Choice Institutional Equities Sets Rs 2520 Price Target for Godrej Properties

Godrej Properties Posts Record Profitability in Q4FY26

Godrej Properties Limited (GPL) has reported a remarkable performance in the fourth quarter of fiscal year 2026 (Q4FY26), marked by record profitability, sustained sales momentum, and strong cash flow generation. The company's business development reached a significant milestone of INR 421 billion in FY26, exceeding its guidance by a substantial 211%.

Key Drivers of Success

The strong sales in Q4FY26 were primarily driven by a robust demand in key new project launches. Notably, the company witnessed significant traction in Bengaluru with the launch of Godrej Aveline, which contributed INR 15.7 billion to sales, followed closely by Godrej Parkshire with INR 7.6 billion. Additionally, sales from Godrej Arden in Greater Noida, Godrej Varanya in MMR, and Godrej Ivara in Pune also performed well, with contributions of INR 15.3 billion, INR 6.3 billion, and INR 3.5 billion, respectively.

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Outlook and Recommendations

Following this exceptional performance, we maintain our 'BUY' rating on GPL. Utilizing the SOTP valuation approach, we have estimated a target price of INR 2,520 per share, factoring in the company's ongoing and upcoming owned/JV projects, DM & commercial project pipeline, and its substantial land bank.

Note: The growth rate in the table represents the percentage of the company's guidance achieved in Q4FY26.

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