3 Mid-Income and Senior Living Developer, Premium Mumbai Developer and Largest Listed Developer Stocks With a Strong Future Roadmap: Ashiana Housing, Oberoi Realty and DLF

Ashiana Housing, Oberoi Realty and DLF: ROE of 10.0% to 13.8% and FY22 to FY26 revenue CAGR of 12.5% to 50.2%. Prices as of 23 Oct 2026.

Updated: 26 Oct 2026 • 11:55 am

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3 Mid-Income and Senior Living Developer, Premium Mumbai Developer and Largest Listed Developer Stocks With a Strong Future Roadmap: Ashiana Housing, Oberoi Realty and DLF

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The three housing and commercial real estate stocks to watch are Ashiana Housing, Oberoi Realty and DLF. Their return on equity ranges from 10.0% to 13.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.5% to 50.2%. Oberoi Realty has the highest return on equity at 13.8%, while Ashiana Housing has the fastest revenue growth at 50.2% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.

Housing and commercial real estate stocks bring together companies with a visible plan for the years ahead. Ashiana Housing, Oberoi Realty and DLF cover a mid-income and senior living developer, a premium Mumbai developer and the largest listed developer.

This list covers three housing and commercial real estate stocks with complete current figures: Ashiana Housing, Oberoi Realty and DLF. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.

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Table of Contents

What Are Housing and Commercial Real Estate Stocks?

Housing and commercial real estate stocks are listed companies that plan, launch and sell homes, and many also build offices and retail assets. Their earnings depend on sales bookings, project launches and collections.

Housing and Commercial Real Estate Stocks at a Glance

Company	CMP (Rs)	Market Cap (Rs Cr)	P/E	Industry P/E	ROE (%)	D/E
Ashiana Housing	345.4	3,586	30.3	30.7	13.6	0.35
Oberoi Realty	1,612.7	58,911	22.4	30.7	13.8	0.14
DLF	657	164,509	36.0	30.7	10.0	0.01

On valuation, Ashiana Housing and Oberoi Realty trade at a P/E below the industry P/E, while DLF trades above it, which reflects the growth the market already expects.

Return on equity shows how much profit a company earns on shareholders' funds, while the debt to equity ratio shows how much borrowing supports the business. Reading the two together gives a fuller picture than either number alone.

Why Do Housing and Commercial Real Estate Stocks Have a Strong Roadmap in India?

Housing and commercial real estate stocks have a strong roadmap in India because urbanisation, rising incomes and a preference for branded developers keep driving demand for quality homes and offices.

Branded developers. Buyers prefer trusted names for timely delivery.
Launch pipeline. New projects in key cities support sales.
Rental assets. Offices and malls add steady income.

Why Ashiana Housing Features Among These Housing and Commercial Real Estate Stocks

Among the housing and commercial real estate stocks on this list, Ashiana Housing develops mid-income residential projects and senior living communities in cities such as the Delhi region, Jaipur and Chennai. It is known for its focus on construction quality and timely delivery.

Revenue rose from Rs 234 crore in FY22 to Rs 1,187 crore in FY26, a compound annual growth rate of 50.2%. Net profit grew from Rs 27.9 crore in FY23 to Rs 118 crore in FY26, which works out to a compound annual growth rate of 61.7%.

The company has a return on equity of 13.6%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 3,586 crore. The stock trades at a P/E of 30.3, below the industry P/E of 30.7.

Roadmap: The company is launching new phases in established markets and growing its senior living portfolio. A reputation for delivery supports sales in its projects.

What to watch: Track sales bookings, project launches and deliveries.

Why Oberoi Realty Features Among These Housing and Commercial Real Estate Stocks

Among the mid-income housing developer shares on this list, Oberoi Realty is a Mumbai-based real estate developer known for premium residential projects and commercial and retail assets, including malls and hospitality properties.

Revenue rose from Rs 2,752 crore in FY22 to Rs 6,304 crore in FY26, a compound annual growth rate of 23.0%. Net profit grew from Rs 1,047 crore in FY22 to Rs 2,507 crore in FY26, which works out to a compound annual growth rate of 24.4%.

The company has a return on equity of 13.8%, a debt to equity ratio of 0.14 and a market capitalisation of Rs 58,911 crore. The stock trades at a P/E of 22.4, below the industry P/E of 30.7.

Roadmap: The company has a pipeline of premium projects in the Mumbai region and builds recurring rental income from its commercial and retail assets. A strong brand supports pricing and sales.

What to watch: Track new project launches, sales bookings and rental income growth.

Why DLF Features Among These Housing and Commercial Real Estate Stocks

Among the three companies on this list, DLF is among India's largest real estate companies, with residential development, a large commercial and retail rental portfolio and land holdings concentrated around Delhi NCR.

The company has a return on equity of 10.0%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 164,509 crore. The stock trades at a P/E of 36.0, above the industry P/E of 30.7.

Revenue rose from Rs 6,138 crore in FY22 to Rs 9,816 crore in FY26, a compound annual growth rate of 12.5%. Net profit grew from Rs 844 crore in FY22 to Rs 2,622 crore in FY26, which works out to a compound annual growth rate of 32.8%.

Roadmap: The company is launching premium residential projects and growing rental income from offices and malls. A large land bank gives it room to expand over many years.

What to watch: Follow residential launches, sales bookings and rental income growth.

Ashiana Housing vs Oberoi Realty vs DLF on Key Financials

The table below sets the three housing and commercial real estate stocks side by side on revenue, profit and margin, using reported figures.

Company	FY22 Revenue (Rs Cr)	FY26 Revenue (Rs Cr)	Revenue CAGR (FY22-FY26)	FY26 Net Profit (Rs Cr)	FY26 Net Margin
Ashiana Housing	234	1,187	50.2%	118	9.9%
Oberoi Realty	2,752	6,304	23.0%	2,507	39.8%
DLF	6,138	9,816	12.5%	2,622	26.7%

Oberoi Realty posts the highest return on equity in this group at 13.8%. DLF has the largest FY26 revenue at Rs 9,816 crore, and Ashiana Housing shows the fastest revenue growth with a 50.2% compound annual rate.

Key Risks to Check Before Investing in Housing and Commercial Real Estate Stocks

Every theme carries risks that deserve a check before any decision. For these housing and commercial real estate stocks, the main points are:

Interest rates. Home buying depends on borrowing costs.
Launch timing. Project approvals can shift timelines.
Cash collections. Sales depend on steady buyer payments.

Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.

Use the Univest Stock Screener to filter housing and commercial real estate stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.

Final Thoughts on Housing and Commercial Real Estate Stocks

Housing and commercial real estate stocks suit investors who prefer to study business strength before price moves. Ashiana Housing, Oberoi Realty and DLF each have a clear project pipeline. Based on the 23 October 2026 close, Ashiana Housing trades at Rs 345.4, Oberoi Realty at Rs 1,612.7 and DLF at Rs 657.

Download the Univest iOS App or Univest Android App to track housing and commercial real estate stocks, set price alerts and get research-backed stock ideas.

Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

What are housing and commercial real estate stocks?

Ans. Housing and commercial real estate stocks are listed companies that plan, launch and sell homes, and many also build offices and retail assets. Their earnings depend on sales bookings, project launches and collections. This list looks at three of them, Ashiana Housing, Oberoi Realty and DLF, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.

Which housing and commercial real estate stocks are covered in this list?

Ans. This list covers Ashiana Housing, Oberoi Realty and DLF. Based on the 23 October 2026 close, Ashiana Housing traded at Rs 345.4, Oberoi Realty at Rs 1,612.7 and DLF at Rs 657. Their return on equity ranges from 10.0% to 13.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.5% to 50.2%.

Why do housing and commercial real estate stocks have a strong future roadmap in India?

Ans. Housing and commercial real estate stocks have a strong roadmap in India because urbanisation, rising incomes and a preference for branded developers keep driving demand for quality homes and offices. The main drivers are as follows. Branded developers. Buyers prefer trusted names for timely delivery. Launch pipeline. New projects in key cities support sales. Rental assets. Offices and malls add steady income. Together these factors give the companies on this list a visible path for growth over the coming years.

How has Ashiana Housing performed financially?

Ans. Revenue rose from Rs 234 crore in FY22 to Rs 1,187 crore in FY26, a compound annual growth rate of 50.2%. Net profit grew from Rs 27.9 crore in FY23 to Rs 118 crore in FY26, which works out to a compound annual growth rate of 61.7%. The company has a return on equity of 13.6%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 3,586 crore. The stock trades at a P/E of 30.3, below the industry P/E of 30.7. Looking ahead, the company is launching new phases in established markets and growing its senior living portfolio. A reputation for delivery supports sales in its projects.

How has Oberoi Realty performed financially?

Ans. Revenue rose from Rs 2,752 crore in FY22 to Rs 6,304 crore in FY26, a compound annual growth rate of 23.0%. Net profit grew from Rs 1,047 crore in FY22 to Rs 2,507 crore in FY26, which works out to a compound annual growth rate of 24.4%. The company has a return on equity of 13.8%, a debt to equity ratio of 0.14 and a market capitalisation of Rs 58,911 crore. The stock trades at a P/E of 22.4, below the industry P/E of 30.7. Looking ahead, the company has a pipeline of premium projects in the Mumbai region and builds recurring rental income from its commercial and retail assets. A strong brand supports pricing and sales.

How has DLF performed financially?

Ans. Revenue rose from Rs 6,138 crore in FY22 to Rs 9,816 crore in FY26, a compound annual growth rate of 12.5%. Net profit grew from Rs 844 crore in FY22 to Rs 2,622 crore in FY26, which works out to a compound annual growth rate of 32.8%. The company has a return on equity of 10.0%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 164,509 crore. The stock trades at a P/E of 36.0, above the industry P/E of 30.7. Looking ahead, the company is launching premium residential projects and growing rental income from offices and malls. A large land bank gives it room to expand over many years.

What risks should investors check before buying housing and commercial real estate stocks?

Ans. Investors should check a few risks before buying housing and commercial real estate stocks. Interest rates. Home buying depends on borrowing costs. Launch timing. Project approvals can shift timelines. Cash collections. Sales depend on steady buyer payments. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.

Is this list of housing and commercial real estate stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.