BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Godrej Properties Ltd. reported its highest ever sales bookings for the second consecutive quarter with pre-sales of Rs 40 billion (up 25% YoY/QoQ and 12% above our estimate) in Q4 FY23.
For FY23, bookings stood at Rs 122 billion (up 56% YoY) and surpassed its full-year guidance of Rs 100 billion.
Sales volume was up 24% YoY/19% QoQ to 5.3 million square feet and was the highest ever at 15 msf for FY23. Blended realisations were flat YoY at ~Rs 7,700/square feet but improved 8% QoQ due to mix improvement.
Godrej Properties launched 7.6 msf of projects in Q4 FY23 (~15 msf in FY23) that contributed ~60% of sales during the quarter.
The company has stated that it will launch a 20 msf project pipeline in FY24 and expects to deliver R 140 billion of sales bookings in FY24 (up 15% YoY).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
