Q3FY20 revenue declined by 23% YoY due to execution woes on redevelopment project and 79% slid in real estate revenue. EBITDA margin fell by 350bps YoY to 0.9% owing to poor execution and higher consultancy & other expenses. Order book remains strong at Rs72,000cr, however orders worth ~Rs19,000cr only were in execution stage. Three main re-development projects are currently in standstill position, court hearing was completed and the judgement is...