Sobha covers more ground in Q2; volume growth expected to be steady

Street,however, worried over debt

The stock of Sobha gained nearly 6 per cent after the company reported steady sales in the September quarter, and given that valuations had turned attractive following a recent correction.
 
Over the last couple of weeks, the stock had lost close to a fifth of its value. In an operational update, the firm announced new sales of a million square feet, marginally higher than sales in the year ago period.
 
The growth in sales was led by the Bengaluru market, which registered growth of 11.3 per cent. It is the single largest market for Sobha, and accounts for