Street View: India's Godrej Properties unruffled by profit drop as sales hold up
BUZZ-Street View: India's Godrej Properties unruffled by profit drop as sales hold up ** Shares of India's Godrej Properties GODR.NS rise 4% to 2,115.1 rupees, on track to snap four sessions of losses
** Co posted Q1 net profit drop of 42% y/y while revenue rose 16.5% y/y
SALES MOMENTUM OVERSHADOWS NEAR-TERM WEAKNESS
** Nomura ("Neutral", PT: 2,100 rupees) says operations remain strong and FY27 guidance appears achievable, but investors should wait for operating cash flow to improve
** HSBC ("Buy", PT: 3,000 rupees) says broad-based bookings and management's clear guidance on operating and free cash flow strengthen long-term growth outlook
** Jefferies ("Buy", PT: 2,550 rupees) says the strong start to FY27 supports a potential re-rating and remains confident about positive free cash flow by FY28
** Morgan Stanley ("Overweight", PT: 2,500 rupees) says revenue and cash flow visibility for FY27-FY28 has improved, supported by strong bookings and collections
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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