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Sobha Developers surges despite reporting 12% fall in sales bookings in Q2FY15

28 Oct 2014

Sobha Developers is currently trading at Rs. 409.00, up by 5.55 points or 1.38% from its previous closing of Rs. 403.45 on the BSE.

The scrip opened at Rs. 405.00 and has touched a high and low of Rs. 417.20 and Rs. 405.00 respectively. So far 9432 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. 260.20 on 30-Jan-2014.

Last one week high and low of the scrip stood at Rs. 437.00 and Rs. 399.00 respectively. The current market cap of the company is Rs. 4010.81 crore.

The promoters holding in the company stood at 60.58% while Institutions and Non-Institutions held 34.88% and 4.54% respectively.

Real estate firm Sobha Developers 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.


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