Sobha Ltd shares gain 5% after Company issues operational update for Q1FY21

The company said the demand has remained consistent in all the cities where it operates in spite of uncertainties of the Covid-19 pandemic

Shares of real estate developer, Sobha Ltd, climbed 5 per cent to Rs 233.75 on the NSE on Monday after the company issued an operational update for the first quarter of the financial year 2020-21. 

It said that despite two months of lockdown, disrupted demand outlook, complete washout of economic activities in the real estate sector, Sobha managed to clock 70 per cent of sales volume during Q1 2021 as compared to Q4 2020. "We were able to achieve this through online technological tools, our self-reliant business model, customer trust on Sobha brand, and unmatched delivery track record," " the