Buy Godrej Properties, target price Rs 1460: Sharekhan

Sharekhan by BNP Paribas has buy call on Godrej Properties with a target price of Rs 1460. The current market price of Godrej Properties is Rs 1373.7. Time period given by analyst is Intra Day when Godrej Properties Ltd. price can reach defined target.

Godrej Properties Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 38128.84 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-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 1522.57 Crore, up 226.09 % from last quarter Total Income of Rs 466.91 Crore and up 164.30 % from last year same quarter Total Income of Rs 576.08 Crore. Company reported net profit after tax of Rs 305.50 Crore in latest quarter.

Investment Rationale
In process of forming an Inverted H&S pattern. Daily momentum indicator in sync with bullish structure.

Promoter/FII Holdings
Promoters held 58.43 per cent stake in the company as of 31-Mar-2022, while FIIs owned 30.17 per cent, DIIs 2.77 per cent.