Real Estate Blues: Why 11 Key Indian Developers Are Down 5-38% YTD in 2025 Amid Market Headwinds

  The Indian real estate sector, often hailed as a cornerstone of economic growth, is facing a turbulent 2025. Contributing around 7% to the nation's GDP, the industry was projected to expand to $1 trillion by 2030, fueled by urbanization and infrastructure booms. Yet, halfway through the year, all 21 tracked stocks in the real estate and construction space are in the red, with year-to-date (YTD) declines ranging from a modest 5% to a staggering 38%. This sector-wide slump isn't just bad luck—it's a cocktail of escalating construction costs, a 13% drop in residential sales volumes in H1 2025 due to shifting buyer preferences and macroeconomic pressures, and affordability crunches in metros where prices have surged 21% annually. High interest rates and reduced launches have compounded the pain, leading to a 27% YoY dip in institutional investments to $1.2 billion in the first half. In this two-part deep dive, we'll unpack the first half of these laggards—11 stocks that...
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Waaree Energies Q4 Results: Net Profit Soars 29% to ₹619 Crore, Revenue Climbs 31%

 

Waaree Energies Ltd, a leading solar panel manufacturer, has reported stellar financial performance for the fourth quarter of FY25, showcasing robust growth and strategic expansion. The company’s consolidated net profit surged by 29.13% to ₹618.91 crore, compared to ₹461.52 crore in the same quarter last year. Additionally, revenue from operations grew by an impressive 30.78% to ₹4,003.93 crore, up from ₹2,935.84 crore in the prior year. These results, announced on April 22, 2025, have fueled a 7% surge in the company’s stock price, reflecting strong investor confidence.

Key Financial Highlights

  • Net Profit: Increased by 29.13% to ₹618.91 crore from ₹461.52 crore.

  • Revenue Growth: Rose 30.78% to ₹4,003.93 crore from ₹2,935.84 crore.

  • EBITDA Performance: Achieved ₹3,123.20 crore for FY25, highlighting operational excellence.

  • Stock Performance: Shares closed 8.2% higher at ₹2,645 per unit on the NSE, with a market capitalization of ₹75,986.41 crore.

The company’s strong order book and focus on high-margin projects have been pivotal in driving this performance. Waaree Energies’ stock has also outperformed its issue price of ₹1,503, trading 53.54% higher at ₹2,602, with a 52-week high of ₹3,743 and a low of ₹1,863.

Strategic Expansion and Future Outlook

Amit Paithankar, Whole Time Director and CEO of Waaree Energies, emphasized the company’s transformative journey in FY25. “This year marks a pivotal inflection point in Waaree’s journey—a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance,” Paithankar stated. He highlighted the company’s focus on both backward and forward integration, with investments in cell, ingot, and wafer manufacturing, battery energy storage systems, power infrastructure, and inverters.

Waaree Energies has also strengthened its global presence with a 1.6 GW module manufacturing facility in Brookshire, Texas, USA, reinforcing its “local-for-local” manufacturing philosophy. This strategic move enhances the company’s ability to navigate evolving policy environments and meet growing demand in the American market.

Looking ahead, Paithankar projected an optimistic EBITDA outlook for FY26, targeting ₹5,500 crore to ₹6,000 crore. “Encouraging demand trends and the quality of our order book position us well for sustained growth,” he added.

Diverse Client Portfolio

Waaree Energies serves a wide range of domestic and international clients, further solidifying its market position. Domestic customers include prominent names like Aditya Birla Group, AMP Solar Group, Amara Raja, Susten, Suzlon, and Ujaas. Internationally, the company caters to clients such as Aldo Energy, Cengiz Holding, Else Enerji, and Tuncmatik.

Investor Insights: Why Waaree Energies is a Stock to Watch

The company’s robust financials, strategic expansions, and strong market performance make it an attractive prospect for investors. With a stock P/E ratio of 40.2, a return on capital employed (ROCE) of 35.1%, and a return on equity (ROE) of 27.6%, Waaree Energies demonstrates strong fundamentals. Its focus on renewable energy aligns with global sustainability trends, while its diversified manufacturing capabilities and global outreach enhance its growth potential.

The company’s market capitalization of ₹75,150 crore and a book value of ₹330 per share further underscore its financial stability. Investors may find Waaree Energies’ stock, currently trading at ₹2,616, an appealing opportunity given its upside potential and the renewable energy sector’s long-term growth prospects.

Upcoming Conference Call

Waaree Energies has scheduled a conference call for analysts and institutional investors on April 23, 2025, at 11:00 a.m. IST to discuss the audited financial results for the quarter and year ended March 31, 2025. This call will provide further insights into the company’s performance and strategic plans.

Conclusion

Waaree Energies’ Q4 FY25 results highlight its leadership in the renewable energy sector, driven by strong financial performance, strategic investments, and a focus on sustainable growth. With a promising outlook for FY26 and a solid foothold in both domestic and international markets, the company is well-positioned to capitalize on the growing demand for solar energy solutions. Investors looking for exposure to the renewable energy space may find Waaree Energies a compelling addition to their portfolios.

Location:Nainital Uttarakhand ,India India

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