Sobha Developers build up on eyeing sales target of Rs 1500 crore in FY11-12

06 Jan 2012

Sobha Developers is currently trading at Rs 208.00, up by 1.65 points or 0.80% from its previous closing of Rs 206.35 on the BSE.

The scrip opened at Rs 209.30 and has touched a high and low of Rs 210.00 and Rs. 207.15 respectively. So far 6224 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 327.00 on 08-Apr-2011 and a 52 week low of Rs 185.00 on 10-Feb-2011.

Last one week high and low of the scrip stood at Rs 211.95 and Rs 189.00 respectively. The current market cap of the company is Rs 2041.69 crore.

The promoters holding in the company stood at 60.55% while Institutions and Non-Institutions held 34.91% and 4.54% respectively.

Sobha Developers, a Bangalore-based real estate developer is eyeing to achieve new sales of Rs 1,500 crore in financial year 2011-12. The real estate developer also expects to sell over 3 million square feet of space in this financial year.

In the October-December 2011 quarter, the company has sold 818,935 square feet across the country with an average selling price of Rs 5,475 per square feet. The average selling price for half year ended September 30, 2011 was Rs 4,924 per square feet.

Of the total 818,935 square feet sold in the quarter, Bangalore had the largest share at 567,662 square feet, while the national capital region was next at 106,183 square feet.

Sobha Developers is an established player in the real estate development and contract construction in Bangalore.

Related Sobha Ltd. Links:

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