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Below are Quote on Real-estate stock are back in action – We have a buy rating on Godrej Property With a target of 1600 by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd 

Real-estate stocks are back in action after a long consolidation, real-estate market got hit by the covid in March 2020 and after that the sector has shown a good recovery in the last 6 months.

We have a buy call on Godrej property with target price of ₹1600.

Godrej property is amongst India’s largest developers by residential sales. As of 31st March 2021, the company has a total salable area of 187 msf in total 85 different projects across India.  Company has done pre-sales of 4.17 msf in Q4FY21, up by 16%, and booking values of ₹2632 crores, up by 10%. Company received a very good response for the newly launched property. Godrej Property has a robust pipeline of 12.3 msf for upcoming years and is expecting further new launches in Mumbai upon relaxation in lockdown. We are expecting a strong recovery in the residential market in the 2nd half of 2022. The company has a strong brand and we believe that the company would benefit from the trend of organized players gaining share.

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