Shares of Sobha fell over 2 percent on April 5 even after the real estate developer reported its best-ever annual sales value of Rs 6,644 crore inthe fourth quarter of FY24.
The company launched six residential projects during the financial year, and completed sales for some of the marquee projects, including Sobha Dream Acres (Bangalore) and Sobha City Gur
gaon (NCR), GIFT City projects.
In a regulatory filing, Sobha informed that Q4FY24 has been a steady sales quarter clocking a value of Rs 1,504 crore at an average price realisation of Rs 11,230 per square foot (sq ft).
Analysts at ICICI Securities highlighted that Sobha’s sales momentum in Q4 moderated as a couple of launches were in the last two weeks of March. Going forward, it will be key to monitor how the momentum of sales continues in FY25 on this healthy base along with the realty company’s debt status.
In a regulatory filing, Sobha informed that Q4FY24 has been a steady sales quarter clocking a value of Rs 1,504 crore at an average price realisation of Rs 11,230 per square foot (sq ft).
Analysts at ICICI Securities highlighted that Sobha’s sales momentum in Q4 moderated as a couple of launches were in the last two weeks of March. Going forward, it will be key to monitor how the momentum of sales continues in FY25 on this healthy base along with the realty company’s debt status.
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