Sobha Developers was in the green for the past two days and yesterday, it went on to hit a new 52-week high at Rs.375. The company is in the limelight after the company, issued an update of its operations to the stock exchanges, stating that its Q2FY13 working has been "the best quarter in terms of new sales" in its history. It had given a guidance of new sales of 3.75 million sq.ft worth Rs 2,000 crore for FY13 and has stated that in the first six months it is well in position to achieve this target as it has already registered sales of 1.78 million sq.ft valued Rs 1,007 crore. The company said that during the first half of FY13, new sales had gone up by 11.2% (YoY) and 13.23% (QoQ) while value of new sales during H1 was up by 27.6% (YoY).  Thus based on this robust outlook, the stock is now seeing investors and traders taking positions.

The company had ended Q1FY13 on a better note with a 73%  (YoY) increase in net profit at Rs 45 crore on a 57% rise in net revenue at Rs.435 crore. This was aided by a 58% rise in sales booking and sales volumes rose 25%. FY12 was a meek year and hence in current fiscal the base effect will also come into play. Q2 numbers are now awaited given the optimism shown by the company. Its net debt stood at Rs 1,180.6 crore at end of Q1FY13. It had repaid loans to the tune of Rs.156 crore in Q1 and it hopes to repay another Rs.200 crore before end of current fiscal.