Land bank monetisation, demand uptick key triggers for Sobha Developers

Company says growth momentum seen in FY19 will continue this financial year

Even as the realty sector is struggling to improve its volumes, Bengaluru-based developer Sobha has been able to post record sales in the March quarter. The firm achieved highest ever new sales of over a million square feet for the second consecutive quarter enabling it to reach four million square feet in FY19. 

Three quarters of the volumes were accounted for by the Bengaluru market. New launches and improving demand in key pockets helped the company achieve the sales growth. Volume growth at a time of slowing overall sales should help the company gain share. “Considering that liquidity issues have