Earnings Miss: Macrotech Developers Limited Missed EPS By 15% And Analysts Are Revising Their Forecasts
Apr 27
Indian (NIFTY) Real Estate Sector Analysis
UpdatedMay 08, 2024
DataAggregated Company Financials
Companies187
- 7D-2.5%
- 3M5.1%
- 1Y88.3%
- YTD17.8%
Over the last 7 days, the Real Estate industry has dropped 2.5%, driven by a pullback from Macrotech Developers of 10%. In contrast, Prestige Estates Projects has gained 12%. This takes the industry's 12 month performance to a gain of 88%. As for the next few years, earnings are expected to grow by 30% per annum.
Sector Valuation and Performance
Has the Indian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 09 May 2024 | ₹8.7t | ₹754.4b | ₹137.7b | 32.7x | 62.9x | 11.5x |
| Sat, 06 Apr 2024 | ₹8.7t | ₹749.1b | ₹132.3b | 32.9x | 65.4x | 11.5x |
| Mon, 04 Mar 2024 | ₹8.5t | ₹749.9b | ₹132.5b | 32.1x | 64.5x | 11.4x |
| Wed, 31 Jan 2024 | ₹7.8t | ₹737.9b | ₹116.7b | 38.6x | 66.9x | 10.6x |
| Fri, 29 Dec 2023 | ₹7.2t | ₹733.1b | ₹116.5b | 29.9x | 61.6x | 9.8x |
| Sun, 26 Nov 2023 | ₹6.6t | ₹729.0b | ₹116.7b | 26.4x | 56.2x | 9x |
| Tue, 24 Oct 2023 | ₹5.5t | ₹671.4b | ₹89.5b | 32.3x | 61.5x | 8.2x |
| Thu, 21 Sep 2023 | ₹5.5t | ₹671.2b | ₹88.7b | 30.3x | 61.4x | 8.1x |
| Sat, 19 Aug 2023 | ₹5.1t | ₹674.1b | ₹65.8b | 28.9x | 77.4x | 7.6x |
| Mon, 17 Jul 2023 | ₹5.2t | ₹660.4b | ₹75.6b | 30.1x | 69.4x | 7.9x |
| Wed, 14 Jun 2023 | ₹5.1t | ₹660.9b | ₹85.0b | 30x | 60x | 7.7x |
| Fri, 12 May 2023 | ₹4.4t | ₹658.5b | ₹101.8b | 25.8x | 43.5x | 6.7x |
| Sun, 09 Apr 2023 | ₹4.0t | ₹652.0b | ₹103.1b | 22.9x | 39.2x | 6.2x |
| Tue, 07 Mar 2023 | ₹4.0t | ₹646.6b | ₹102.6b | 24x | 39.3x | 6.2x |
| Thu, 02 Feb 2023 | ₹4.1t | ₹611.8b | ₹116.0b | 24.1x | 35.2x | 6.7x |
| Sat, 31 Dec 2022 | ₹4.2t | ₹610.7b | ₹114.2b | 25.6x | 37.2x | 6.9x |
| Mon, 28 Nov 2022 | ₹4.3t | ₹614.5b | ₹103.2b | 26.8x | 42x | 7x |
| Wed, 26 Oct 2022 | ₹4.2t | ₹594.3b | ₹104.5b | 27.8x | 40.2x | 7.1x |
| Fri, 23 Sep 2022 | ₹4.4t | ₹589.3b | ₹101.9b | 28.5x | 43x | 7.4x |
| Sun, 21 Aug 2022 | ₹4.5t | ₹589.3b | ₹96.5b | 27.3x | 46.8x | 7.7x |
| Tue, 19 Jul 2022 | ₹4.3t | ₹552.3b | ₹80.8b | 28.2x | 53.2x | 7.8x |
| Thu, 16 Jun 2022 | ₹4.1t | ₹543.2b | ₹67.3b | 27.6x | 60.9x | 7.5x |
| Sat, 14 May 2022 | ₹4.0t | ₹508.7b | ₹80.6b | 29.5x | 49.5x | 7.8x |
| Mon, 11 Apr 2022 | ₹4.7t | ₹489.7b | ₹69.8b | 30x | 67.1x | 9.6x |
| Wed, 09 Mar 2022 | ₹4.1t | ₹489.9b | ₹69.8b | 29.3x | 58.2x | 8.3x |
| Fri, 04 Feb 2022 | ₹4.8t | ₹482.5b | ₹67.5b | 35.6x | 71.3x | 10x |
| Sun, 02 Jan 2022 | ₹4.6t | ₹473.9b | ₹67.5b | 34x | 68.9x | 9.8x |
| Tue, 30 Nov 2021 | ₹4.7t | ₹472.6b | ₹67.5b | 25.7x | 70x | 10x |
| Thu, 28 Oct 2021 | ₹4.7t | ₹455.6b | ₹62.0b | 35.5x | 75.6x | 10.3x |
| Sat, 25 Sep 2021 | ₹4.5t | ₹470.7b | ₹42.6b | 32x | 104.6x | 9.5x |
| Mon, 23 Aug 2021 | ₹3.5t | ₹482.8b | ₹43.1b | 25.7x | 82.2x | 7.3x |
| Sat, 10 Jul 2021 | ₹3.3t | ₹482.8b | ₹43.1b | 25.7x | 76.2x | 6.8x |
Price to Earnings Ratio
106.2x
Current Industry PE
- Investors are relatively neutral on the Indian Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 60.6x.
- The 3-year average PS ratio of 8.4x is lower than the industry's current PS ratio of 11.5x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 66% per year over the last three years.
- Revenues for these companies have grown 20% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Indian Real Estate sector?
| IN Market | -1.98% | |
| Real Estate | -2.55% | |
| REITS | 0% | |
| Specialized REITs | 0% | |
| Residential REITs | 0% | |
| Hotel and Resort REITs | 0% | |
| Health Care REITs | 0% | |
| Retail REITs | -0.67% | |
| Industrial REITs | -1.14% | |
| Office REITs | -2.16% | |
| Real Estate | -2.64% | |
Industry PE
- Investors are most optimistic about the Real Estate industry, which is trading close to its 3-year average PE ratio of 62.0x.
- Analysts are expecting annual earnings growth of 31.1%, which is higher than its past year's earnings growth of 27.0% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 31% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Office REITs industry is expected to see its earnings grow by 16% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| PRESTIGE Prestige Estates Projects | ₹1.55k | 12.1% +₹66.8b | 217.4% | PE36.4x | |
| GODREJPROP Godrej Properties | ₹2.81k | 6.3% +₹46.1b | 110.4% | PE107.9x | |
| 532929 Brigade Enterprises | ₹1.11k | 7.7% +₹18.4b | 104.0% | PE81.5x | |
| 544008 Max Estates | ₹348.70 | 18.7% +₹8.1b | n/a | PS47x | |
| OBEROIRLTY Oberoi Realty | ₹1.50k | 1.1% +₹5.8b | 59.6% | PE33.7x |