Sales volumes grow 65.3% QoQ to 2.4 lsf in Q1FY20 ORL's sales volumes grew 65.3% QoQ (de-grew 16.3% YoY) to 2.4 lakh sq ft (lsf). While Sky City project clocked robust 1.24 lsf sales volumes, 30-40% of this was driven by subvention scheme. The subvention scheme has also aided sales at its Goregaon projects. However, the recent circular from NHB advising HFCs to desist from participating in subvention schemes could impact sales momentum for ORL in the interim although the company plans to offer bank-driven subvention schemes. Overall, we expect sales volume...