Godrej Properties Ltd

About [ edit ]

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. #

Key Points [ edit ]
  • Market Cap 34,643 Cr.
  • Current Price 1,246
  • High / Low 1,573 / 575
  • Stock P/E
  • Book Value 299
  • Dividend Yield 0.00 %
  • ROCE 0.93 %
  • ROE -2.89 %
  • Face Value 5.00

Pros

Cons

  • Stock is trading at 4.16 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -6.00%
  • The company has delivered a poor sales growth of -18.46% over past five years.
  • Company has a low return on equity of 2.01% for last 3 years.
  • Earnings include an other income of Rs.568.17 Cr.
  • Debtor days have increased from 66.38 to 113.73 days.

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
997 393 340 1,053 636 260 383 1,163 72 90 170 433
941 419 379 889 519 261 367 1,035 156 174 230 655
Operating Profit 55 -25 -39 164 117 -1 16 128 -84 -84 -59 -222
OPM % 6% -6% -11% 16% 18% -0% 4% 11% -116% -94% -35% -51%
Other Income 70 94 133 150 78 135 135 125 123 161 141 143
Interest 59 62 54 65 50 57 57 56 50 49 45 41
Depreciation 3 3 4 4 5 5 5 6 4 5 5 5
Profit before tax 63 4 36 246 140 73 88 192 -15 23 31 -125
Tax % 46% -478% -16% 36% 36% 52% 47% 47% -31% 69% 54% -53%
Net Profit 34 21 42 157 90 32 47 102 -19 7 14 -192
EPS in Rs 1.50 0.90 1.82 6.83 3.57 1.25 1.85 4.06 -0.76 0.28 0.57 -6.89

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
243 452 770 1,037 1,179 1,843 2,123 1,583 1,604 2,817 2,441 765
225 346 612 751 897 1,586 1,986 1,330 1,819 2,639 2,181 1,214
Operating Profit 18 105 158 286 283 257 137 253 -216 178 260 -449
OPM % 7% 23% 21% 28% 24% 14% 6% 16% -13% 6% 11% -59%
Other Income 148 107 50 10 75 83 146 150 499 419 473 568
Interest 1 4 5 3 4 5 41 104 150 234 222 185
Depreciation 3 4 4 4 6 10 14 14 16 14 21 20
Profit before tax 162 204 199 289 347 326 228 284 117 348 491 -86
Tax % 24% 30% 35% 32% 32% 28% 30% 27% 26% 27% 45% -121%
Net Profit 123 131 98 138 159 191 159 207 87 253 267 -189
EPS in Rs 6.89 7.34 4.92 6.95 8.00 9.58 7.33 9.56 4.01 11.04 10.60 -6.82
Dividend Payout % 23% 24% 24% 23% 25% 21% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years:5%
5 Years:-18%
3 Years:-22%
TTM:-69%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-187%
Stock Price CAGR
10 Years:14%
5 Years:31%
3 Years:12%
1 Year:102%
Return on Equity
10 Years:5%
5 Years:3%
3 Years:2%
Last Year:-3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
70 70 78 78 99 100 108 108 108 115 126 139
Reserves 747 842 1,365 1,351 1,694 1,747 1,687 1,896 1,102 2,354 4,678 8,181
Borrowings 710 945 2,087 1,678 2,574 3,486 3,123 3,980 3,703 3,516 3,715 4,542
202 361 1,179 1,572 1,779 2,030 1,661 1,197 3,358 2,107 1,586 3,386
Total Liabilities 1,729 2,218 4,709 4,679 6,147 7,363 6,578 7,181 8,271 8,092 10,106 16,248
28 46 46 51 64 117 107 102 113 97 113 175
CWIP 0 1 19 36 62 73 1 0 71 100 163 229
Investments 208 -0 -0 -0 -0 -0 664 760 1,454 2,637 3,571 5,243
1,493 2,170 4,644 4,593 6,021 7,173 5,807 6,319 6,633 5,259 6,259 10,601
Total Assets 1,729 2,218 4,709 4,679 6,147 7,363 6,578 7,181 8,271 8,092 10,106 16,248

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-342 -445 -1,226 121 -689 -941 490 -566 1,155 478 -230 -671
13 81 28 -15 -185 -96 191 14 -973 -971 -1,721 -3,322
398 198 1,564 -442 1,566 852 -554 335 -493 970 1,972 4,259
Net Cash Flow 69 -166 366 -336 692 -184 126 -217 -311 476 22 266

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 2% 7% 6% 9% 8% 5% 5% 7% 1% 10% 9% 1%
Debtor Days 270 33 118 37 50 34 30 53 36 21 65 114
Inventory Turnover -0.41 -0.33 -0.92 -0.21 -0.19 -0.25 -0.03 -0.01 0.06 0.55 0.03 0.14

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
70.68 70.83 70.83 70.83 64.45 64.45 64.45 64.45 64.44 64.44 64.44 58.44
14.53 14.44 13.89 13.79 20.30 20.23 19.12 19.25 20.05 19.81 20.21 27.89
1.32 1.32 1.26 1.64 2.80 3.79 4.79 4.97 4.72 5.23 5.56 5.22
13.47 13.41 14.02 13.74 12.45 11.53 11.64 11.33 10.79 10.52 9.79 8.45

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