Sobha

The company's total expenses during the third quarter of FY25 surged by 77.30 per cent Y-o-Y

Technical charts suggest that stocks such as Prestige Estates, Lodha and Sobha can fall up to 32 per cent from here on, while the Nifty Realty index can crack by another 14 per cent.

Shares of Phoenix, Macrotech Developers, Sobha, Brigade, Raymond, DLF, Oberoi Realty, Prestige Estates Projects and Godrej Properties were down in the range of 4 per cent to 9 per cent

The company reported sales worth Rs 1,388.6 crore in Q3FY25

In its Q3 update, released on Tuesday after market hours, Sobha reported a 28.8 per cent decline in year-on-year (Y-o-Y) total sales to Rs 1,388.6 crore as compared to Rs 1,951.6 crore a year ago

Antique expects large-to-mid real estate players to achieve 20 to 30 per cent growth in sales booking

JM Financial on real estate stocks: Driven by an exceptional performance in financial year 2023-24 (FY24), brokerage firm JM Financial has initiated coverage of the real estate sector

The surge in Sobha share price came after the real estate developer's overall sales value rose 28% Y-o-Y to Rs 1,874 crore. Sequentially, the overall sales grew 24.6%, compared to Q4FY24

Block deals today: Reports said the Godrej family-owned Anamudi LLP was the likely seller of the 5 per cent stake

Realty firm Sobha Ltd will launch its rights issue on Friday to raise up to Rs 2,000 crore mainly to reduce debt, purchase land as well as machines and meet the construction cost of its various projects. The issue will close on July 4. On June 12, the Board approved the terms of the rights issue. The Bengaluru-based company would issue 1,21,07,981 equity shares each on partly-paid basis for an amount up to Rs 2,000 crore. The price fixed for rights issue is Rs 1,651 per share (including premium of Rs 1,641 per share). The rights entitlement ratio has been fixed at 6 rights equity shares for every 47 fully paid-up equity share of the company held by the eligible equity shareholders of the company, as on the record date. On the objects of the issue, the company has proposed to utilise Rs 905 crore for repayment or prepayment, in full or in part, of certain borrowings. The company plans to utilise Rs 212.35 crore to fund certain project related expenses for ongoing and forthcoming

Meanwhile, thus far in the calendar year 2024, the Nifty Realty index has surged 21 per cent, as compared to 2 per cent rise in the benchmark index.

As many as 274 out of the Nifty 500 stocks held gains as of Jan 19, even as the benchmark BSE Sensex was down 2 per cent for the new year. Here's what charts suggest for select early movers of 2024.

The board of directors of Sobha are scheduled to meed on Monday, January 22, 2024, to consider the proposal of fund raising by way of equity shares through rights issue.

Stocks to Watch on Friday, January 5, 2024: Grasim Industries' Board has approved fund raise via rights issue worth Rs 4,000 crore.

Stocks to watch on Tuesday, November 7, 2023: Apollo Tyres, Balrampur Chini, CRISIL, IRCTC and Power Grid Corporation among prominent companies scheduled to announce results today.

Indian real estate developer Sobha Ltd said its June quarter profit more-than-doubled as demand in the country stayed resilient, with more people booking flats and houses in big cities and towns

Sobha announced that a search by the Income Tax Department is being carried out at the registered office and other premises of the company

Bengaluru-based realty firm Sobha Ltd on Friday reported a 36 per cent growth in its sales bookings to Rs 1,424.7 crore for the quarter ended December 2022 on strong revival in demand. In a regulatory filing, Sobha Ltd informed that its sales bookings stood at Rs 1,047.5 crore in the year-ago period. Sobha Ltd achieved highest-ever quarterly sales bookings in the December quarter in terms of both volume and value. The average price realisation improved to Rs 9,650 per square feet, up 21.9 per cent from the corresponding quarter of last year. Achieved highest-ever quarterly sales volume of 1.47 million square feet, with an increase of 11.6 per cent compared to the previous year. During April-December period of this fiscal, Sobha Ltd's sales bookings rose to Rs 3,734.4 crore from Rs 2,760.6 crore a year ago. In the first nine months of this fiscal, the company achieved total sale of 4.17 million square feet, an increase of 16.9 per cent over the preceding year. The average price .

The company has achieved the highest ever quarterly sales volume of 1.36 million sft in April-June quarter, up by 51.7 per cent year-on-year.

Sharma will hold the position till March 31, 2022