Jefferies has maintained a “Buy” rating on Godrej Properties with a target price of ₹3,750, highlighting its robust growth prospects driven by strategic pivots and equity raises. The company is expected to achieve 35% pre-sales growth in FY25, exceeding ₹30,000 crore, driven by an aggressive launch pipeline in H2FY25, which is set to outpace H1.
Jefferies noted that Godrej Properties’ shift to owned land projects has significantly improved its cash flow dynamics, reducing dependency on joint ventures. The brokerage emphasized that the company is trading at a compelling valuation of 17x its FY25 pre-sales, offering potential upside as market conditions improve.
The report also pointed out that Godrej Properties is well-placed to capitalize on the ongoing real estate upcycle, particularly in luxury and premium housing segments. Jefferies sees this stock as its top pick in the property sector, with further growth expected as the company scales its operations in key metro cities.
