After deal cancellation, Q4 launches key driver for Godrej Properties

Godrej Properties had disappointed the Street with muted bookings in Q3.

From its highs on Thursday, the stock of India’s third largest listed realty player Godrej Properties (GPL) slid 15 per cent. The sharp fall came amidst a weak sales performance in the December (Q3FY22) quarter and a stake purchase in DB Realty. While the stock is down substantially, it can recoup some of the losses on Monday given the announcement on Friday evening that GPL will not proceed with the proposed deal with DB Realty.

“After prolonged discussions and taking into consideration the feedback from the stakeholders and minority investors, the Board has decided not to proceed with any further