Sobha Developers surges on buzz of plan to enter into Hyderabad

18 Apr 2013

Sobha Developers is currently trading at Rs. 365.55, up by 5.15 points or 1.43% from its previous closing of Rs. 360.40 on the BSE.

The scrip opened at Rs. 364.50 and has touched a high and low of Rs. 368.90 and Rs. 362.00 respectively. So far 2198 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 472.40 on 13-Feb-2013 and a 52 week low of Rs. 282.45 on 25-May-2012.

Last one week high and low of the scrip stood at Rs. 369.80 and Rs. 343.20 respectively. The current market cap of the company is Rs. 3598.45 crore.

The promoters holding in the company stood at 60.58% while Institutions and Non-Institutions held 36.36% and 3.06% respectively.

Sobha Developers, a real estate firm is reportedly entering into Hyderabad and has set up an office in that city. The Bangalore-based real estate player will also make a foray into three new geographies - Kochi, Kozhikode (Calicut) and Noida/Ghaziabad region in this fiscal. The entity has launched Garnet III, a new realty project in Pune, and its fifth project and has land parcels of 50 acres in Pune in Chandkhed and Sanaswadi.

Sobha 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

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