Godrej Properties Ltd

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

Godrej Properties Ltd

₹ 2,857 5.63%
22 Nov - 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 ₹ 79,447 Cr.
  • Current Price ₹ 2,857
  • High / Low ₹ 3,403 / 1,823
  • Stock P/E 57.3
  • Book Value ₹ 390
  • Dividend Yield 0.00 %
  • ROCE 5.74 %
  • ROE 6.79 %
  • Face Value ₹ 5.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 25.0% CAGR over last 5 years

Cons

  • Stock is trading at 7.32 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 5.40% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.1,957 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 Dollex 200 BSE MidCap Select Index Nifty Midcap Liquid 15 Nifty LargeMidcap 250 BSE 400 MidSmallCap Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
129 279 1,331 245 165 196 1,646 936 343 330 1,426 739 1,093
230 352 1,120 310 275 251 1,300 1,085 438 397 1,303 926 1,064
Operating Profit -100 -73 211 -66 -110 -55 346 -149 -95 -66 123 -187 29
OPM % -78% -26% 16% -27% -66% -28% 21% -16% -28% -20% 9% -25% 3%
205 188 192 182 204 208 284 379 262 218 526 960 253
Interest 41 42 43 34 41 46 54 30 48 43 31 41 45
Depreciation 5 5 6 5 6 6 7 7 7 14 16 17 18
Profit before tax 58 68 354 76 48 101 570 193 111 95 601 716 219
Tax % 39% 43% 27% 43% -39% 44% 20% 31% 35% 34% 20% 28% -52%
36 39 259 43 67 56 454 134 73 63 478 519 334
EPS in Rs 1.29 1.40 9.37 1.64 1.98 2.11 14.82 4.49 2.40 2.24 16.95 18.70 12.06
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,037 1,179 1,843 2,123 1,583 1,604 2,817 2,441 765 1,825 2,252 3,036 3,589
751 897 1,586 1,986 1,330 1,819 2,639 2,181 1,214 1,880 2,045 3,165 3,690
Operating Profit 286 283 257 137 253 -216 178 260 -449 -56 207 -130 -101
OPM % 28% 24% 14% 6% 16% -13% 6% 11% -59% -3% 9% -4% -3%
10 75 83 146 150 499 419 473 568 761 787 1,326 1,957
Interest 3 4 5 41 104 150 234 220 185 167 174 152 160
Depreciation 4 6 10 14 14 16 14 21 20 21 24 45 65
Profit before tax 289 347 326 228 284 117 348 493 -86 516 795 1,000 1,631
Tax % 32% 32% 28% 30% 27% 26% 27% 44% 121% 32% 22% 25%
197 236 236 160 207 87 253 274 -189 351 621 747 1,393
EPS in Rs 6.95 8.00 9.58 7.33 9.56 4.01 11.04 10.73 -6.81 12.68 20.55 26.08 49.95
Dividend Payout % 23% 25% 21% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 10%
5 Years: 2%
3 Years: 58%
TTM: 15%
Compounded Profit Growth
10 Years: 17%
5 Years: 25%
3 Years: 70%
TTM: 110%
Stock Price CAGR
10 Years: 27%
5 Years: 26%
3 Years: 9%
1 Year: 55%
Return on Equity
10 Years: 5%
5 Years: 4%
3 Years: 5%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 1,351 1,694 1,747 1,657 1,896 1,102 2,354 4,682 8,181 8,536 9,125 9,853 10,711
1,678 2,574 3,486 3,123 3,980 3,703 3,516 3,715 4,593 5,196 6,431 10,679 13,590
1,572 1,779 2,030 1,691 1,197 3,358 2,107 1,567 3,333 3,932 7,410 15,063 18,165
Total Liabilities 4,679 6,147 7,363 6,578 7,181 8,271 8,092 10,090 16,245 17,804 23,105 35,735 42,604
51 64 117 107 102 113 97 113 174 183 218 997 1,078
CWIP 36 62 73 1 0 71 100 163 229 340 653 250 193
Investments 0 0 0 664 760 1,454 2,637 3,571 5,243 4,883 2,534 3,150 4,562
4,593 6,021 7,173 5,807 6,319 6,633 5,259 6,243 10,599 12,397 19,700 31,337 36,771
Total Assets 4,679 6,147 7,363 6,578 7,181 8,271 8,092 10,090 16,245 17,804 23,105 35,735 42,604

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 -689 -941 490 -566 1,155 478 -232 -671 -452 -2,861 -693
-15 -185 -96 191 14 -973 -971 -1,721 -3,317 127 2,564 -1,974
-442 1,566 852 -554 335 -493 970 1,974 4,259 235 832 3,258
Net Cash Flow -336 692 -184 126 -217 -311 476 22 271 -90 536 591

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 37 50 34 30 53 36 21 65 120 38 58 37
Inventory Days 5,457 495
Days Payable 457 56
Cash Conversion Cycle 37 50 34 30 53 5,035 461 65 120 38 58 37
Working Capital Days 976 1,020 848 635 1,070 478 263 452 2,617 1,312 1,574 1,565
ROCE % 9% 8% 5% 5% 7% 1% 10% 9% 1% 5% 6% 6%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
58.43% 58.43% 58.43% 58.48% 58.48% 58.48% 58.48% 58.48% 58.48% 58.48% 58.47% 58.47%
29.85% 28.38% 27.73% 27.50% 27.41% 27.09% 28.85% 29.25% 29.73% 29.67% 29.91% 28.33%
4.09% 4.56% 4.92% 4.54% 4.56% 4.69% 4.29% 4.61% 4.69% 5.56% 5.62% 7.12%
7.63% 8.63% 8.92% 9.48% 9.56% 9.74% 8.37% 7.66% 7.10% 6.31% 5.98% 6.08%
No. of Shareholders 1,13,4391,75,1891,87,0962,00,9001,97,6641,98,3011,65,6661,52,7691,41,0351,32,1521,33,4021,38,274

* 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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