The Bengaluru-based real estate firm clocked 49 per cent growth in bookings at Rs 1,030.2 crore during the second quarter on better housing demand. Sobha had sold properties worth Rs 689.9 crore in the year-ago period.
Following the update, shares of Sobha zoomed over 13 per cent to Rs 859 before paring some of the gains to trade at Rs 848 as of 10:10 hours (IST). The BSE Sensex was trading positive at 59,697.67at the same time.
In a regulatory filing, Sobha said sales bookings in volume terms rose to 13,48,864 square feet in the second quarter of this financial year from 8,91,700 square feet in the same quarter of last financial year.
During April-September, Sobha’s sales bookings rose to Rs 1,713.1 crore from Rs 1,177.6 crore in the corresponding period of the previous year.
The stock has delivered as much as 230 per cent return in the last one year and more than doubled in the 2021 so far.
In the whole of last fiscal year 2020-21, Sobha had clocked sales bookings of Rs 3,137.2 crore. During the second quarter of this year, Sobha achieved best-ever sales volume at sustainable price realisation.
