Sobha surged 12.44% to Rs 852.85 after the company said its sales bookings rose 49.33% year-on-year to Rs 1,030.20 crore in Q2 September 2021 (Q2 FY22) on stable pickup in housing demand.
The company had sold properties worth Rs 689.90 crore in the same quarter last year.In a regulatory filing, Sobha informed that sales bookings in volume terms rose to 13,48,864 square feet in Q2 FY22 from 8,91,700 square feet in Q2 FY21.
The company said it achieved best ever total sales volume and sale value of 22,44,403 square feet and Rs 1713 crore respectively during April-September of this fiscal year.
In the entire last fiscal year 2020-21, Sobha had clocked sales bookings of Rs 3,137.20 crore.
During the quarter, Sobha has achieved best ever sales volume at sustainable price realization. This was primarily driven by good sale numbers achieved in Bengaluru, Gurugram, Pune and GIFT CITY.
"With festive season coming in and our planned new launches in the coming quarters, we are expected to sustain momentum in the second half of the financial year," Sobha said.
Sobha is a real estate player primarily focused on residential and contractual projects. Its net profit soared 63.6% to Rs 10.80 crore on 46.4% surge in net sales to Rs 512.30 crore in Q1 June 2021 over Q1 June 2020.
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