Sobha Q3 gross sales bookings up 37% to ₹1,952 cr on sturdy housing demand

Realty agency Sobha Ltd reported a 37 per cent enhance in gross sales bookings at ₹1,951.6 crore within the third quarter of this monetary 12 months, primarily on the again of sturdy housing demand in Bengaluru.

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Its gross sales bookings stood at ₹1,424.7 crore within the year-ago interval.

“The Q3 (third quarter) of this monetary 12 months has been the all-time gross sales quarter for Sobha,” the corporate stated in a regulatory submitting late on Thursday.

The common worth realization improved to ₹11,732 per sq. foot in the course of the third quarter of this fiscal 12 months, from ₹9,653 per sq. foot within the year-ago interval.

Gross sales bookings in quantity phrases additionally elevated to 16.63 lakh sq. foot , from 14.76 lakh sq. foot in the course of the interval below evaluation.

“Bengaluru has achieved its highest ever quarterly gross sales of 1.25 million sq. toes with a price of ₹14.99 billion, led by the profitable launch of the Sobha Neopolis undertaking to start with of the quarter,” the corporate stated.

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Sobha highlighted that the Delhi-NCR area continued with its sturdy momentum finishing the sale of Sobha Metropolis in Gurugram.

“We launched two new tasks within the third quarter with a complete saleable space of three.84 million sq. toes. Money flows for the quarter remained sturdy and has resulted in additional web debt discount,” Sobha stated.