Sobha Developers gains after robust Q3 numbers

Sobha Developers has gained by nearly 4% to Rs 276.65 after net profit rose 10.46% to Rs 58.10 crore on 26.48% increase in total income to Rs 545.50 crore in Q3 December 2013 over Q3 December 2012.

The stock hit a high of Rs 284.80 and a low of Rs 271 so far.

So far over 6,000 shares were traded in the counter, compared with an average volume of 14,154 shares in the past one quarter.

Sobha Developers registered new sales value of Rs 502 crore in Q3 December 2013. The company reported new sales volume of 0.74 million square feet in Q3 December 2013.

The company achieved average price realisation of Rs 6,786 per square feet during the quarter.