Godrej Properties share price: Buy Godrej Properties, target price Rs 1675: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Godrej Properties with a target price of Rs 1675. The current market price of Godrej Properties is Rs 1602.2. Time period given by analyst is Intra Day when Godrej Properties price can reach defined target.

Godrej Properties Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 44541.08 Crore) operating in Real Estate sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 576.08 Crore, up 85.16 % from last quarter Total Income of Rs 311.12 Crore and down -55.28 % from last year same quarter Total Income of Rs 1288.17 Crore. Company reported net profit after tax of Rs -123.38 Crore in latest quarter.

Investment Rationale
Stock has been forming higher highs from the last five weeks.

Promoter/FII Holdings
Promoters held 64.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 20.3 per cent, DIIs 4.8 per cent and public and others 10.5 per cent.