Sobha Developers surges on plan to expand its footprints in Pune

21 Aug 2014

Sobha Developers is currently trading at Rs. 497.25, up by 8.60 points or 1.76% from its previous closing of Rs. 488.65 on the BSE.

The scrip opened at Rs. 488.10 and has touched a high and low of Rs. 499.50 and Rs. 488.10 respectively. So far 3336 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 581.00 on 09-Jun-2014 and a 52 week low of Rs. 214.10 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 499.50 and Rs. 423.55 respectively. The current market cap of the company is Rs. 4791.89 crore.

The promoters holding in the company stood at 60.58% while Institutions and Non-Institutions held 35.79% and 3.63% respectively.

In a bid to expand its footprints in Pune, Sobha Developers will develop new projects and tie up with smaller developers. The company has targeted to develop over one million square feet of area primarily in residential space. 

After developing three projects in eastern side of Pune, it is coming up with projects in the western suburb’s skyline indicating the rising demand of high end luxurious homes at Kothrud in Pune. The company is coming up with the total investment of Rs 250 crore, the project will consist of three and four BHK apartments, duplex and a commercial lifestyle club.

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.

 

Related Sobha Ltd. Links:

Sobha Share Price

396.10 0.50 (0.13%) Nov 15, 10:47
1 Year Price Chart
Peers
Company Name CMP
Dilip Buildcon 393.00
NBCC (India) 36.85
Sobha 396.10
DLF 209.25
JMC Projects (India) 106.50
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Sensex vs Sobha
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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