Sobha Ltd. on Monday reported the sale of a new area of 93 lakh square feet at a sales value of Rs 1,179 crore with an average price realisation of Rs 12,674 per square foot in the quarter ended September 2024.
Bangalore recorded Rs 609 crore in sales in the second quarter of fiscal 2025, indicating a 51.8% increase in overall sales. The Kerala region posted a sales value of Rs 338 crore, denoting a 36.2% increase in new sales area compared to the previous quarter. It recorded its best ever quarterly sales and also its best half-yearly performance.
Tamil Nadu saw its sales value more than double from the previous quarter, driven by a new project launched in fiscal 2025.
The total sales value for the April-September period reached Rs 3,052 crore, compared to Rs 3,189 crore during the same period in fiscal 2024.
New Launches
The company launched Sobha Infinia with a total saleable area of 490,254 square feet in Bangalore.
This project is spread over 2.9 acres, comprising 196 units of three and four BHK configurations with 22,000 square feet of clubhouse.
Sobha's Q1 Performance
During the first quarter, the Bangalore-based real estate company's net profit fell to Rs 6 crore, 50% lower than the Rs 12 crore it reported over the same period last year.
The company's profit missed analysts estimates of Rs 33 crore for the quarter.
The real estate developer's revenue was down 29.5% to Rs 640 crore, as against the Rs 927 crore consensus estimate of analysts tracked by Bloomberg.
Shares of Sobha closed 2.74% lower at Rs 1,741.70 apiece, compared to a 0.87% fall in the benchmark NSE Nifty.
The stock has risen 150.78% in the last 12 months and 81.54% year-to-date. The relative strength index was 39.37.
Out of 16 analysts tracking the company, nine maintain a 'buy' rating, three recommend a 'hold' and four suggest a'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 19.2%.
Also Read: Sobha Plans Rs 2,000 Crore Rights Issue
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