Godrej Properties Ltd., incorporated in the year 1985, is a Large Cap company (having a market cap of Rs 44849.63 Crore) operating in Real Estate sector.
Godrej Properties Ltd. key Products/Revenue Segments include Income From Real Estate Development, Sale of services, Other Operating Revenue and Lease Rentals for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 261.99 Crore, down -54.52 % from last quarter Total Income of Rs 576.08 Crore and up 33.90 % from last year same quarter Total Income of Rs 195.66 Crore. Company reported net profit after tax of Rs 46.68 Crore in latest quarter.
Investment Rationale
The stock has witnessed a strong buying demand in the current week from the support area of Rs 1450 as it is the confluence of the 50% retracement of May-August rally (Rs 1200-1698) and the rising demand line joining lows since October 2020 highlighting positive price structure and offers fresh entry opportunity. Going ahead, the brokerage expects the stock to maintain positive bias and head towards Rs 1795 in coming months as it is 138.2% external retracement of recent breather(Rs 1698-1431).
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.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
