly listed real estate company in India, with residential, commercial, and retail properties in 15 states and 24 cities and it makes an entry in the list of best real estate stocks by its sheer size. Nevertheless, the majority of its operations are based out of Delhi National Capital Region (NCR). The company’s business model is somewhat differentiated given the relatively high exposure to recurring revenue from rentals.
The company’s recent launch, The Dahlias in DLF 5, Gurgaon, an uber-luxury project, received an overwhelming response, with 173 units worth INR 11,820 crore sold in nine weeks. DLF’s ongoing projects continue to focus on luxury and premium segments, reinforcing their leadership position in the real estate market. Their strategic developments in prime locations have consistently attracted high-end clientele.
#7 Oberoi Realty
Oberoi Realty is a real estate development company headquartered in Mumbai. The company’s focus on premium residential and commercial projects has garnered significant attention. Its recent project launch in Thane received a strong response, contributing to a 143.8% growth in pre-sales during Q3 FY25.
Oberoi Realty’s one-year return stands at a staggering 12.1% underlining why it is among the best real estate stocks in India. In the last 3 years, the company registered a 29.9% CAGR in sales revenues. The same metric stands at just 11.7% for a 5-year timeframe.
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#8 Sobha Ltd
Sobha, with a market capitalization of INR 13,035.89 crore and a P/E ratio of 214.1, is known for its backward integration model, ensuring quality across all project facets. The company has a strong presence in residential and contractual projects.
Ongoing Projects:
- Sobha Dream Acres, Bengaluru – A residential project aimed at first-time homebuyers.
- Sobha Windsor, Bengaluru – A luxury colonial-themed apartment development.
#9 Godrej Properties
Godrej Properties, part of the Godrej Group, is a leading real estate developer in India. It specializes in residential, commercial, and township projects across major cities. Known for quality construction and sustainable development, the company has delivered several notable projects in cities like Mumbai, Delhi, and Bengaluru.
Ongoing Projects:
- Godrej Habitat, Gurugram – A smart residential project with high-security features.
- Godrej Woods, Noida – A premium residential complex nestled amidst lush greenery.
Completed Projects:
- Godrej Platinum, Mumbai – A high-end residential project with state-of-the-art amenities.
- Godrej Palm Retreat, Noida – A resort-style living space with world-class features.
#10 Valor Estate
Valor Estate, formerly DB Realty, has rapidly emerged as a top Indian real estate developer since 2007. With 100 million sq. ft. across 35 projects, it serves 20,000 customers. Focused on excellence in residential, commercial, and gated communities, most developments are in Mumbai and managed by 15,000 experts.
The company is focused on delivering high-quality residential and commercial developments in metro cities. Valor Estate reported a YoY increase in net sales, reaching INR 329.5 crore for Q3 FY25.
Future Outlook
As the demand for urban spaces continues to rise, these real estate giants are investing heavily in infrastructure, sustainable developments, and smart city concepts. The integration of AI-driven technology in property management, green buildings, and energy-efficient structures is reshaping the industry. Additionally, emerging developers are focusing on affordable housing and middle-income housing segments, providing balance to the high-end developments in the market.
Conclusion
The real estate landscape in India is evolving at an unprecedented pace, with developers pushing boundaries in architectural innovation, infrastructure planning, and sustainability. The focus on integrated townships, premium commercial spaces, and cutting-edge technology is making Indian cities more liveable and attractive for investment. As these industry leaders continue to expand their portfolios and adopt futuristic building techniques, the Indian real estate market is poised for transformative growth in the coming decade.