Analysts' Revenue Estimates For Godrej Properties Limited (NSE:GODREJPROP) Are Surging Higher

Shareholders in Godrej Properties Limited (NSE:GODREJPROP) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.

Following the upgrade, the consensus from 17 analysts covering Godrej Properties is for revenues of ₹28b in 2024, implying a small 3.4% decline in sales compared to the last 12 months. Per-share earnings are expected to soar 25% to ₹29.36. Prior to this update, the analysts had been forecasting revenues of ₹25b and earnings per share (EPS) of ₹28.79 in 2024. There's clearly been a surge in bullishness around the company's sales pipeline, even if there's no real change in earnings per share forecasts.

View our latest analysis for Godrej Properties

It may not be a surprise to see that the analysts have reconfirmed their price target of ₹1,597, implying that the uplift in sales is not expected to greatly contribute to Godrej Properties's valuation in the near term.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. One thing that stands out from these estimates is that revenues are expected to keep falling until the end of 2024, roughly in line with the historical decline of 4.8% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 18% per year. So it's pretty clear that, while it does have declining revenues, the analysts also expect Godrej Properties to suffer worse than the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with analysts reconfirming that earnings per share are expected to continue performing in line with their prior expectations. Fortunately, they also upgraded their revenue estimates, and are forecasting revenues to grow slower than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Godrej Properties.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple Godrej Properties analysts - going out to 2026, and you can see them free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.