Sobha Q2 sale bookings fall 32% to Rs 1,178.5 crore despite strong housing demand

Realty firm Sobha Ltd has posted a 32 per cent decline in its sale bookings to Rs 1,178.5 crore during July-September quarter despite strong housing demand.

In a regulatory filing on Monday, Bengaluru-based Sobha Ltd informed that its sale bookings stood at Rs 1,178.5 crore in the second quarter of this fiscal as against Rs 1,723.8 crore in the year-ago period.

"In Q2-FY25, we sold new area of 0.93 million square feet with sales value of Rs 11.79 billion at an average price realization of Rs 12,674 per square feet," the company said.

In terms of volume, the sale bookings fell to 9,29,907 square feet during July- September 2024 from 16,86,196 square feet in the year-ago period.

During the first six months of this fiscal, Sobha Ltd sold properties worth Rs 3,052.2 crore as against Rs 3,188.5 crore in the corresponding period of the preceding year.

The company sold 21,05,268 square feet in April-September period of this fiscal as against 30,80,313 square feet in the corresponding period of the preceding year.

In the entire 2023-24 fiscal year, Sobha sold properties worth Rs 6,644.1 crore.

Sobha is one of the leading real estate firms in the country. It has a significant presence in south India. It has projects in Delhi-NCR, Pune and Gujarat as well.