Godrej Properties share price: Jefferies says BUY, price target Rs 1747
Godrej Properties management reiterated confidence on medium-term growth as it targets pre-sales to rise 50% by FY23. Near term, the second wave has led to reduced sales velocity and a 25% loss in labour force, though operational impact should be lower than 2020. Jefferies trimmed its FY22 pre-sales forecast by 13%, but still expected a record year
A net cash balance sheet and strong customer franchise make Godrej Properties well-placed to benefit from the housing upcycle. Jefferies says it maintains Buy rating on the stock: Reuters