Residential, Commercial Projects industry
179 companies · ₹7.7 L cr · 29 with AI deep dives · Q1FY27 report
ASP inflation and collections lead volumes as nine developers bet their FY27 on H2 festive launch execution
- Revenue YoY
- +17.4%
- EBITDA margin
- 26.1%
- +570bps YoY
- Price, 1 year
- -1.6%
- 47% of names up
- P/E vs own 5y
- -4.5%
- 27.4x now
Exhibit 1The quarter in numbers
constant panel of 46 companies above ₹500 cr- Jun 26
- 23,552 cr
- Mar 26
- 32,103 cr
- QoQ
- -26.6%
- Jun 25
- 20,064 cr
- YoY
- +17.4%
- Peak
- 32,103 cr
- vs peak
- -26.6%
- Jun 26
- 26.1%
- Mar 26
- 21.2%
- QoQ
- +490bps
- Jun 25
- 20.4%
- YoY
- +570bps
- Peak
- 26.1%
- vs peak
- 0bps
Breadth: 68% of 50 companies grew revenue year on year (was 68% a quarter earlier) and 52% expanded margin (was 45%).
Exhibit 2What it costs
19.28x - 36.89x across the panel todayThe median name trades at 27.4x, -4.5% against this industry's own 5-year median of 28.7x, and -35.4% against its own peak of 42.4x.
Exhibit 3Structure
₹7.7 L crDLF Ltd is 21.5% of this industry by market cap. The top 5 are 63.9% and the top 10 are 81%.
Exhibit 4Screen
P/E below the sub-industry median of 27.4x, 5y ROCE above its median of 6.41%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (25 of 171)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹64,825 cr
- P/E
- 58.4x
- EV/EBITDA
- 18.9x
- ROCE
- 12.8%
- Margin
- 30.9%
- Rev YoY
- +15.9%
- Mcap
- ₹10,214 cr
- P/E
- 39.4x
- EV/EBITDA
- 31.3x
- ROCE
- 16.7%
- Margin
- 40.4%
- Rev YoY
- +115.8%
- Mcap
- ₹7,535 cr
- P/E
- 23.0x
- EV/EBITDA
- -1008.7x
- ROCE
- 3.4%
- Margin
- -0.6%
- Rev YoY
- +2909.4%
- Mcap
- ₹2,939 cr
- P/E
- 15.3x
- EV/EBITDA
- 11.6x
- ROCE
- 10.7%
- Margin
- 40.9%
- Rev YoY
- +40.3%
- Mcap
- ₹2,300 cr
- P/E
- 15.1x
- EV/EBITDA
- 9.8x
- ROCE
- 13.5%
- Margin
- 27.9%
- Rev YoY
- +22.6%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30At least nine managements described Q1 as deliberately light on new launches: DLF awaiting RERA on Aureva; Lodha launching 'almost nothing on the residential side'; Brigade with…
- LODHA (Q1FY27): “Pre-sales for the quarter were INR 46.3 billion, up 4% year-on-year. That is below our…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
Create a free account →AppendixThe other 146 companies
1-30- Mcap
- ₹3,881 cr
- P/E
- 31.7x
- EV/EBITDA
- 783.7x
- ROCE
- 16.7%
- Margin
- 0.8%
- Rev YoY
- +1016.4%
- Mcap
- ₹1,446 cr
- P/E
- -
- EV/EBITDA
- 142.0x
- ROCE
- 34.8%
- Margin
- 22.3%
- Rev YoY
- -19.5%
- Mcap
- ₹935 cr
- P/E
- 13.1x
- EV/EBITDA
- 12.2x
- ROCE
- 15.8%
- Margin
- 23.5%
- Rev YoY
- +62.5%
- Mcap
- ₹777 cr
- P/E
- 21.4x
- EV/EBITDA
- 22.4x
- ROCE
- 10.3%
- Margin
- 23.6%
- Rev YoY
- +71.0%
- Mcap
- ₹640 cr
- P/E
- 10.2x
- EV/EBITDA
- 11.4x
- ROCE
- 24.0%
- Margin
- 15.1%
- Rev YoY
- +127.6%
- Mcap
- ₹619 cr
- P/E
- -
- EV/EBITDA
- 8.6x
- ROCE
- 23.6%
- Margin
- 22.0%
- Rev YoY
- +134.5%
- Mcap
- ₹373 cr
- P/E
- 9.1x
- EV/EBITDA
- 8.5x
- ROCE
- 31.0%
- Margin
- 35.2%
- Rev YoY
- +164.1%
116 more companies
This industry has 146 constituents beyond the covered names. The first page is free; premium opens the rest.
See plans →