Launch pipeline key for Godrej Properties after Q1 miss; stock falls

After a record 2017-18, sales fell 44 per cent in April-June quarter

The Godrej Properties stock is down 5 per cent since the beginning of this month, and 20 per cent since May on signs of slowing growth and whether the company can match the record sales it achieved in 2017-18.  

In the June quarter, the company reported new bookings at Rs 8.2 billion, down 44 per cent over the year-ago quarter. The decline comes after four consecutive quarters of robust sales growth in which the property sold had doubled every quarter. The company had sold over a million square feet in each of the four quarters. Its core focus markets of Mumbai,