Godrej Properties Ltd. share price target

Godrej Properties Limited is a real estate company with its head office in Mumbai, India. A subsidiary of Godrej Industries Ltd, the company was established in 1990 under the leadership of Adi Godrej. The company is...

Godrej Properties Limited, established in 1990, is a pan-India real estate developer.

Stable Operations; capital raise to improve growth profile GPL reported robust 4Q operational performance with pre-sales at INR10bn which was driven by Sohna Road project and sustenance sales. However reported margin was impacted by INR 1.5bn write-off taken in legacy commercial assets (Kolkata /Chandigarh). With improvement in 4QFY18 operations, GPL has achieved a pre-sales of 6.3msf/INR 50.8bn for FY18. Net debt declined by INR2bn during the quarter as company collections improved to INR 12.8bn (from INR 9bn in 3QFY18). Company is planning to raise INR 10bn through preferential issue resulting in 5.5% dilution. We believe the raised capital will enable company to increase...

Q3 pre-sales were strong at Rs 12.2 bn (GPL's share at ~Rs 5 bn) on launches in NCR, Mumbai and Bangalore. Pre-sales/ collections of Rs 40 bn/28 bn in 9MFY18 already make it a record year for GPL's residential business. Pre-sales in Q3 were driven by its BKC project (Rs 4.25 bn @ Rs 34,421 psf)

After record pre-sales in Q1, Godrej Properties (GPL) continued to post strong pre-sales in Q2 at Rs 13.4 bn (GPL's share at Rs ~6 bn) on new launches in Bangalore and strong performance in Pune, Mumbai and NCR projects. Collections remained strong at Rs 7.4 bn.

Despite weak sentiments on account of GST and RERA, Godrej Properties (GPL) reported highest-ever sales in its residential projects, leading to strong pre-sales of Rs 14.7 bn (GPLs share at Rs 9.6 bn) in Q1.

Godrej Properties Ltd (GPL) has booked pre-sales of Rs 9-10 bn in April 2017 driven by launch of 3 projects The Trees Origins (Vikhroli), Godrej Golf Links (Greater Noida) and Godrej 24 (Pune).

Operationally weak quarter, led by lower realizations Motilal Oswal values your support in the Asiamoney Brokers Poll 2016 for Margins improve sequentially: Revenue grew 53% YoY to INR3b. Margins India Research, Sales and Trading team....

Godrej Properties Limited - GODREJPROP is an India-based real estate company (headquartered in Mumbai) and is a subsidiary of Godrej Group. The company has projects in approximately 12 cities and it is involved in the development of residential and commercial real estate. Its residential portfolio consists of accommodations of varying sizes. The commercial portfolio includes building office space catering to blue-chip Indian and international companies, IT parks catering to the requirements of IT/ITES companies and retail space. Godrej Properties has been expanding its footprints at a fast pace and has sold real estate worth US $ 2.1 bn over the last four years.Ashika Stock Broking advise their investors to BUY the stock with target price of Rs. 415, valuing at P/E multiple of 25x FY18E EPS. Historically, GPL’s 5 year average P/E is 32x. So, if even we take a conservative multiple of 25x times for FY18, it is implying a target price of Rs 415.

Trendlyne has 1 report on GODREJPROP updated in the last year from 1 broker with an average target of Rs 415.