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F I N L AT I C S
REPORT ON GODREJ PROPERTIES

By-Pratiksha Lingayat
IIM RANCHI
 Company Overview Management SWOT Analysis Competitor Analysis Way Forward

Godrej Properties Limited is a Mumbai based

real estate company. It is a subsidiary of
Godrej Industries Ltd which is amongst India's
most trusted and diversified conglomerates
and have 122 years old legacy. The company
was established in 1990 and is currently
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operational in 12 major cities across India and

unlike other real estate companies, it has
shown a consistent increase in price trends.
The company has received more than 250
awards and recognitions in the real estate
field. The company’s main focus is on ‘Good’
and ‘Green’ Products with a vision of green
India. The company is developing 89.7 MSF of
developing projects across the country. It is
also listed on BSE and NSE. In 2010, company
became a publicly listed company and raised
USD 100 million in successful IPO. In 2016, it
has also created a fund management
subsidiary which raised USD 275 million in
the real estate focused fund raise. In the year
2016, Godrej properties became India’s
largest publicly listed real estate developer by
sales value over INR 5,000 crore of real estate
year. Also, in the same year company has
delivered 6 million square feet of real estate
in seven cities across India.
 Company Overview Management SWOT Analysis Competitor Analysis Way Forward

Sales 1,163.05 382.82 259.67 635.88

Other Income 125.12 134.65 135.44 77.96

Total Income 1,288.17 517.47 395.11 713.84

Balance Sheet
Total Expenditure 1,013.17 345.80 239.93 517.61

Income Statement
Equities & Liabilities MAR 2020 MAR 2019 MAR 2018 MAR 2017 MAR 2016
EBIT 275.00 171.67 155.18 196.23
Share Capital 126.01 114.66 108.24 108.18 108.13
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Interest 57.56 57.47 56.76 50.23

Reserves & Surplus 4,678.47 2,349.08 2,132.05 1,895.55 1,656.69
Tax 88.72 42.64 38.69 50.26
Current Liabilities 5,287.15 5,111.48 4,369.98 4,695.63 3,645.60
Net Profit 128.72 71.56 59.73 95.74
Other Liabilities 14.35 517.52 511.92 481.50 1,168.04

Enterprise Value (Cr.) 17,967.27

Total Liabilities 10,105.98 8,092.74 7,122.19 7,180.86 6,578.46

EV/Net Operating Revenue (X) 10.28

Assets

EV/EBITDA (X) 22.48

Fixed Assets 272.07 196.19 184.08 102.05 107.22

MarketCap/Net Operating Revenue (X) 8.69

Current Assets 7,644.56 5,519.92 5,584.88 6,308.76 5,853.41

Retention Ratios (%) 0.00

Other Assets 2,189.35 2,376.63 1,353.23 770.05 617.83

Price/BV (X) 3.02

Total Assets 10,105.98 8,092.74 7,122.19 7,180.86 6,578.46

Ratios
Price/Net Operating Revenue 8.69

Earnings Yield 0.02

 Company Overview Management SWOT Analysis Competitor Analysis Way Forward

MR. ADI GODREJ - CHAIRMAN EMERITUS

Adi Godrej is Chairman Emeritus of Godrej Properties and Chairman of the Godrej Group. He has done his BE and MBA
from the Massachusetts Institute of Technology (MIT). The Godrej group has become one of the most respected and
successful conglomerates for many decades in India under his leadership. Adi is also a Former President of the
Confederation of Indian Industry and the Chairman of the Board of the ISB. He is recipient of one of the India’s highest
civilian awards, the Padma Bhushan Award, from government of India.
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MR. PIROJSHA GODREJ - EXECUTIVE CHAIRMAN

Pirojsha Godrej is the renowned leader in the Godrej group and the Executive Chairman of Godrej Properties. The
company has been one of India’s fastest growing real estate developers and in the year 2016, Godrej properties became
India’s largest publicly listed real estate developer by sales value over INR 5,000 crore of real estate year under his
guidance. He is also recipient of the Green Champion Award from IGBC in 2016, Best People CEO Award by the NHRD
Network in 2014, Best CEO of the Year at the Construction Times Awards in 2015 and many more. He has done Bachelor
in economics from the Wharton Business School, an MBA from Columbia Business School, and a Master’s degree in
International Affairs from Columbia University.

MR. MOHIT MALHOTRA - MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER

Mr. Mohit Malhotra is Chief Executive Officer and the Managing Director at Godrej Properties. He has done his MBA from
IIM Calcutta and started his career with Unilever India, subsequently worked with AT Kearney. He was working in the real
estate industry since 2006 and joined Godrej Properties in 2010. He was appointed as CEO in the year 2017 and
continued to take on key leadership responsibilities.
 Company Overview Management SWOT Analysis Competitor Analysis Way Forward

Godrej Properties Strengths

Below are the Strengths in the SWOT Analysis of Godrej Properties: Godrej Properties Weaknesses
1. Risk management in land sourcing Here are the weaknesses in the Godrej Properties SWOT Analysis:
2. Out sourced support functions 1. new in the real estate secoter
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3. Superior execution 2. reach is limited to a few metro cities

4. Diversified portfolio

SWOT ANALYSIS

Godrej Properties Opportunities Godrej Properties Threats

Following are the Opportunities in Godrej Properties SWOT Analysis: The threats in the SWOT Analysis of Godrej Properties are as mentioned:

1. with RBI’s rate cut there will be boom on real estate sector 1.current economic situation may have adverse effect on construction industry
2.there are large untapped market In tier ii & iii cities 2.infrastructure safety always a risk
3.competitoers are emerging by leaps and bounds
 Company Overview Management
Below are the top 3 Godrej Properties competitors:
1.Hiranandani Real Estate
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Hiranandani real estate started in 1978, and
developed as a most premium real estate
developer in India. The company has more than
40 years of experience in the business. The
company has vision of creating a new India with
enduring and self-sufficient township. The
company has steadily focused on better
experience creation in sectors including real
estate, healthcare, education, leisure or
entertainment. It is involved in Real estate
activities with own or leased property.
SWOT Analysis Competitor Analysis
Competitors
2.K Raheja Universal
K Raheja Universal was found in 1980 and is
headed by Mr. Suresh Raheja and his sons
Ashish and Rahul Raheja. The company with its
promoters has completed over approximately
8.34 million sq ft of real estate development
projects in Mumbai across 53 landmark
projects. The company believes in developer
with brand name and trust from customer’s
side is the most imp thing in Mumbai
Metropolitan Region. The company is known for
its planning, execution, monitoring and control.
The company has its ability to develop projects
on identified strategic land with potential for
capital appreciation. K Raheja Universal has
experienced and qualified management team.
Way Forward
3.Kalpataru
Kalpataru Limited was founded in 1969 and is
known as one of India’s leading real estate
companies. The company has got several
national and global awards for design and
quality. Kalpataru Group, is one of India's
leading conglomerates with spanning across
Real Estate, Civil Infrastructure and Logistics,
Power Transmission and Distribution. The
company has 9 cities in its portfolio of real
estate. The company has sold nearly 1.5 million
sq ft of area and its 18 million sq feet of area is
under planning and development process. The
company has over 4 decades of real estate
excellence to developing and building premium
townships, office properties, residential towers,
and gated communities.
 Company Overview Management SWOT Analysis Competitor Analysis Way Forward

The company have competitive advantage in development projects and their

execution.

The company with time has developed capital efficient and high ROE development
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model.

The company has added 32 new projects in its portfolio with 73 million sq ft of
saleable area since 2018.

It has also access to group’s land bank across India.

The company has successfully delivered approximately 22 million sq ft in last 5 years.

 Company Overview Management SWOT Analysis Competitor Analysis Way Forward

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