Sobha Developers soars on achieving sales of 9,20,679 sq ft in Q1FY14

04 Jul 2013 Evaluate

Sobha Developers is currently trading at Rs. 342.20, up by 6.90 points or 2.06% from its previous closing of Rs. 335.30 on the BSE.

The scrip opened at Rs. 338.00 and has touched a high and low of Rs. 345.00 and Rs. 332.30 respectively. So far 5306 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 472.40 on 13-Feb-2013 and a 52 week low of Rs. 322.00 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs. 369.40 and Rs. 331.70 respectively. The current market cap of the company is Rs. 3352.80 crore.

The promoters holding in the company stood at 60.58%, while Institutions and Non-Institutions held 36.36% and 3.06% respectively.

Sobha Developers, a real estate firm, has achieved sales of 9,20,679 square feet (sq ft) valued at Rs 602.80 crore in Q1 FY14 with an average realization of Rs 6,548 per sq ft. The value of new sales has increased by 25.7% as compared to Rs 479.40 crore in Q1FY13, while the average sales realization has gone up by 14.10% over Rs 5,737 per sq ft in Q1FY13.

The recent launch of Sobha Indraprastha, a mixed development project having a total super built up area of 1.51 million square feet in Rajajinagar, Bangalore, has been very successful, allaying concerns of a slowdown in the Bangalore real estate market.

In the past 3-4 years, the company has strategically diversified its operations into new cities such as Chennai, NCR etc. The sales performance of the Company in new markets has shown a steady growth.

Sobha has presence in seven cities -- Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Mysore and Thrissur. It has completed 83 projects aggregating to 20.78 million sq ft of saleable area and is presently developing 43 projects with 17.4 million sq ft of saleable area.

 

Sobha Share Price

1601.55 13.75 (0.87%)
01-Nov-2024 18:59 View Price Chart
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