Motilal Oswal's research report on Godrej Properties
Godrej Properties (GPL) FY23 annual report highlights its key strategic objectives: a) target to achieve INR140b in pre-sales, fueled by a robust launch pipeline; b) capitalize on its strong balance sheet to boost market share through business development; and c) maintain its commitment to implementing and advancing sustainability initiatives.
Outlook
During the quarter, the company successfully added INR64.5b worth of projects and is on track to add INR150b of projects in FY24. This will continue to provide strong visibility on pre-sales growth. Thus, we reiterate our BUY rating on the stock with a TP of INR1,915.
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