Meanwhile, the S&P BSE Sensex was up 159.25 points or 0.82% at 19,570.09.
On BSE, 11,884 shares were traded in the counter as against average daily volume of 7,827 shares in the past one quarter.
The stock hit a high of Rs 356 and a low of Rs 345 so far during the day. The stock had hit a 52-week high of Rs 472.40 on 13 February 2013. The stock had hit a 52-week low of Rs 322 on 30 August 2012.
The stock had underperformed the market over the past one month till 4 July 2013, sliding 10.9% compared with the Sensex's 0.69% fall. The scrip had also underperformed the market in past one quarter, declining 2.62% as against Sensex's 4.87% rise.
The mid-cap real estate developer has equity capital of Rs 98.06 crore. Face value per share is Rs 10.
Shares of Sobha Developers have risen 4.41% in two trading sessions from a recent low of Rs 335.30 on 3 July 2013, after the company during trading hours on Thursday, 4 July 2013, said its new sales rose 10.2% to 0.92 million square feet in Q1 June 2013 over Q1 June 2012. The stock had risen 1.43% to settle at Rs 340.10 on Thursday, 4 July 2013.
Sobha Developers said that its sales value surged 25.7% to Rs 602.80 crore in Q1 June 2013 over Q1 June 2012. The average price realization rose 14.1% to Rs 6,548 per sq. ft in Q1 June 2013 over Q1 June 2012.
During Q1 June 2013, the company had launched two projects in Bangalore viz. Sobha Landscape, a plotted development project admeasuring 0.20 million sq. ft and a commercial project at St. Mark's Road, Bangalore admeasuring total developable area of 0.35 million sq. ft (super built-up area of 0.20 million sq. ft).
Sobha Developers said the company remains positive about achieving the guidance set for FY 2014, albeit in a challenging economic environment.
Sobha Developers' consolidated net profit declined 28% to Rs 69.60 crore on 12.1% growth in net sales to Rs 585.40 crore in Q4 March 2013 over Q4 March 2012.
Sobha Developers is a real estate developer. It is primarily focused on residential and contractual projects.
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