Sobha Developers rises as its Q1 sales bookings up by 26% to Rs 602.8 crore

22 Jul 2013

Sobha Developers is currently trading at Rs. 323.15, up by 2.30 points or 0.72% from its previous closing of Rs. 320.85 on the BSE.

The scrip opened at Rs. 325.00 and has touched a high and low of Rs. 325.00 and Rs. 320.50 respectively. So far 1399 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. 320.00 on 19-Jul-2013.

Last one week high and low of the scrip stood at Rs. 356.10 and Rs. 325.00 respectively. The current market cap of the company is Rs. 3145.89 crore.

The promoters holding in the company stood at 60.58% while Institutions and Non-Institutions held 36.30% and 3.12% respectively.

Sobha Developers’ sales bookings rose by 26% and stood at Rs 602.8 crore in the April-June quarter of this fiscal as compared to properties sold worth Rs 479.4 crore in the same quarter of last fiscal. This rise in sales was possible as the company sold more area at a higher price despite overall slowdown in housing demand.

The company sold 10% more area in volume-terms, in the first quarter of 2013-14 fiscal which stood at 9.2 lakh square feet against 8.35 lakh square feet in the year-ago period. The average price realization was higher by 14% at Rs 6,548 per square feet against Rs 5,737 per square feet during the period under review.

During the full 2012-13 fiscal, the company sold 37.55 lakh square feet for Rs 2,215 crore. The company’s launch of a mixed development project in Bangalore was successful. It has projects in Pune, Coimbatore and Mysore.

Related Sobha Ltd. Links:

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