Godrej Properties

₹1430.2 5 | 0.4%

WEBSITE BSE:533150 NSE : GODREJ PROP 09 Jun, 13:21

Market Cap ₹39765 Cr.

Stock P/E 69.6

P/B 4.3

Current Price ₹1430.2

Book Value ₹ 333.2

Face Value 5

52W High ₹1530.8

Dividend Yield 0%

52W Low ₹ 1005.7

Edit Ratio

Godrej Properties Research see more...

Overview Inc. Year: 1985Industry: Construction - Real Estate

Godrej Properties Limited is an India-based real estate organisation. The Company is engaged mostly in the business of property construction, improvement and different associated activities. The Company focuses on growing residential and industrial tasks. It operates in about 12 domestic places. The Company operates in India across cities along with Mumbai, Pune, Kolkata, Nagpur, Chennai, National Capital Region (NCR), Bangalore, Ahmedabad, Mangalore and Chandigarh.

Godrej Properties Share Price

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

Godrej Properties Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	170	433	86	129	279	1331	245	165	196	1646
Other Income	141	143	176	205	188	192	182	204	208	193
Total Income	311	576	262	334	467	1523	426	369	405	1839
Total Expenditure	225	587	150	185	284	1073	259	232	213	1300
Operating Profit	86	-11	112	149	183	450	168	137	192	539
Interest	45	41	42	41	42	43	34	41	46	54
Depreciation	5	5	5	5	5	6	5	6	6	7
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	36	-57	66	102	136	401	128	91	139	478
Provision for Tax	17	67	19	23	29	96	33	-19	45	116
Profit After Tax	19	-123	47	80	107	306	95	109	95	363
Adjustments	-5	-68	-30	-44	-68	-45	-49	-54	-36	50
Profit After Adjustments	14	-192	17	36	39	260	46	55	59	412
Adjusted Earnings Per Share	0.6	-6.9	0.6	1.3	1.4	9.4	1.6	2	2.1	14.8

Godrej Properties Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	770	1037	1179	1843	2123	1583	1604	2817	2441	765	1825	2252
Other Income	50	10	79	83	129	118	499	405	473	568	761	787
Total Income	820	1048	1258	1927	2252	1701	2102	3222	2915	1333	2586	3039
Total Expenditure	612	751	901	1586	1986	1330	1783	2639	2096	1098	1692	2004
Operating Profit	208	296	358	341	266	371	320	583	819	235	894	1036
Interest	5	3	4	5	41	104	150	234	220	185	167	175
Depreciation	4	4	6	10	14	15	16	14	21	20	21	24
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	199	289	347	326	211	253	153	334	578	30	705	836
Provision for Tax	70	92	111	90	68	78	30	95	219	104	166	175
Profit After Tax	129	197	236	236	143	175	123	239	359	-73	539	662
Adjustments	-31	-59	-77	-45	15	32	-37	14	-89	-116	-187	-89
Profit After Adjustments	98	138	159	191	159	207	87	253	271	-189	352	572
Adjusted Earnings Per Share	5.8	8.2	8	9.6	7.3	9.6	4	11	10.7	-6.8	12.7	20.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	139%	-13%	3%	9%
Operating Profit CAGR	280%	15%	19%	16%
PAT CAGR	0%	31%	25%	15%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	4%	20%	13%	19%
ROE Average	6%	5%	7%	10%
ROCE Average	7%	7%	7%	7%

Godrej Properties Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	1443	1429	1793	1847	1765	2004	1210	2469	4808	8320	8675
Minority's Interest	47	106	203	228	0	0	0	0	0	0	-2
Borrowings	189	376	286	567	500	475	500	500	0	1000	1000
Other Non-Current Liabilities	95	146	134	262	-117	-153	-629	-503	-331	-131	-194
Total Current Liabilities	3113	2913	4061	4871	4308	4696	6550	5111	5264	6777	8021
Total Liabilities	4886	4969	6478	7776	6456	7022	7631	7577	9742	15966	17500
Fixed Assets	46	51	64	117	107	102	110	94	103	151	149
Other Non-Current Assets	186	349	331	532	496	611	1200	1963	1994	2731	2251
Total Current Assets	4655	4569	6083	7126	5853	6309	6321	5520	7645	13083	15100
Total Assets	4886	4969	6478	7776	6456	7022	7631	7577	9742	15966	17500

Godrej Properties Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	138	503	168	860	-89	37	-189	-500	-24	-2	269
Cash Flow from Operating Activities	-1226	121	-689	-941	490	-344	1155	478	-232	-671	-452
Cash Flow from Investing Activities	28	-15	-185	-96	186	-196	-973	-981	-1721	-3322	124
Cash Flow from Financing Activities	1564	-442	1566	852	-554	315	-493	970	1974	4259	235
Net Cash Inflow / Outflow	366	-336	692	-184	122	-225	-311	467	21	266	-93
Closing Cash & Cash Equivalent	503	168	860	676	37	-189	-500	-24	-2	269	179

Godrej Properties Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	5.83	8.24	8.04	9.58	7.33	9.56	4.01	11.04	10.73	-6.81	12.68
CEPS(Rs)	7.9	12.01	12.21	12.32	7.29	8.76	6.45	11.06	15.06	-1.93	20.17
DPS(Rs)	1.5	2	2	2	0	0	0	0	0	0	0
Book NAV/Share(Rs)	85.84	84.93	92.45	92.4	81.43	92.44	55.7	107.44	190.53	299.15	311.92
Core EBITDA Margin(%)	20.52	27.56	23.61	13.96	6.44	15.96	-11.16	6.32	14.15	-43.58	7.3
EBIT Margin(%)	26.47	28.14	29.84	17.94	11.87	22.53	18.93	20.17	32.69	28.14	47.81
Pre Tax Margin(%)	25.78	27.85	29.46	17.69	9.96	15.97	9.57	11.86	23.68	3.98	38.64
PAT Margin (%)	16.72	19.02	20.04	12.78	6.76	11.06	7.7	8.49	14.71	-9.57	29.55
Cash Profit Margin (%)	17.23	19.45	20.53	13.32	7.43	11.98	8.7	9	15.55	-7.02	30.73
ROA(%)	3.53	4	4.13	3.31	2.02	2.6	1.69	3.15	4.15	-0.57	3.22
ROE(%)	10.95	13.76	14.5	12.82	7.96	9.31	7.7	13.04	9.88	-1.12	6.35
ROCE(%)	7.57	8.8	9.42	6.82	4.93	6.56	5.57	10.43	11.01	2.02	6.55
Receivable days	68.67	62.22	41	32.64	29.37	46.43	44.04	20.47	44.3	163.07	44.24
Inventory Days	889.65	1051.16	1077.47	837.09	743.74	909.57	876.19	385.04	324.13	1652.63	1047.04
Payable days	365.54	465.58	331.93	174.08	137.7	187.74	111.3	46.64	112.93	1006.91	635.27
PER(x)	49.29	29.84	26.53	26.23	40.41	40.34	180.81	73.77	56.15	0	131.91
Price/Book(x)	3.35	2.9	2.31	2.72	3.64	4.17	13.03	7.58	3.16	4.71	5.36
Dividend Yield(%)	0.49	0.76	0.94	0.8	0	0	0	0	0	0	0
EV/Net Sales(x)	8.29	5.44	5.03	4.23	4.44	7.71	11.9	7.75	7.53	56.19	27.54
EV/Core EBITDA(x)	30.72	19.03	16.59	22.89	35.42	32.9	59.7	37.5	22.47	183.06	56.22
Net Sales Growth(%)	70.55	34.68	13.7	56.3	15.17	-25.43	1.31	75.68	-13.34	-68.67	138.57
EBIT Growth(%)	-2.22	43.16	20.56	-6.01	-23.83	41.58	-14.88	87.21	40.44	-73.03	305.32
PAT Growth(%)	-9.73	53.19	19.77	-0.3	-39.12	22.1	-29.5	93.75	50.11	-120.39	836.42
EPS Growth(%)	-33.02	41.35	-2.42	19.06	-23.44	30.36	-58	174.97	-2.76	-163.45	286.12
Debt/Equity(x)	1.45	1.18	1.4	1.89	1.77	1.99	3.07	1.43	0.77	0.54	0.59
Current Ratio(x)	1.5	1.57	1.5	1.46	1.36	1.34	0.97	1.08	1.45	1.93	1.88
Quick Ratio(x)	0.62	0.46	0.58	0.49	0.45	0.5	0.4	0.65	1.05	1.22	1.18
Interest Cover(x)	38.4	97.25	78.54	69.92	6.21	3.44	2.02	2.43	3.63	1.16	5.21
Total Debt/Mcap(x)	0.43	0.41	0.61	0.7	0.49	0.48	0.24	0.19	0.24	0.12	0.11

Godrej Properties Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	64.44	58.44	58.43	58.43	58.43	58.43	58.43	58.48	58.48	58.48
FII	20.21	28.2	28.07	30.02	29.85	28.38	27.73	27.5	27.41	27.09
DII	5.56	5.21	5.14	4.33	4.09	4.56	4.92	4.54	4.55	4.69
Public	9.79	8.15	8.36	7.22	7.63	8.63	8.92	9.48	9.55	9.74
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	16.24	16.24	16.24	16.24	16.24	16.24	16.24	16.26	16.26	16.26
FII	5.09	7.84	7.8	8.35	8.3	7.89	7.71	7.65	7.62	7.53
DII	1.4	1.45	1.43	1.2	1.14	1.27	1.37	1.26	1.27	1.3
Public	2.47	2.26	2.32	2.01	2.12	2.4	2.48	2.63	2.65	2.71
Others	0	0	0	0	0	0	0	0	0	0
Total	25.21	27.79	27.8	27.8	27.8	27.8	27.8	27.8	27.8	27.8

Pros

Company has delivered good profit growth of 25% CAGR over last 5 years
Debtor days have improved from 1006.91 to 635.27days.

Cons

Company has a low return on equity of 5% over the last 3 years.
Stock is trading at 4.3 times its book value.
Earnings include an other income of Rs. 761 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.