Godrej Properties - Targeting Sustainable Growth On Back Of Strong Project Pipeline: Motilal Oswal

Motilal Oswal Report

The management has laid out a clear growth strategy as it looks to capture a higher share in its focused markets. Godrej Properties Ltd. has developed a strong project pipeline over the last 18 months and intends to launch these projects on priority, which would accelerate the bookings growth and enable higher cash flow, given favorable ownership of new projects.

The sustained traction in business development continues to offer a clear outlook for pre-sales growth.

Additionally, the increased completion of projects with favorable ownership structures augurs well for the stock.

We reiterate our 'Buy' rating with an increased target price of Rs 2,300, implying a 22% upside.

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