Sobha Ltd

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Realty firm Sobha Ltd has reported an 11 per cent increase in sales bookings to a record Rs 2,078.8 crore in the first quarter of this fiscal year as housing demand continues to be strong. Its sales bookings or pre-sales stood at Rs 1,873.7 crore in the year-ago period. The Bengaluru-based company sold 14.44 lakh sq ft area in April-June period of this fiscal year as against 11.75 lakh sq ft, according to a regulatory filing on Monday. During the June quarter, Sobha completed 1.07 million sq ft of saleable area and delivered 594 homes across projects. Sobha said the company has achieved its "highest-ever quarterly real estate sales value of Rs 20.79 billion, crossing the Rs 2,000 crore milestone for the first time." The company attributed various factors for robust demand, including urban migration, record commercial space absorption, stronger consumer and investor confidence, declining interest rates, and growing home ownership aspirations. Sobha launched two housing projects dur

Real estate company Sobha Ltd will invest around Rs 800 crore to develop a luxury housing project in Greater Noida as part of its plan to expand business in the Delhi-NCR property market. The Bengaluru-based company has got all regulatory approvals to launch its project 'SOBHA Aurum' in Greater Noida, comprising 420 apartments. The project is spread across 3.46 acres with development potential of 9.3 lakh square feet, the company said in a statement on Thursday. Sobha Ltd did not mention the project cost. However, sources said the total investment will be around Rs 800 crore. The realty company has launched this project at around Rs 14,000 per square feet. The apartments are being sold in a price range of Rs 1-3.5 crore. Sobha Ltd had bought this land parcel through an auction process for around Rs 160 crore. The company already has a presence in the Delhi-NCR market. It has developed many projects in Gurugram, including 'Sobha International City' on Dwarka Expressway. This is t

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The company's total expenses during the third quarter of FY25 surged by 77.30 per cent Y-o-Y

Shares of Sobha hit a 52-week low of Rs 1,148.30, down 6% in intra-day trade, falling below its previous low of Rs 1,176.01 touched on March 18, 2024.

The rise in Sobha share price came on the back of stellar show in the September quarter of financial year 2025 (Q2FY25)

Realty firm Sobha Ltd has posted a 75 per cent increase in consolidated net profit of Rs 26.08 crore for the September quarter. Its net profit stood at Rs 14.94 crore in the year-ago period. Total income rose to Rs 965.29 crore in the second quarter of the ongoing fiscal year from Rs 773.6 crore in the year-ago period, the company said in a regulatory filing on Thursday. Sobha Ltd Managing Director Jagadish Nangineni said, "Our Q2, FY25 performance reflects continued strength in our operations, fuelled by our teams efforts across functions and sustained demand in residential real estate. The geographical diversification of our project portfolio is paying rich dividends, with the ability to cater to demand across all our eleven operating cities." With solid financial strength of the company, post successful completion of rights issue, coupled with deep operational expertise and international brand recognition, the company is effectively positioned to ride the growth wave, he ...

Sobha's new sales plunged 44.9 per cent year-on-year (Y-o-Y) to 929,907 square feet in Q2FY25, from 1,686,196 square feet in Q2FY24.

The surge in Sobha share price came after the real estate developer's overall sales value rose 28% Y-o-Y to Rs 1,874 crore. Sequentially, the overall sales grew 24.6%, compared to Q4FY24

The April-June period saw delays in approvals for real estate projects amidst general elections in the country, resulting in fewer launches and a slowdown in sales

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residential sales across the top seven cities (National Capital Region, Mumbai Metropolitan Region, Bengaluru, Pune, Hyderabad, Chennai and Kolkata) slipped 8 per cent quarter-on-quarter in Q1-FY25

Realty firm Sobha Ltd will launch its rights issue on Friday to raise up to Rs 2,000 crore mainly to reduce debt, purchase land as well as machines and meet the construction cost of its various projects. The issue will close on July 4. On June 12, the Board approved the terms of the rights issue. The Bengaluru-based company would issue 1,21,07,981 equity shares each on partly-paid basis for an amount up to Rs 2,000 crore. The price fixed for rights issue is Rs 1,651 per share (including premium of Rs 1,641 per share). The rights entitlement ratio has been fixed at 6 rights equity shares for every 47 fully paid-up equity share of the company held by the eligible equity shareholders of the company, as on the record date. On the objects of the issue, the company has proposed to utilise Rs 905 crore for repayment or prepayment, in full or in part, of certain borrowings. The company plans to utilise Rs 212.35 crore to fund certain project related expenses for ongoing and forthcoming

Realty firm Sobha Group has chalked out an aggressive expansion plan for its India business and will soon enter the Mumbai luxury housing market with an aim to achieve more than a four-fold jump in annual sale bookings to Rs 30,000 crore in the next 4-5 years, according to its founder PNC Menon. Sobha Group, which was founded in 1995, has a real estate business in India and Dubai, with plans to soon enter the US property market. Buoyed by its success in the Dubai real estate market where Sobha Group clocked Rs 35,000 crore worth of sales in 2023, Menon -- the richest person in Oman -- intends to replicate the same in the Indian market in terms of scale of business and quality standards. Sobha Group's Dubai entity named Sobha Realty has developed a large resort-style luxury township here named 'Sobha Hartland' with complete backward integration to ensure quality. Another township and a few more projects are being constructed here. "Our India business Sobha Ltd will enter the Mumbai

Sobha stock price: Sobha Ltd's total income also fell 36 per cent Y-o-Y to Rs 791.25 crore from Rs 1,240.14 crore

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Realty firm Sobha Ltd has received demand notices of nearly Rs 46 crore from Income Tax Department. The notices were issued by Deputy Commissioner of Income Tax, Central Circle- 1(4), Bengaluru. The notices are related to Assessment Year ( AY) 2016-17 and 2022-23. In a regulatory filing on Monday, Sobha informed that the "company has received demand notices under section 156 of the Income Tax Act, 1961 for Rs 13.12 crore and Rs 32.68 crore related to AY 2016-17 and AY 2022-23 respectively, due to disallowances of certain expenses and other additions." Sobha said it is in the process of filing an appeal before the Commissioner of Income Tax (Appeals), against the said orders within the prescribed timelines. "The company has legal and factual grounds to substantiate its case. The company is in the process of evaluating the implications of these orders on the financial statements," Sobha said. There is no impact on operations or other activities, it added. Bengaluru-based Sobha Ltd

Most positive factors in terms of a pick-up in housing demand and office space absorption, CLSA said, are already priced in.