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Last Updated : Jun 07, 2017 04:07 PM IST | Source:

Hold Godrej Properties; target of Rs 520: Edelweiss

Edelweiss recommended hold rating on Godrej Properties with a target price of Rs 520 in its research report dated June 06, 2017.

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Edelweiss' research report on Godrej Properties

Godrej Properties (GPL) has acquired a new group housing project in Sohna (new market entry), further expanding its NCR foray. Despite sluggish residential demand in NCR over last 4 years, GPL has leveraged its strong brand name and product quality well, leading to strong sales in most of its ongoing NCR projects.


For its Sohna project we estimate sales potential of INR 4.3bn; NAV of INR 4/share. In our view, GPL’s new projects pipeline, prospects of portfolio expansion, strong brand name and tailwinds from RERA & affordable housing incentives are largely priced in. Hence, we maintain ‘HOLD’.

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First Published on Jun 7, 2017 04:07 pm
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