India's Godrej Properties gains; ICICI Securities raises to 'buy'

Godrej Properties

11/04/2025 08:59

** Godrej Properties GODR.NS rises 1.3% to 1,999.30 rupees; last up 0.3%

** ICICI Securities upgrades to "buy" from "hold"; raises PT to 2,515 rupees from 2,482 rupees

** Co posts FY25 gross sales bookings of 294 bln rupees ($3.42 bln), above its annual expectation of 270 bln rupees

** Brokerage expects FY26 sales bookings to touch 305 bln rupees and 312 bln rupees in FY27 on strong launch pipeline

** Says residential demand slowdown, muted price growth will be key risks for co

** Stock rated "buy" on avg; mean PT of 3,040 rupees, per data compiled by LSEG

** GODR down ~28% YTD

($1 = 86.0370 Indian rupees)

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))