Fundamental Analysis

GODREJ PROPERTIES LTD. 

{Ticker : 533150 { BUY: Rs.1,020 {Target: Rs.1,130



Godrej Properties is a real estate company engaged in the construction and real estate development. On a consolidated quarterly front, the net sales reported for Q2FY20 was Rs 259.67 crore, down by 33.97 per cent from Rs 393.25 crore in Q2FY19. The company reported an operating profit of Rs 72.88 crore in Q2FY20, a significant improvement over an operating profit of Rs 3.56 crore in Q2FY19. The company gained a net profit of Rs 34.19 crore in Q2FY20, up by 66.21 per cent from Rs 20.57 crore in Q2FY19. The company's continued sales track record, business development pipeline and equity raise have positioned it well to accelerate its own growth plans. Owing to this and the expected government support to the real estate industry, we recommend a BUY.