Real estate firm Sobha has reported 12% fall in sales bookings during the second quarter of FY15 at Rs 559 crore as compared to Rs 632.3 crore in the year-ago period due to poor demand. Sales volume dropped to 8.33 lakh sq ft during the second quarter of the current fiscal from 10.03 lakh sq ft in the year-ago period. However, sales realisation improved by 6.32 per cent to Rs 6,703 per sq ft.
During the first six months of this fiscal, Sobha’s sales bookings fell to Rs Rs 1,041.2 crore from Rs 1,235.1 crore in the corresponding period of previous year. The company’s sales bookings stood at Rs. 2,343 crore during the full 2013-14 financial year but missed the target of Rs. 2,600 crore due to slowdown in demand, especially in the NCR-Gurgaon region.
Sobha Developers has presence in seven cities -- Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Mysore and Thrissur.