Godrej Properties Share Price Trade Higher After Q1 Profit Rises 12%

Shares of Godrej Properties Ltd., were trading higher on Monday post first-quarter results for fiscal 2025-26. The real estate developer's profit advanced 12.5% year-on-year to Rs 205 crore for the April-June period, from Rs 182 crore in the corresponding quarter in the year-ago period. Meanwhile, the company's revenue from operations (topline) declined 41% to Rs 435 crore, as compared with Rs 739 crore during the same quarter last year.

Earlier today, Jefferies cut its target price for the company, citing a soft start and improvement ahead. The brokerage maintained its 'buy' rating on the stock and cut the target price to Rs 3,000 from Rs 3,200. The target price is set at 15 times embedded profit to June 27 pre-sales.

The brokerage noted that 10% sales growth guidance looks achievable given the strong launch pipeline and an upfronted project add. "Operating cash flow and project delivery performance should also improve in quarters ahead, as per seasonality," it added.

Shares of Godrej Properties rose as much as 0.89% to Rs 2,068.90 apiece. They pared losses to trade 0.12% higher at Rs 2,053 apiece, as of 9:33 a.m. This compares to a 0.33% advance in the NSE Nifty 50.

The stock has fallen 31.20% in the last 12 months and 25.72% year-to-date. Total traded volume so far in the day stood at 0.75 times its 30-day average. The relative strength index was at 38.75.

Out of 21 analysts tracking the company, 16 maintain a 'buy' rating, one recommend a 'hold' and four suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 33.1%.