Sobha Limited clocks 49% growth in Q2 sales bookings on better housing demand

The company has successfully sold properties worth Rs 689.9 crore across various regions in India.

Leading real estate firm Sobha Limited on Monday said it has recorded 49 per cent growth in sales booking worth Rs 1,030.2 during the second quarter on better housing demand.

The company has successfully sold properties worth Rs 689.9 crore across various regions in India.

In its regulatory report, the sales rose to 13, 48,864 square feet in Q2 of this fiscal year from 8, 91,700 square feet in value during the same quarter of the last financial year.

The company recorded Rs 1,713.1 crore in sales bookings during April-September in this financial year which was 1,177.6 crore in the same period of the last year.

Sobha Limited earned revenue of Rs 3,137.2 crore in sales bookings in its last fiscal year.

“With the 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 in the filing.

In a statement, the company said that it had achieved record sales volume at sustainable price realization in the Q2 of FY22.

“This was primarily driven by good sales numbers achieved in Bengaluru, Gurugram, Pune and GIFT CITY. The Kerala region has shown improved sales performance as compared to Q1 FY’22. It could have done better but for the prolonged impact of Covid second wave,” the company said.

Bengaluru-based Sobha Limited is a leading real estate group developing residential and commercial projects across the country.

Published by– PTI