Godrej Properties Ltd Share Price (GODREJPROP)

Godrej Family Begins Formal Division of Conglomerate, Divests Stakes - 19 Apr, 2024

The Godrej family has begun the formal division of their century-old conglomerate by exiting each other's company boards and divesting stakes. Jamshyd Godrej also relinquished his seat on the board of GCPL and Godrej Properties as part of a family arrangement to transfer interests to cousins.

Godrej Properties Benefits from Booming Realty Sector - 18 Apr, 2024

The Nifty Realty Index, which includes Godrej Properties, has seen over 100% returns in the past year due to factors such as increased demand for housing, reopening offices, affordable interest rates on loans, and rapid urbanization.

Godrej Properties Q4 Bookings Exceed ₹9,500 Crore - 12 Apr, 2024

Godrej Properties reported a 135% YoY increase in bookings to exceed ₹9,500 crore in Q4 of FY24. Jefferies India Pvt Ltd expects significant margin improvement for the company due to early land purchases and Hyderabad's admission, with raised pre-sales estimates by 25% and 19% respectively. The target price has been increased to RS 3175, indicating an 18-19% upside for the stock trading at around ₹2675 levels.

Godrej Properties Reports Record Sales Booking in FY24 - 11 Apr, 2024

Godrej Properties reported an 84% increase in sales booking to a record Rs 22,500 crore in FY24, beating estimates. The company aims to achieve Rs 25,000 crore pre-sales numbers in FY25 and plans to launch multiple housing projects in Delhi, Noida, and Gurugram this year. Jefferies maintains a buy rating on the stock.

Godrej Properties Reports Record Sales Bookings - 10 Apr, 2024

Godrej Properties records an 84% increase in sales bookings to a record Rs22,500 crore in the last financial year. Jefferies maintains Buy rating and raises target price to Rs3,175. Morgan Stanley is bullish on the company. Motilal Oswal predicts strong pre-sales growth.

Godrej Properties Reports Record Sales Bookings - 09 Apr, 2024

Godrej Properties records its highest-ever annual sales with homes worth Rs 22,500 crore sold in FY24. The company achieved a booking value of over Rs 9,500 crore in Q4FY24 alone, driven by superlative consumer demand in key new project launches. Shares surge 8% to hit a new high. However, RERA Gurugram rejects Godrej Developers' project extension application due to non-compliances of the Real Estate Act.

Godrej Properties Sells Homes Worth Over ₹3,000 Crore in Three Days - 08 Apr, 2024

Godrej Properties' successful launch of its Godrej Zenith project in Gurugram resulted in selling over 1,050 homes worth over Rs 3,000 crore within three days. The company also reported a 473% YoY rise in sales for the Gurugram market in FY24 and has a strong launch pipeline for FY25. Shares have doubled over the last 12 months.

Godrej Properties Sells Over 800 Apartments in Mumbai Project - 06 Apr, 2024

Godrej Properties has sold over 800 apartments worth Rs 2,690 crore in its Godrej Reserve project located in Mumbai's Kandivali suburb. The company's shareholder registry shows that public companies own 47% of the company, while two top shareholders hold a considerable amount of ownership through their 55% stake.

Godrej Properties Sells Inventory Worth Rs 2,690 Crore in Mumbai Project Launch - 05 Apr, 2024

Godrej Properties has sold inventory worth Rs 2,690 crore in its newly launched Godrej Reserve project in Kandivali, Mumbai. The project has a developable potential of 3.72 million square feet with an estimated revenue potential of approximately Rs 7,000 crore. This is GPL's most successful launch ever in Mumbai in terms of the value and volume of sales achieved. The stock rose over 3% on the day.

Morgan Stanley Upgrades Godrej Properties Stock - 03 Apr, 2024

Morgan Stanley has upgraded Godrej Properties stock to overweight and hiked the target price based on pre-sales momentum. The company reported its highest ever figure of Rs 5,700 crore in Q3 pre-sales, with faster growth than peers on a YoY basis.

Morgan Stanley Upgrades Godrej Properties Rating to Overweight - 02 Apr, 2024

Morgan Stanley has upgraded its rating for Godrej Properties Ltd. to overweight from equal-weight with a target price of Rs 2,500 per share, implying a 4.8% upside. The company expects conservative guidance (+10-20% YoY in FY25e) and slower growth in 4QF24.