Godrej Properties Ltd

Godrej Propert. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Godrej Properties Ltd

₹ 2,856 -0.30%
26 Dec - close price
godrejproperties.com BSE: 533150 NSE: GODREJPROP
About

Godrej Properties Limited (GPL) is the real estate development arm of the Godrej Group, which was started in 1897 and is today one of India’s most successful conglomerates. Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. [1]

Key Points

Overview[1]
Established in 1990, Godrej Properties is India’s largest developer by number of homes sold in FY23. Company has delivered ~41 million sq. ft. of real estate since FY18. It has ~215 million sq. ft. of saleable area across India and works on an asset-light business model. The company has bagged ~400 awards in the last 5 years.

Website BSE NSE
  • Market Cap ₹ 86,105 Cr.
  • Current Price ₹ 2,856
  • High / Low ₹ 3,403 / 1,981
  • Stock P/E 84.6
  • Book Value ₹ 403
  • Dividend Yield 0.00 %
  • ROCE 5.42 %
  • ROE 4.80 %
  • Face Value ₹ 5.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 23.9% CAGR over last 5 years

Cons

  • Stock is trading at 7.08 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -12.0%
  • Company has a low return on equity of 5.37% over last 3 years.
  • Earnings include an other income of Rs.2,025 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Realty Industry: Construction

Part of BSE 250 LargeMidCap Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 BSE MidCap Select Index BSE 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
114 244 1,085 214 152 178 610 310 225 136 660 189 663
160 244 883 192 174 176 476 349 258 190 610 386 703
Operating Profit -46 0 202 22 -22 3 134 -39 -33 -54 49 -197 -40
OPM % -40% 0% 19% 10% -14% 1% 22% -12% -15% -40% 7% -104% -6%
222 222 218 225 237 249 234 258 275 316 346 987 375
Interest 52 52 66 56 59 61 57 55 85 118 121 112 148
Depreciation 4 5 5 4 4 5 5 5 5 6 7 8 9
Profit before tax 120 166 348 187 152 186 306 158 151 138 267 669 178
Tax % 25% 24% 27% 25% 22% 30% 13% 23% 19% 25% 19% 27% -16%
89 125 255 141 119 130 267 121 123 103 217 491 206
EPS in Rs 3.21 4.51 9.17 5.05 4.28 4.67 9.59 4.36 4.42 3.72 7.80 17.67 7.42
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
427 664 517 374 999 556 1,434 2,085 570 1,473 1,155 1,331 1,649
287 547 409 399 785 682 1,344 1,700 908 1,378 1,017 1,407 1,890
Operating Profit 140 117 108 -25 214 -125 90 385 -337 95 138 -76 -241
OPM % 33% 18% 21% -7% 21% -22% 6% 18% -59% 6% 12% -6% -15%
63 103 202 222 222 494 460 520 657 858 945 1,195 2,025
Interest 60 119 158 152 157 192 252 266 221 222 233 380 500
Depreciation 4 5 9 14 13 15 13 17 16 18 19 24 31
Profit before tax 140 96 144 32 266 162 285 622 83 714 831 714 1,252
Tax % 12% -2% 11% 28% 26% 35% 27% 38% 152% 26% 21% 21%
123 98 128 23 197 105 209 384 -43 526 656 564 1,018
EPS in Rs 6.16 4.90 6.42 1.05 9.08 4.85 9.13 15.24 -1.55 18.92 23.58 20.30 36.61
Dividend Payout % 25% 41% 31% 209% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 7%
5 Years: -1%
3 Years: 33%
TTM: 25%
Compounded Profit Growth
10 Years: 18%
5 Years: 24%
3 Years: 173%
TTM: 59%
Stock Price CAGR
10 Years: 28%
5 Years: 24%
3 Years: 16%
1 Year: 42%
Return on Equity
10 Years: 5%
5 Years: 5%
3 Years: 5%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 78 99 100 108 108 108 115 126 139 139 139 139 139
Reserves 1,286 1,691 1,819 1,677 1,882 1,340 2,542 4,980 8,616 9,145 9,806 10,373 11,073
786 1,665 2,088 2,775 3,506 3,703 3,516 3,708 4,578 5,185 6,410 10,100 12,855
617 719 573 787 612 2,067 1,604 1,090 1,628 1,632 3,585 7,298 9,809
Total Liabilities 2,767 4,175 4,579 5,348 6,108 7,218 7,777 9,904 14,962 16,102 19,940 27,911 33,876
12 41 39 109 104 116 101 117 163 176 209 258 350
CWIP 46 70 83 1 0 0 4 14 9 22 99 233 169
Investments 170 316 558 718 767 1,341 2,466 3,392 5,280 5,118 3,087 4,385 5,559
2,539 3,748 3,900 4,520 5,237 5,760 5,207 6,381 9,510 10,786 16,545 23,034 27,796
Total Assets 2,767 4,175 4,579 5,348 6,108 7,218 7,777 9,904 14,962 16,102 19,940 27,911 33,876

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
121 -448 -428 -418 -656 504 127 67 -593 22 -1,894 180
-20 -359 -87 199 22 -363 -646 -2,056 -3,467 -439 1,305 -2,449
-491 1,415 219 332 415 -451 971 1,978 4,387 296 842 2,825
Net Cash Flow -390 608 -296 112 -219 -310 452 -11 327 -121 253 555

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 54 64 64 73 54 69 26 67 129 36 50 44
Inventory Days 1,152 1,029 7,841
Days Payable 104 355 1,302
Cash Conversion Cycle 54 64 64 73 54 69 1,074 740 129 6,575 50 44
Working Capital Days 1,451 1,154 1,833 3,322 1,557 1,815 701 687 3,689 1,666 3,155 3,444
ROCE % 8% 8% 7% 4% 8% 3% 8% 11% 2% 6% 6% 5%

Shareholding Pattern

Numbers in percentages

6 Recently
Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
58.43% 58.43% 58.48% 58.48% 58.48% 58.48% 58.48% 58.48% 58.48% 58.47% 58.47% 46.48%
28.38% 27.73% 27.50% 27.41% 27.09% 28.85% 29.25% 29.73% 29.67% 29.91% 28.33% 31.09%
4.56% 4.92% 4.54% 4.56% 4.69% 4.29% 4.61% 4.69% 5.56% 5.62% 7.12% 9.23%
8.63% 8.92% 9.48% 9.56% 9.74% 8.37% 7.66% 7.10% 6.31% 5.98% 6.08% 13.20%
No. of Shareholders 1,75,1891,87,0962,00,9001,97,6641,98,3011,65,6661,52,7691,41,0351,32,1521,33,4021,38,2741,44,425

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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