India's Godrej Properties gains after CLSA hikes price target on earnings momentum

Godrej Properties

01/10/2025 08:17

** Shares of Godrej Properties GODR.NS rise 2.85% to 2,025 rupees apiece

** CLSA reiterates "outperform", hikes PT to 2,850 rupees from 2,770 rupees

** Brokerage expects Q2 pre-sales of 80-85 bln rupees ($902.32-$958.72 million), up 55% YoY and 15% sequentially

** Pre-sales driven by eight new launches with estimated gross development value (GDV) of 115 bln rupees

** CLSA sees H2 FY25 earnings outpacing H1 on strong pipeline of 350 bln rupees GDV

** Avg rating of 19 analysts is "buy"; median PT of 2,697.50 rupees - data compiled by LSEG

** YTD, GODR down 29% vs realty index's .NIFTYREAL 17% drop

($1 = 88.6600 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))