Multibagger Godrej Properties- 4 key reasons why Jefferies sees more than 18% upside for the stock
Godrej Properties share price has more than doubled in last one year giving multi bagger returns to the investors. The stock remains in news on strong sales numbers seen in FY24. As per release by Godrej Properties in Q4 of FY24, Godrej Properties' bookings increased 135% YoY to exceed ₹9,500 crore.
This is the greatest quarterly sales figure that an Indian real estate developer with a public listing, that has ever disclosed. Godrej Properties said that this was accomplished by selling 5,331 residences totaling more than 8 million square feet. Early land purchases and Hyderabad's admission suggest FY25 for Godrej Properties may witness growth over a strong base, said analysts at Jefferies India Pvt Ltd.
The average selling price increased by 55% compared to FY22–24, while Godrej Properties rate increased by 30% to ~83%. As a result, Jefferies anticipates significantly greater margins. Strong Sales Performance- Post strong sales growth, momentum should continue in FY25.
Analysts at Jefferies said that strong new launches in its important markets of NCR (Rs3000 Crore Zenith Gurgaon) and MMR (Reserve, Kandivli, MMR, Rs. 2800 Crore). Good pre-sales for FY24 in MMR (Rs6500 Crore), Pune (more than Rs2500 Crore), and NCR (Rs10,000 Crore) should place Godrej Properties among the top developers in these significant markets.
Also Read- Penny stock below ₹5: Circuit-to-circuit stock touches upper circuit after Q4 results 2024 Land Banking has remained timely- Godrej Properties has added 36 projects as a result of accelerated business development over the past three years. Godrej Properties added projects mostly through the buy-out strategy. Twenty of these projects have now been launched, and many have seen their final pricing rise
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