Buy Godrej Properties, target price Rs 1425: Kotak Securities

Kotak Securities has buy call on Godrej Properties with a target price of Rs 1425. The current market price of Godrej Properties is Rs 1382.45.

Godrej Properties Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 38437.72 Crore) operating in Real Estate sector.

Godrej Properties Ltd. key Products/Revenue Segments include Income From Real Estate Development, Sale of services, Other Operating Revenue and Lease Rentals for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 426.40 Crore, down -71.99 % from last quarter Total Income of Rs 1522.57 Crore and up 62.75 % from last year same quarter Total Income of Rs 261.99 Crore. Company reported net profit after tax of Rs 94.94 Crore in latest quarter.

Investment Rationale
Has reversed from retracement zone; incremental volume hints at breakout from sloping trend line

Promoter/FII Holdings
Promoters held 58.43 per cent stake in the company as of 30-Jun-2022, while FIIs owned 29.94 per cent, DIIs 2.71 per cent.