Investec highlighted strong growth trends alongside the company’s efforts to diversify its operations, noting that it is not overly reliant on a single region for growth.
Additionally, Investec points out that Godrej Properties enjoys established brand recognition, contributing to more sustainable sales performance.
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Shares of Godrej Properties fell as much as 3% to Rs 3,160 in Thursday’s intraday trade. Its shares have surged 58% in 2024 to date and 170% over the past two years, with the company currently holding a market capitalization of Rs 87,791 crore.In Q1 FY25, Godrej Properties reported a whopping 316% YoY jump in its profit after tax (PAT) to Rs 520 crore, while its revenue from operations declined by 21% on a year-on-year basis. The company’s revenue from operations stood at Rs 739 crore for the first quarter versus Rs 936.09 crore for the corresponding quarter of the previous year. The company’s total income, however, rose by 25% YoY to Rs 1,638 crore.
The EBITDA for the fourth quarter also witnessed an increase of 237% to Rs 774 crore against Rs 230 crore in the year-ago period.
Technically, the stock’s relative strength index (RSI) stands at 63.8. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at 46.2, which is above its center and signal Line, this is a bullish indicator.
The stock is currently trading above its 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
