BSE Code: | NSE Code: | ISIN: | Sector:

NSE
661.50
Change Change %
18.60 2.89%

Updated:23 Oct, 2017, 15:53 PM IST

BSE
665.00
Change Change %
21.20 3.29%

Updated:23 Oct, 2017, 15:41 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Edelweiss
N/A
04-08-2017 Buy 499.50 612.00
N/A
Target Hit Long (1Y)
04-08-2018

Edelweiss maintains hold on Godrej Properties

Godrej Properties (GPL) reported strong Q1FY18 new sales driven by good response to new launches during the quarter. Strong operating cash flows led to INR4bn QoQ fall in net debt. Going ahead, we expect robust operations given GPL's new project pipeline, ability to leverage brand name to augment project portfolio and a diversified land bank. Balance sheet is expected to improve as sales progresses in legacy commercial assets. Tax incentives under affordable housing should provide tailwinds. However, at current valuations, we see most positives priced in. Hence, maintain 'HOLD'.   

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