** Shares of Australia's Cedar Woods Properties CWP.AX rise as much as 10.7% to a record high of A$8.90

** The property developer upgrades FY26 NPAT outlook to growth of ~15%, from its earlier forecast of 10%

** Records presales of more than A$763 million ($495.80 million) at end of first quarter, up 36% on pcp

** Says positive momentum in sales driven by both good volumes and price growth

** Stock's biggest intraday pct jump since late March 2020

** YTD, stock up 59.8%

($1 = 1.5389 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))