Should be easily possible. The trouble is if you get it slightly wrong the revs die, the game has way too much electronic assistance so even with everything off as you come out of a bend it stops you car accelerating which costs time, and I can never quite bounce through the chicane as well as I'd like.
But a 39 should be doable. I'm wifeless tomorrow so I'll have a punt then. Roll on the drift challenges, my current record is 68m round three laps of the first drift course (Jap bottom right)