Hi Sriram, Thanks for the control. When I was testing the control with the below fomula with look up field, it does not work. Will it work for any data type fields?
=(GETFIELDVALUE('bookingstatus') == 'f16d80d1-fd07-4237-8b69-187a11eb75f9') ? 'green': 'red'

Please let me know how i can do it for the look up field