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HSBC Global Investment Banking and Jefferies have reiterated their 'Buy' ratings on Godrej Properties Ltd. The brokerages cited strong growth visibility and a robust pre-sales outlook.
HSBC Global raised Godrej Properties' target price to Rs 2,900, implying a 52.6% upside.
KEY POINTS
- Godrej Properties has set FY27 pre-sales growth guidance at 14% YoY, despite global uncertainty.
- Jefferies notes the company announced a dividend after a decade and promoters bought a 5% stake.
- Management projects a 20% reported ROE and FCF turnaround by FY28, driven by higher construction spends.
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