For investors in Godrej Properties, the devil is in the details2 min read . Updated: 03 Feb 2023, 01:04 PM IST
- It is feared that the company’s aggressive expansion strategy will weigh on cash flows, margins, and elevated debt. In Q3FY23, its net debt increased around 90% sequentially to ₹2,586 crore
Shares of Godrej Properties Ltd slid to a new 52-week low of ₹1,129 apiece on the National Stock Exchange on Thursday, following the real estate developer's Q3FY23 earnings. The stock has remained under pressure on Friday as well, down 1.2%. Agreed, the rout in shares of Adani Group companies has been weighing on market sentiment but for investors in the Godrej Properties stock, company-specific concerns linger.
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