Godrej Properties Share Price: Profit bada, Revenue Gira! Kya Hua Stock Ka?

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AuthorRiya Kapoor|Published at:
Godrej Properties Share Price: Profit bada, Revenue Gira! Kya Hua Stock Ka?
Overview

Arre bhaiyo, Godrej Properties ne Q3 FY26 mein apna net profit **23%** badha kar **₹193.87 crore** kar liya hai. Lekin jab revenue ki baat aati hai, toh woh **17%** gir gaya, matlab **₹1,033.84 crore** ho gaya. Stock pehle toh bhaga, phir thoda sambhal gaya.

Achanak Profit Kaise Badha?

Godrej Properties ke shares Friday ko kaafi upar gaye, lagbhag 2% badh kar ₹1,725.80 tak pohanch gaye. Ye sab isliye hua kyunki company ne Q3 FY26 mein apna consolidated net profit 23% year-on-year badha kar ₹193.87 crore report kiya. Aur bookings bhi kamaal ki rahi, ₹8,421 crore ki, aur paisa collect bhi 40% zyada hua, matlab ₹4,282 crore. Ye sab dekh kar investors khush ho gaye aur trading volume bhi 1.2 times zyada tha.

Par ek side pe achhi khabar thi toh doosri side pe thoda negative bhi tha. Company ki total income 17% kam hokar ₹1,033.84 crore ho gayi. Is wajah se stock ka rally thoda slow ho gaya aur woh bas 0.7% upar trade kar raha tha, jabki Nifty 50 flat tha.

Asli Game Kahan Hai? (Analytical Deep Dive)

Revenue Mein Gadbad Aur ROCE Ka Issue

Jab net profit toh badh gaya, par revenue ₹1,239.97 crore se ₹1,033.84 crore ho gaya, toh sawal uthta hai ki ye hua kaise. Kuch reports toh revenue sirf ₹498.4 crore bata rahi hain, aur EBITDA bhi loss mein tha lagbhag ₹182.7 crore ka. Lagta hai cost cutting ya koi other income ne profit badhane mein madad ki hai.

ROE toh 8.46% hai, jo theek hai, par ROCE toh ekdum gir gaya hai, negative -2.85% ho gaya hai! Ye ek bahut badi chinta ki baat hai, kyunki iska matlab hai ki company apna paisa sahi se use nahi kar paa rahi aur value create karne ke bajaye destroy kar rahi hai.

Valuation Aur Competition Ka Scene

Abhi Godrej Properties ka P/E ratio around 33-34x chal raha hai. Agar competitors ko dekhein toh Oberoi Realty ka 24.5x, Lodha Developers ka 30.8x hai. DLF ka 37x, Prestige Estates ka 68-75x, aur Sobha ka toh 112x hai. Godrej Properties ka market cap ₹51,205.08 crore hai, jo in sabke beech mein aata hai. Lekin negative ROCE ko dhyan mein rakhte hue, ye valuation thoda high lag sakta hai.

Market Ka Mood Aur Sector Ka Outlook

Real estate sector abhi control mein grow kar raha hai, especially premium segments mein demand achhi hai. Analysts ko ummeed hai ki 2026 mein bhi sector grow karega, aur office leasing bhi badhegi. Residential prices bhi stable rahengi. Bhale hi India ke top 9 cities mein housing sales Q3 FY26 mein 16% kam hui ho, par Godrej Properties jaise listed developers apne brand ke dum par fayda utha sakte hain.

Aage Kya Ho Sakta Hai? (Future Outlook)

Analysts abhi bhi positive hain, 22 mein se 22 analysts 'Buy' rating de rahe hain aur average target price ₹2,547.82 de rahe hain. Lekin, Antique Stock Broking ne apna target price ₹2,723 se kam karke ₹2,049 kar diya hai aur multiples bhi adjust kiye hain, jo future growth ke slow hone ka ishara de raha hai. Management toh confident hai ki FY26 unka sabse achha saal hoga, par profit mein achhe number ke bawajood, revenue mein kami aur negative ROCE jaise points investors zaroor dekh rahe hain.

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