Godrej Properties Ltd.
Realty · NSE
52-week range
₹1,434 – ₹2,507
From 52w high
-25.3%
RSI (14)
60.9
vs SMA 50 / 200
↑ 50 · ↓ 200
Godrej Properties (₹1,873.6) is a large-cap NSE-listed real estate developer in the Realty sector, reporting 5-year revenue growth of 63% and earnings growth of 70.1%, alongside a record FY26 bookings cycle. The stock trades 3.8% below its 200-DMA and is down 10.3% over 12 months despite a 9.5% recovery in the past 3 months; trailing PE stands at 30.5x against a forward PE of 17.7x.
- ✓Five-year revenue growth of 63% and earnings growth of 70.1% reflect strong top-line and bottom-line compounding over the cycle, with Q4 FY26 profit reported up ~70% YoY.
- ✓Profit margin of 36.1% is high relative to typical developer economics, and a ₹10 dividend was proposed for FY26 alongside record consolidated bookings and collections.
- ✓Forward PE of 17.7x represents a meaningful compression from the trailing PE of 30.5x, suggesting analyst consensus models a significant step-up in near-term earnings.
- ✓Analyst mean rating of 1.82 across 22 analysts (1–5 scale, lower = more constructive), with management guiding 20% bookings growth for FY27.
- ✗FCF-positive years = 0 of available history and ROE has never exceeded 15% in any tracked year; profits are not converting into free cash, consistent with a land-acquisition and project-cycle-heavy business model that continuously absorbs capital.
- ✗Debt/equity of 82.1 with a rising debt trend and a consistency score of 35 out of 100 indicate that earnings predictability is low and the balance sheet carries elevated leverage that is still expanding.
- ✗Quality score of 41 ranks 5th of 6 Realty peers, and ROE of 9.97% ranks 4th of 6, trailing Lodha, Oberoi Realty, and Phoenix Mills on capital efficiency within the sector.
- ✗The stock is 10.3% below its level of 12 months ago and 3.8% below the 200-DMA, with a 25.3% drawdown from the 52-week high, indicating the medium-term price trend remains below key moving average levels despite recent short-term recovery.
- ·FY26 closed with record bookings and collections; management has guided 20% bookings growth for FY27, and Q4 profit jumped ~70% YoY with margins expanding — details covered across multiple TradingView reports on 4–9 May 2026.
- ·Choice Institutional Equities published a note on 5 May 2026 with a stated price target of ₹2,520, citing the company name explicitly; the current price of ₹1,873.6 sits 25.3% below their stated figure.
- ·The stock briefly spiked on Q4 results before paring gains to approximately 2%, suggesting the market partially discounted the strong print ahead of the announcement — price closed back near pre-results levels on results day.
- ?Does the consistent absence of free cash flow reflect a structural feature of Godrej Properties' project-cycle model, or does it indicate that scale has not yet reached a level where capital is recycled efficiently?
- ?How does the 20% FY27 bookings growth guidance hold up under scenarios where residential real estate demand moderates — what portion of the land bank is pre-sold versus speculative?
- ?The forward PE of 17.7x implies a sharp earnings step-up from the trailing PE of 30.5x; what execution milestones (project deliveries, collections timing) would need to materialise for that earnings expansion to occur?
- ?With D/E at 82.1 and a rising debt trend, what triggers — interest rate changes, pre-sales slowdowns, or regulatory delays — could accelerate leverage to levels that pressure the balance sheet?
PE
30.5
Forward PE
17.7
ROE
+10.0%
Profit margin
+36.1%
D/E
82.12
Dividend yield
+0.5%
Quality score
41/100
ROE 5y above 15%
0/5 yrs
FCF 5y positive
0/5 yrs
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.Analysis generated 11 May 2026.