“The company achieved new sales volumes of 861,084 square feet total valued at Rs 675 crore with an average realisation of Rs 7,840 per square feet in second quarter. Sales volume is marginally higher and total sales value is up by 22.5% as compared to Q2FY17,” Sobha said in an exchange filing.
Despite a challenging macro environment, the company is confident of maintaining sales momentum in forth coming quarters, it added.
At 12:06 pm, the stock was up 8% at Rs 424 on the BSE, as compared to 0.11% rise in the S&P BSE Sensex. A combined 471,595 shares changed hands on the counter on the BSE and NSE so far.