Godrej Properties Ltd (GODREJPROP)

Godrej Properties Reduces Net Debt and Increases Stake in Subsidiary - 09 May, 2024

Godrej Properties reduces net debt by 10% in Q4 due to strong sales and customer collections. The company also increases its stake in subsidiary, Godrej One Premises Management, by acquiring an additional 14% stake from its promoter.

Godrej Properties Reduces Net Debt by 10% in March Quarter - 08 May, 2024

Godrej Properties reduced its net debt to nearly Rs 6,200 crore on strong sales and collections of funds from customers. The company achieved the highest-ever annual collection of Rs 11,436 crore in FY24 with YoY growth of 27%. Sales bookings jumped 84% to record Rs 22,527 crore in the last fiscal year. It has given a sales bookings guidance of Rs 27,000 crore for the current fiscal, a 20% growth from a high base in 2023-24.

Godrej Properties Beats Revenue Forecasts and Surpasses Pre-Sales Guidance - 07 May, 2024

Godrej Properties exceeded revenue forecasts by 15%, reporting revenues of ₹30b. The company's Q4FY24 pre-sales reached ₹9,500 crore, surpassing guidance and translating into the highest-ever quarterly collections at ₹4,690 crore. Analysts predict a 39% jump in EPS and a consensus price target of ₹2,469.

Godrej Properties Plans Major Expansion After Strong Performance - 06 May, 2024

Godrej Properties reports its highest-ever quarterly and annual sales, exceeding booking guidance by 61%. The company plans to launch residential projects worth Rs 30,000 crores this fiscal year in major cities. JPMorgan upgrades the stock to overweight with a target of ₹3,100 per share.

Mixed Results for Godrej Properties in Q4 and FY2024 - 05 May, 2024

Godrej Properties' Q4 results showed a decrease in topline but an increase in profit YoY, while their FY2024 earnings exceeded analyst estimates for revenue but missed for EPS. The company's shares are down 2.5% from a week ago.

Godrej Properties Reports Strong Q4 Results - 03 May, 2024

Godrej Properties reported a 14% increase in consolidated net profit to Rs 471.26 crore for Q4 FY24, with total income rising to Rs 1,914.82 crore. The company expects residential bookings to grow to more than Rs 27,000 crore in fiscal year 2025.

Godrej Family Restructures Conglomerate; Shares Surge - 02 May, 2024

The Godrej family has agreed to restructure their 127-year-old conglomerate, splitting it into two branches. Rishad Naoroji is gifting his shares worth Rs 7,050 crore in Godrej companies to nephews and nieces. Most Godrej group company shares surged 2-8%. Godrej & Boyce Manufacturing Co. will own Vikhroli land while Godrej Properties Ltd. manages its development. Adi Godrej's family will increase their stake to control 50.35% of Godrej Properties.

Godrej Group Splits Into Two Entities; Godrej Properties Bookings Surge - 01 May, 2024

The founding family of the Godrej Group has amicably split the conglomerate. Godrej Industries Group will be led by Nadir Godrej as chairperson, while Pirojsha Godrej is set to take charge as GIG's Executive Vice Chairperson. Additionally, Godrej Properties' bookings surged 135% YoY in Q4 FY24.

Long Position Build-Up for Godrej Properties Stock - 30 Apr, 2024

Derivatives data suggests a bullish set up for Godrej Properties stock, with a recommendation to take a long position by buying call option.

Godrej Properties' High P/S Ratio Raises Concerns - 27 Apr, 2024

Godrej Properties Limited's high price-to-sales ratio of 22.5x is sending bearish signals, as it is much higher than the industry average and its forecasted revenue growth is lower than the broader industry. Shareholders' investments are at significant risk, and potential investors may pay an excessive premium.

Godrej Properties Loses Refund Case Against Homebuyer - 23 Apr, 2024

Godrej Properties lost a refund case against a homebuyer who claimed the company broke RERA rules in Maharashtra. The court ordered Godrej to return deposit money, minus 2% of the home's cost based on a rule from MahaRERA. This highlights the importance of RERA laws in protecting buyers.

Godrej Properties Ordered to Refund Homebuyer's Booking Amount - 22 Apr, 2024

Maharashtra RERA tribunal has ordered Godrej Properties to refund a homebuyer's booking amount of Rs 5 lakh for violating RERA laws by forfeiting the amount. The forfeiture was deemed illegal as it exceeded 5% of the total consideration of the flat. The respondent is directed to refund the money paid without interest, after deducting 2% of the total consideration of the said flat.

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.