Sobha reports sale of 8 lakh sft for Rs.478.30 crs in Dec quarter

From ET Realty

NEW DELHI: Real estate firm Sobha today said it has sold more than 8 lakh square feet space for Rs 478.30 crore in the December quarter, helped by a robust performance mainly in the Bengaluru market.

The company had set a guidance of new sales area at 40 lakh square feet, valued at Rs 2,600 crore for the current fiscal.

At the close of three quarters in the current fiscal, the company has registered new sales area of 25 lakh square feet for Rs 1,477 crore.

“The company achieved new sales of 8.06 lakh square feet valued at Rs 4,783 million (Rs 478.30 crore) with an average realisation of Rs 5,932 per square feet,” Sobha Developers said in a regulatory filing.

The new sales volume rose by 22 per cent, while the value increased by 12 per cent during the quarter compared to the corresponding three-month period of 2014-15, it added.

However, it deferred the launch of its group housing project in NCR-Gurgaon due to unforseen approval delays in the third quarter. As a result, there were no project launches during the period.

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