Realty firm Sobha Developers’ sales booking has declined 20% to Rs 482.2 crore during Q1 FY15 on account of lower volumes as well as realisations. The company’s sales bookings stood at Rs 602.8 crore in the same quarter of last fiscal.
On operational front, Bangalore-based company’s sales volume dropped to 754,000 sq ft during the April-June quarter of 2014-15 fiscal as against 920,000 sq ft in the corresponding period of 2013-14. The sales realisation also dropped to Rs 6,388 per sq ft from Rs 6,548 per sq ft during the period under review.
The company had not launched any new projects during the quarter and the new sales achieved during the quarter comprised of the projects launched in the previous quarters.
Sobha Developers 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.
