New project sales boost growth prospects of Godrej Properties stock

Most of the firm's projects, to be launched in H2FY20 and FY21 in Mumbai, are in the luxury and premium segment

Godrej Properties had a strong run in 2019, making investors richer by about 45 per cent. The most expensive realty stock has been outperforming its peer index (BSE Realty) since listing. It has gained more than the market during bull phases such as CY17 and CY19, while cutting its losses in CY18 when it lost 6 per cent. 

The outperformance, at least on the operational front, is expected to continue.

The addition of three new projects in Mumbai and one in Bengaluru, with total saleable area of 12.7 million square feet, has boosted growth prospects. These are in the mid-income and affordable