Shares of real estate developer Sobha Ltd. are in focus on Tuesday, July 8, after the company, in its operational update, said its quarterly sales value in the April to June period crossed the ₹2,000 crore milestone for the first time ever.The company said it achieved its highest-ever quarterly sales value, clocking in ₹2,078.8 crore. Sobha’s share in the sales value stood at 1,717 crore.
This was led by the launch of SOBHA Aurum, the company’s first project in Greater Noida, which witnessed strong demand in the week of its launch.
Sobha’s total sales for the June quarter were supported by 1.44 million square feet of new sales across the company’s operational markets at an average realisation of ₹14,395 per square feet, which, despite being lower than the same quarter last year, is higher than the March quarter realisation of ₹11,781.
In the first quarter, Sobha said it completed 1.07 million square feet of saleable area, delivering 594 homes across its projects in Bengaluru, Gurugram, Chennai and other cities.The company said Bengaluru maintained a stable contribution of ₹602.4 crore, supported by the absorption across SOBHA Town Park, SOBHA Ayana and SOBHA Neopolis. It said the Gurugram market contribution improved further to ₹352.4 crore, sustaining growth momentum for the fourth straight quarter, led by SOBHA Aranya and SOBHA Altus.
This was led by the launch of SOBHA Aurum, the company’s first project in Greater Noida, which witnessed strong demand in the week of its launch.
Sobha’s total sales for the June quarter were supported by 1.44 million square feet of new sales across the company’s operational markets at an average realisation of ₹14,395 per square feet, which, despite being lower than the same quarter last year, is higher than the March quarter realisation of ₹11,781.
In the first quarter, Sobha said it completed 1.07 million square feet of saleable area, delivering 594 homes across its projects in Bengaluru, Gurugram, Chennai and other cities.The company said Bengaluru maintained a stable contribution of ₹602.4 crore, supported by the absorption across SOBHA Town Park, SOBHA Ayana and SOBHA Neopolis. It said the Gurugram market contribution improved further to ₹352.4 crore, sustaining growth momentum for the fourth straight quarter, led by SOBHA Aranya and SOBHA Altus.
Kerala’s market added ₹209.7 crore, supported by the launch of four towers of Marina One, Kochi, while Tamil Nadu contributed ₹58.7 crore to the sales during the quarter, the company said. Hyderabad and Pune remained muted during the June quarter due to limited inventory, it added.
Shares of Sobha Ltd ended the previous session flat at ₹1,512 apiece. The stock has declined 8.8% in the past month.
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