Why Godrej Properties may take time to recover
SummaryOne reason for the stock getting battered is that it had risen quite a bit making valuations pricey.
Calendar year 2022 has been tough for real estate companies, with the sentiments towards the sector getting sour as home loan rates inched up. But company-specific factors have aggravated the pain for some investors. Take the case of realty developer Godrej Properties Ltd. The stock is down almost 31% year-to-date, while the Nifty Realty index has fallen at a much slower pace of 7%.