Sobha reports Q1 operational performance update

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The announcement was made today, 4 July 2020. Shares of Sobha settled 0.16% lower at Rs 222.85 yesterday.

Sobha said the price realization remained stable in Q1 June 2020. The company achieved new sales volume of 650,400 square feet in Q1 June 2020 from 1,063,632 square feet in Q1 June 2019. Total sales value dropped to Rs 487.70 crore from Rs 777.70 crore. Sobha's share of sales value declined to Rs 393.10 crore from Rs 660.60 crore. Total average realisation was Rs 7,498 per square feet over Rs 7,312 per square feet.

The realty firm reported 55.25% fall in consolidated net profit to Rs 50.70 crore on 34.75% fall in total income to Rs 927.60 crore in Q4 March 2020 over Q4 March 2019.

Sobha is a real estate brand in India. It has made several developments in Bangalore, Kerela, Delhi – NCR, Chennai, Coimbatore, Mysore and Pune.