Sobha slides after sales value tumbles 32% YoY in Q2 FY25

Sobha declined 2.78% to Rs 1,690.80 after the company said that its total sales declined 31.63% to Rs 1,178.5 crore in Q2 FY25 from Rs 1,723.8 crore posted in Q2 FY24.

However, on a sequential basis, total sales fell 37.1% from Rs 1,873.7 crore recorded in Q1 FY25.

Average price realization jumped 23.98% YoY to Rs 12,674 per square feet in Q2 FY25. The realtors share in sales value stood at Rs 9,82.8 crore in Q2 FY25, down 22.95% YoY and 27.61% QoQ.

In Q2 FY25, new sales area stood at 9.29 million square feet (sft), registering de-growth of 20.94% over Q2 FY25 and 44.9% over Q1 FY25.

During Q2 FY24, the company launched SOBHA Infinia with total saleable area of 490,254 square feet, in Bangalore. This luxury project is spread over 2.9 acres comprising 196 units of 3 & 4 BHK, with a 22,000 square feet clubhouse.

Sobha is primarily focused on residential and contractual projects. Its residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes.

The companys consolidated net profit tumbled 49.7% to Rs 6.06 crore despite of 29.5% decrease in revenue from operations to Rs 640.40 crore in Q1 FY25 over Q1 FY24.

Powered by Capital Market - Live News