 "Sobha's Q3 results: Sales plunge 29% YoY, B'luru accounts for most sales")
Bengaluru-based real estate developer Sobha has reported a sharp 29 per cent year-on-year (Y-o-Y) drop in its sales for the third quarter of the financial year 2025 (Q3 FY25) at Rs 1,388.6 crore. However, on a quarter-on-quarter (QoQ) basis, the company’s sales grew by 17.8 per cent.
Bengaluru accounted for 72.1 per cent of the company’s total sales value. Its project, SOBHA Ayana, contributed to more than 50 per cent of its overall Bengaluru sales value in Q3 FY25.
The Indian multinational real estate developer’s new sales during the quarter spanned an area of 1.01 million square feet (msf) at an average price realisation of Rs 13,663 per square foot (sq ft).
During the first nine months of FY25 (9M FY25), the company clocked total sales of Rs 4,440.8 crore, down 13.61 per cent Y-o-Y. The company launched 4.66 msf through six projects across four Indian cities.
In 9M FY25, the average realisation improved by 31.3 per cent over the same period last year to Rs 14,226 per sq ft, aided by price increases in ongoing projects and higher realisation in the new project launches during the year.
Overall, the company’s portfolio features projects in Bengaluru, Gurgaon, GIFT City, Hyderabad, Pune, Kochi, Thrissur, Calicut, Trivandrum, Chennai, and Coimbatore.
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The company stated that the commercial space offtake is a proxy to job creation, leading to continued growth in urbanisation.
“This being the fundamental driver to residential demand in major cities, sustenance of the demand seems to be intact. However, supply is also expected to increase in the medium term,” it added.