Sobha builds up high

Sobha Ltd is among the top three gainers on the BSE since opening bell. The stock price rose over 11% to Rs.564 and reporting over 7 times surge in volumes.

The company announced that it has been pretty well for Q4FY18 and FY18, touting it to be its best ever in value terms, with growth across regions and product categories.

It has registered new sales volume of 3.63 million square feet, total valued at Rs.2861 crore at an average price realisation of Rs. 7,892 per square feet at the close of financial year 2017-18.

Sobha’s share of sales value at Rs. 2422 crore, at an average price realization of Rs.6,680 per square feet. The annual sales volume and values are up by 21% and 42% respectively.

For Q4FY18, Sobha achieved new sales volume of 1.02 million square feet, total valued at Rs. 812 crore at an average price realisation of Rs.7,993 per square feet. Its share of sales value at Rs.656 crore, at an average price realization of Rs.6,457 per square feet.

Sales volume and values are up by 40% and 31% respectively as compared to corresponding quarter of last year and are up by 9% and 7.5% as compared to preceding quarter.

Bangalore has registered highest ever sales performance both in volume and value terms for the financial year 2017-18.