Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Oct - Intimation of Schedule of the Investor and Analysts Conference Call
Source: Bse
Godrej Properties Limited (GODREJPROP)
Mid CapReal Estate stocks · Mid cap · NSE
Godrej Properties Ltd. is India's largest residential real estate developer by booking value, volume, and collections in FY25 and FY26. It has delivered ~78 million sq. ft. since FY18 and manages ~250 million sq. ft. of saleable area across India, leveraging the Godrej brand's reputation for trust and quality.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result04 Aug, 04:57 pm IST
Score20 Oct, 05:15 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Real Estate P/E 22.2 (n=72)
Technical timing lens
Trend score and candlestick chart
38BearishSMA20 -15.2% / mo · MACD + · near 52W low · sector -6.4pp vs Nifty 500 (3M)
Stock trend: 34
Sector RS: 44
Sector 3M: -12.0% vs Nifty 500 -5.6%
Real Estate FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
GODREJPROPD candles · FIT view-10.2%Latest close ₹1589.00 on 2026-10-19
Bar
-1.0%
RSI
38
MACD hist
13.31
52W pos
17%
2026-10-19O ₹1605.00H ₹1627.50L ₹1579.20C ₹1589.00Vol 2.6L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
GODREJPROPNifty RealtyNifty 500
- GODREJPROP
- -25.0%
- Nifty 500
- -5.6%
- Nifty Realty
- -11.0%
- Vs Nifty 500
- -19.4 pp
Chart stats
19 Oct 2026- From 52W high
- -32.4%
- 52W range position
- 17%
- ATR (14)
- 3.0%
- Volume vs 20D
- 0.57x
- Avg traded value
- ₹71.2 Cr
- 20D price channel
- ₹1,530 - ₹1,732
₹2,352
₹1,434 - ₹2,352
₹48.1
Latest completed session
20-session average
26.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST33
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad15
Revenue +16.3% · PAT -41.6% YoY
Technical
Bearish38
Price trend and sector-relative-strength timing.
Valuation
Legacy model+10.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence55
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 15/100PAT -42% YoY · Rev +16% YoY · margin expansion
Filed 04 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹506 Cr | +16.3% | -85.4% |
| EBITDA | ₹-294 Cr | -8.9% | -156.3% |
| Operating margin | -58.0% | +400 bps | -7300 bps |
| PAT | ₹349 Cr | -41.6% | -45.9% |
| PAT margin | 69.0% | -6850 bps | +5032 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 29.60
- P/B
- 2.50
- EV/EBITDA
- —
- Market Cap
- 47865.00Cr
Profitability
- ROE
- 8.82%
- ROCE
- 7.63%
- ROA
- 1.95%
- Dividend Y
- 0.65%
Growth (CAGR)
- Revenue 5Y
- 46.00%
- EPS 5Y
- 56.00%
- Revenue 3Y
- 32.00%
- EPS 3Y
- 49.00%
Balance Sheet
- Debt/Equity
- 0.83
- Interest Coverage
- -4.03×
- Altman Z
- 0.91
- Book Value
- 636.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- -2003.00 Cr
- EPS TTM
- 53.13
Shareholding
- Promoter Hold
- 51.66%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 17%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 5,131+4.2% vs prev
Net Profit
₹ CrLatest: 1,841+32.5% vs prev
Return on Equity
%Latest: 9.6+19.8% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 38. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~17.9% over last month) — short-term momentum negative.
- RSI(14) at 38 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 32% off 52W high · 11% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
13
RS percentile
Stage 4 Downtrend
1M return
-6.0%
3M return
-25.0%
6M return
-13.3%
1Y return
-30.8%
RS 1D
+1
RS 20D
-18
Sector rank
#12
Industry rank
#18
Stage evidence
- Price is 12.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.5%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 83.64+0.13%
RS vs Nifty 50084
Valuation & peers
U-Score 33 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 33 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · WATCHLISTValuation4/30
Growth20/25
Quality2/20
Balance Sheet2/15
Cash Flow1/10
Piotroski
5/9 (+3)
Penalties
1
Raw sum
33
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
33/100 · legacy band WATCHLIST
Positive drivers
- Fair-value margin of safety is positive at 10.2%.
- Growth contributes 20/25 to the score.
- Valuation contributes 4/30 to the score.
Main drags
- Altman Z is 0.9, in distress territory.
- Quality is weaker at 2/20; verify the latest quarterly trend.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
Sector valuation model
Real estate valuation: NAV, pre-sales, debt, and inventory quality
Real estate valuation depends more on project economics and balance sheet than simple PE.
Primary lens
NAV and market cap versus project pipeline and pre-sales.
Secondary checks
Inventory age, net debt, collections, execution record.
Main risk check
Book value can overstate value if inventory is slow or debt is high.
PE
29.6
PB
2.5
EV/EBITDA
—
ROE
8.8%
ROCE
7.6%
FCF Yield
—
Debt/Equity
0.8
MoS
+10.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
33
Previous: 33
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+10.2%
Previous: +10.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
33
33
33
33
33
33
31
31
31
31
33
33
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹871.95
-82.2% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹1,769.23
+10.2% MoS
PEG
0.56
Comparable companies
Peers
Business-comparable peers in Real Estate — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
PRESTIGE
Mid
Prestige Estates Projects Limited
Real Estate
match 164
25
55.8
7.5%
-67%
OVERVALUED
OBEROIRLTY
Mid
Oberoi Realty Limited
Real Estate
match 163
55
23.4
14.6%
+30%
FAIR VALUE
BRIGADE
Small
Brigade Enterprises Limited
Real Estate
match 156
34
27.5
10.5%
+19%
WATCHLIST
ANANTRAJ
Small
Anant Raj Limited
Real Estate
match 155
45
31.0
11.2%
+8%
WATCHLIST
SOBHA
Large
Sobha Limited
Real Estate
match 154
28
55.9
4.2%
-64%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T19:14:39.826Z
Management commentary snapshot
Godrej Properties reported highest ever FY26 bookings of INR 34,171 crore (up 16% YoY) and collections of INR 19,965 crore (up 17% YoY), exceeding annual guidance for booking value and business development. Q4 FY26 also saw record quarterly collections and operating cash flow.
The company continues to demonstrate strong operational execution, consistently surpassing its booking value and business development guidance. Record FY26 performance across key metrics, coupled with a robust project pipeline and strategic market expansion, reinforces its market leadership and growth trajectory.
Current business mix
FY26 Booking Value by Geography
Latest issuer-disclosed distribution across 6 reported categories.
MMR30.2%
Bengaluru25.8%
NCR21.7%
Pune10.7%
Hyderabad6.9%
Others4.8%
Growth engines
Strong Brand Equity
Godrej Properties ranked as the most trusted real estate brand in 2023 Brand Trust Report, leveraging Godrej brand's reputation for trust and quality.
Effective Land Sourcing
Competitive advantage in sourcing and executing outright/joint development projects with higher economic interest, driving capital efficient and high ROE model.
Robust Project Pipeline
Added 98 residential projects with ~187 million sq. ft. saleable area since FY18, ensuring a strong future development pipeline.
Market Expansion
Expanding presence in new micro-markets within core cities and testing new markets through plotted development projects (e.g., Indore, Panipat, Raipur, Baroda, Coimbatore).
Capacity and execution
FY26 Business Development
Added 18 new projects in FY26 with an estimated saleable area of 33.32 million sq. ft. and expected booking value of INR 42,100 crore.
Q4 FY26 Business Development
Added 6 new projects in Q4 FY26 with an estimated saleable area of ~11 million sq. ft. and expected booking value of INR 17,450 crore.
Commercial Portfolio Expansion
Two commercial assets (1.47 msf) are under construction with expected completion in FY27, adding ~INR 200 crore p.a. rental potential.
Tailwinds
Promoter Confidence
Promoters invested INR 2,674 crore to acquire 5.0% in GPL in FY26 at an average price 21% higher than year-end stock price, utilizing creeping acquisition limit.
Diversified Geographic Growth
Rapid growth achieved across regions, with sales well diversified geographically and 11 projects generating over INR 1,000 crore booking value in FY26.
Sustainability Leadership
Ranked #1 globally in Real Estate and Management (REM) sector by S&P Global and GRESB, enhancing brand and potentially attracting ESG-focused capital.
Favorable Market Conditions in New Geographies
Coimbatore's diversified economy, robust infrastructure, rising disposable incomes, and steady economic momentum support sustained housing demand.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for real estate due to the lumpy nature of project launches and deliveries, providing a clearer view of annual performance and trends. QoQ is also relevant to assess sequential momentum from new project launches and quarterly operational efficiency.
Sector KPIs management disclosed
Presales (Booking Value)
FY26 booking value grew 16% YoY to INR 34,171 crore, achieving 105% of annual guidance. Q4 FY26 booking value was INR 10,163 crore, equaling Q4 FY25 and growing 21% QoQ.
Collections
FY26 collections stood at INR 19,965 crore, a 17% YoY growth, achieving 95% of annual guidance. Q4 FY26 collections were INR 7,947 crore, up 14% YoY and 86% QoQ, highest ever quarterly.
Launches
Launched 38 projects/phases across 11 cities in FY26 with 33.2 million sq. ft. and estimated saleable value of INR 42,200 crore, exceeding guidance by 6%.
Project Pipeline (Business Development)
Added 18 new projects in FY26 with 33.32 million sq. ft. and expected booking value of INR 42,100 crore, more than doubling initial guidance. Added 6 new projects in Q4 FY26 with ~11 million sq. ft. and expected booking value of INR 17,450 crore.
Management forward view
ROE Target
GPL intends to deliver 20% ROE from FY28 while retaining market share leadership across cycles.
FY27 Guidance
Management guides for FY27 launch value of INR 48,000 crore, booking value of INR 39,000 crore, and customer collections of INR 24,000 crore.
Execution Focus
Focus on best-in-class scalable execution ecosystem to enhance construction speed, with 62% YoY increase in direct construction spend in FY26.
Asset Management
Robust playbook for critical decision-making at product conceptualization stage and fast turnaround of projects, with 95% of FY23-FY25 acquired projects launched.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Booking Value Growth | INR 34,171 crore (FY26) | Achievement of FY27 guidance of INR 39,000 crore and continued market share leadership. |
| Business Development Pipeline | INR 42,100 crore (FY26 expected booking value added) | Consistent addition of high-potential projects, meeting or exceeding FY27 guidance of INR 20,000 crore. |
| Customer Collections | INR 19,965 crore (FY26) | Achievement of FY27 guidance of INR 24,000 crore, indicating strong cash conversion. |
| Net Debt/Equity Ratio | 0.33x (as of Mar 31, 2026) | Maintenance of healthy leverage ratios amidst aggressive business development and construction spend. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
55Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 16th percentile of the scored universe and 28th percentile within Real Estate. Main check: cash conversion is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
157 docs text-extracted · 75 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
16th percentile
overall median 67 · Real Estate: 28th pctile, median 61 · Mid: 7th pctile, median 76
Evidence depth
Financial-only
157 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
82
strong · holding, pledge, alignment
Cash flow
40
weak · profit to cash conversion
Balance sheet
47
watch · leverage and solvency
Discipline
56
watch · capital discipline
Results
50
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 4.5%.
- ▸3/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Operating cash flow is negative at ₹-2003 Cr.
- ▸Altman Z is 0.91.
- ▸ROCE is low at 7.6%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Godrej Properties Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 7 Oct - BMC, Godrej Properties and RC Group launch first phase of Bandra Bay promenade in Mumbai.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 28 Sep - Godrej Properties signs development agreement for 2.5-acre Marine Lines project, estimated revenue potential ~INR 6,000 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 23 Sep - Godrej Properties celebrates 100th handover at Godrej Nest, with 3,000 Delhi-NCR homes delivered in 12 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 19 Sep - Godrej Properties opens 24-metre road in Gurugram, improving access near Godrej Aristocrat and SPR.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 2 Sep - ICRA reaffirmed Godrej Properties’ AA+ ratings; commercial paper and bank facilities enhanced to Rs.4,000 crore and Rs.13,000 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 29 Aug - Godrej City Panvel opens four indoor padel courts and announces a new Sky Villas phase.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 26 Aug - India Ratings affirmed A1+ commercial paper and AA+ debentures for Godrej Properties.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Aug - Intimation regarding newspaper publication for dispatch of postal ballot notice.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Scheme of Arrangement 9 Jul - NCLT sanctioned amalgamation of Embellish Houses Pvt. Ltd. with Godrej Properties, appointed date 01.11.2025.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Jul - The Initimation to Stock Exchanges regarding newspaper advertisement related to 41st Annual General Meeting of the Company.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.