India's Godrej Properties slips; Nomura starts with near Street-low PT

Godrej Properties

09/07/2025 06:22

** Godrej Properties GODR.NS down ~2% to 2,273 rupees

** Nomura starts with "reduce"; stock rated "buy" on avg, per data compiled by LSEG

** PT of 1,900 rupees second-to-lowest, just 100 rupees above Street-low target; median PT is 2,713.50 rupees

** Brokerage expects FY26 pre-sales to miss co's forecast by 5% on weaker new launches "amid fading exuberance among buyers in India's real estate market"

** Says medium-term pre-sales growth could be slower as new trends "do not inspire confidence" in co's ability to sharply scale new launches

** Believes challenges to execution visible, given deliveries not ramping up as fast as sales volumes

** YTD, GODR falls ~19%

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))