CLSA has maintained its outperform call on Godrej Properties with a target price of ₹2,850 per share, implying a potential upside of about 30% from the current market price of ₹2,193.50. The brokerage noted that the company reported pre-sales of ₹8,500 crore during the quarter, in line with estimates, reflecting steady demand momentum in its core markets.
However, operating cash flow lagged due to lower collections and higher construction spend. CLSA said it remains watchful of cash flows, which act as a lead indicator of embedded margins. The brokerage also observed that the stock continues to trade at a discount to peers, suggesting that improving cash flow trends could drive a re-rating in the coming quarters.
At the time of the report, Godrej Properties shares were trading at ₹2,193.50 on the exchange.
Disclaimer: The views and target price mentioned are those of the brokerage firm (CLSA). This article is based solely on the provided inputs and is intended for informational purposes only. No investment advice.
