Shares of Godrej Properties plunged 2.01% to ₹1,595.80 after the Ministry of Environment, Forest and Climate Change sent a revocation letter on September 30, 2026—an unexpected hit that rattled the stock.
The Ministry cited the project’s proximity to Sukhna Wildlife Sanctuary, insisting a 10‑km buffer required National Board for Wildlife clearance. Godrej, however, points out the site sits 6.6 km from the sanctuary, comfortably outside the 2.75‑km ESZ established in 2017—no such clearance needed.
In response, Godrej filed an appeal with the National Green Tribunal, confident that the revocation is “unsustainable in law.” The company claims the project was completed a decade ago and all approvals were in place, arguing the revocation comes too late.
Real‑estate stocks have historically reacted sharply to environmental compliance questions; a similar revocation earlier this year saw a 3‑5% dip before a court ruling eventually steadied the shares. Investors are watching closely to gauge whether Godrej’s appeal will reverse the blow.
If the Tribunal sides with Godrej, the stock could rebound, but the upcoming hearing in early 2027 will be the real test. Until then, traders might keep a tight stop‑loss on the current level.