Sobha achieved its greatest ever worth realization of Rs 8,014 per sq. toes.
Shares of the Bengaluru-based actual property developer Sobha Ltd. rallied as a lot as 8.4 per cent to hit an intraday excessive of Rs 466.05 after the corporate posted its greatest quarterly efficiency on all of the operational parameters within the historical past of the corporate. Sobha achieved greatest ever complete gross sales quantity of 1,337,707 sq. toes of tremendous built-up space valued at Rs 1,072 crore. The firm additionally achieved its greatest ever worth realization of Rs 8,014 per sq. toes within the final eight quarters on the again of upper demand throughout all product segments, Sobha Ltd mentioned in a press launch.
“Real estate sector revival looks to be a long-term structural story though some headwinds remain. Low cost availability of home loans with income tax benefits is pushing demand for homes including the larger homes. However, uncertainties of second COVID wave and its impact is yet to be assessed. Similarly increase in input cost also needs to be monitored. Sobha, due to its unique self-reliant business model, will be able to face any such future challenges,” Sobha mentioned in a press release.
“Sobha’s foray into multiple regions is yielding results with market share gains across all the operating cities,” Sobha added.
For the monetary yr Sobha achieved complete gross sales quantity of 4,013,381 sq. toes valued at Rs 3,137 crore. Total gross sales worth achieved throughout FY 20-21 is the best ever within the historical past of the corporate, Sobha mentioned.
During the quarter, Sobha launched new luxurious residential undertaking, ‘SOBHA Windsor’ in Whitefield, Bengaluru with tremendous built-up space of 1.35 million sq. toes. Sobha additionally launched a luxurious residential undertaking ‘SOBHA Metropolis’ in Thrissur with tremendous built-up space of 1.17 million sq. toes, Sobha added.
As of 1:22 pm, Sobha shares traded 7.91 per cent increased at Rs 464.40, outperforming the Sensex which was up 0.1 per cent.
