CLSA has maintained its 'outperform' rating on Godrej Properties Ltd., raising its price target to Rs 2,850 from Rs 2,770. Godrej Properties. (Photo source: Company website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

CLSA has maintained its 'outperform' rating on Godrej Properties Ltd., raising its price target to Rs 2,850 from Rs 2,770, citing closing on a strong quarter and strong growth with improving cash flows and margin.

The brokerage believes that, the low profitability overhang is getting addressed with improving cash flows and thus margin outlook.

CLSA noted, GPL's stock trades at a EV/ cash Ebitda of 8.4 times, compared to 12-18 times for Oberoi and Lodha, which the brokerage believes is unwarranted.

The brokerage noted that the stock trades at a discount

See Full Page