Godrej Properties Ltd
Godrej Properties Limited (GPL) is the real estate development arm of the Godrej Group, which was started in 1897 and is today one of India’s most successful conglomerates. Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. [1]
- Market Cap ₹ 73,258 Cr.
- Current Price ₹ 2,635
- High / Low ₹ 2,792 / 1,277
- Stock P/E 119
- Book Value ₹ 367
- Dividend Yield 0.00 %
- ROCE 6.07 %
- ROE 5.78 %
- Face Value ₹ 5.00
Pros
- Company has delivered good profit growth of 81.0% CAGR over last 5 years
- Debtor days have improved from 71.7 to 49.5 days.
Cons
- Stock is trading at 7.19 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 4.04% over last 3 years.
- Earnings include an other income of Rs.1,082 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.
Peer comparison
Sector: Realty Industry: Construction
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
369 | 427 | 664 | 517 | 374 | 999 | 556 | 1,434 | 2,085 | 570 | 1,473 | 1,155 | 1,281 | |
287 | 287 | 547 | 409 | 399 | 785 | 682 | 1,344 | 1,700 | 908 | 1,378 | 1,017 | 1,272 | |
Operating Profit | 81 | 140 | 117 | 108 | -25 | 214 | -125 | 90 | 385 | -337 | 95 | 138 | 9 |
OPM % | 22% | 33% | 18% | 21% | -7% | 21% | -22% | 6% | 18% | -59% | 6% | 12% | 1% |
95 | 63 | 103 | 202 | 222 | 222 | 494 | 460 | 520 | 657 | 858 | 945 | 1,082 | |
Interest | 69 | 60 | 119 | 158 | 152 | 157 | 192 | 252 | 266 | 221 | 222 | 233 | 315 |
Depreciation | 3 | 4 | 5 | 9 | 14 | 13 | 15 | 13 | 17 | 16 | 18 | 19 | 22 |
Profit before tax | 104 | 140 | 96 | 144 | 32 | 266 | 162 | 285 | 622 | 83 | 714 | 831 | 753 |
Tax % | 22% | 12% | -2% | 11% | 28% | 26% | 35% | 27% | 38% | 152% | 26% | 21% | |
81 | 123 | 98 | 128 | 23 | 197 | 105 | 209 | 384 | -43 | 526 | 656 | 614 | |
EPS in Rs | 4.08 | 6.16 | 4.90 | 6.42 | 1.05 | 9.08 | 4.85 | 9.13 | 15.24 | -1.55 | 18.92 | 23.58 | 22.09 |
Dividend Payout % | 29% | 25% | 41% | 31% | 209% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 16% |
3 Years: | -18% |
TTM: | -21% |
Compounded Profit Growth | |
---|---|
10 Years: | 16% |
5 Years: | 81% |
3 Years: | 19% |
TTM: | -5% |
Stock Price CAGR | |
---|---|
10 Years: | 28% |
5 Years: | 25% |
3 Years: | 25% |
1 Year: | 100% |
Return on Equity | |
---|---|
10 Years: | 5% |
5 Years: | 5% |
3 Years: | 4% |
Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 78 | 78 | 99 | 100 | 108 | 108 | 108 | 115 | 126 | 139 | 139 | 139 | 139 |
Reserves | 1,322 | 1,286 | 1,691 | 1,819 | 1,677 | 1,882 | 1,340 | 2,542 | 4,980 | 8,616 | 9,145 | 9,806 | 10,053 |
1,187 | 786 | 1,665 | 2,088 | 2,775 | 3,506 | 3,703 | 3,516 | 3,708 | 4,578 | 5,185 | 6,410 | 9,839 | |
293 | 617 | 719 | 573 | 787 | 612 | 2,067 | 1,604 | 1,090 | 1,628 | 1,632 | 3,585 | 3,868 | |
Total Liabilities | 2,880 | 2,767 | 4,175 | 4,579 | 5,348 | 6,108 | 7,218 | 7,777 | 9,904 | 14,962 | 16,102 | 19,940 | 23,899 |
11 | 12 | 41 | 39 | 109 | 104 | 116 | 101 | 117 | 163 | 176 | 209 | 208 | |
CWIP | 24 | 46 | 70 | 83 | 1 | 0 | 0 | 4 | 14 | 9 | 22 | 99 | 112 |
Investments | 105 | 170 | 316 | 558 | 718 | 767 | 1,341 | 2,466 | 3,392 | 5,280 | 5,118 | 3,087 | 5,161 |
2,739 | 2,539 | 3,748 | 3,900 | 4,520 | 5,237 | 5,760 | 5,207 | 6,381 | 9,510 | 10,786 | 16,545 | 18,419 | |
Total Assets | 2,880 | 2,767 | 4,175 | 4,579 | 5,348 | 6,108 | 7,218 | 7,777 | 9,904 | 14,962 | 16,102 | 19,940 | 23,899 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-453 | 121 | -448 | -428 | -418 | -656 | 504 | 127 | 67 | -593 | 22 | -1,894 | |
30 | -20 | -359 | -87 | 199 | 22 | -363 | -646 | -2,056 | -3,467 | -439 | 1,305 | |
728 | -491 | 1,415 | 219 | 332 | 415 | -451 | 971 | 1,978 | 4,387 | 296 | 842 | |
Net Cash Flow | 305 | -390 | 608 | -296 | 112 | -219 | -310 | 452 | -11 | 327 | -121 | 253 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 105 | 54 | 64 | 64 | 73 | 54 | 69 | 26 | 67 | 129 | 36 | 50 |
Inventory Days | 1,152 | 1,029 | 7,841 | |||||||||
Days Payable | 104 | 355 | 1,302 | |||||||||
Cash Conversion Cycle | 105 | 54 | 64 | 64 | 73 | 54 | 69 | 1,074 | 740 | 129 | 6,575 | 50 |
Working Capital Days | 1,849 | 1,451 | 1,154 | 1,833 | 3,322 | 1,557 | 1,815 | 701 | 687 | 3,689 | 1,666 | 3,155 |
ROCE % | 7% | 8% | 8% | 7% | 4% | 8% | 3% | 8% | 11% | 2% | 6% | 6% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
23 Apr - Regarding schedule of the Investor and Analyst Conference call.
- Board Meeting Intimation for The Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended March 31, 2024. 23 Apr
- Closure of Trading Window 18 Apr
- Certificate From Practicing Company Secretary Pursuant To Regulation 61(4) Read With Regulation 40(9) Of The SEBI (LODR) Regulations, 2015 18 Apr
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
9 Apr - Press Release under Regulation 30 of SEBI (LODR) Regulations, 2015.
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Feb 2024Transcript PPT
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Nov 2015Transcript PPT
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Overview[1]
Established in 1990, Godrej Properties is India’s largest developer by number of homes sold in FY23. Company has delivered ~41 million sq. ft. of real estate since FY18. It has ~215 million sq. ft. of saleable area across India and works on an asset-light business model. The company has bagged ~400 awards in the last 5 years.