CMP: 641

Godrej Properties, Ltd. is a real estate development company.

Godrej Properties is a decent bet in realty space trading at a P/E of 43. It runs at a debt of 1119 Crores with 435 Crores cash in hand. Revenues have risen from 337 Crores to 369 Crores in the last year. Profits have dropped from 106 Crores to 81 Crores in the last year on lower margins. Profit margins have dipped from 31% to 22% in the last year. Profit margins are now back above 30% in the last 3 quarters with growth in revenues as well. Buy and book profits at Nifty peak.