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Sobha surges 11% on strong sales volume in March quarter

The stock surged 11% to Rs 564 on the BSE after the real estate developer said it has reported strong 40% year on year growth in sales volume for the quarter ended March 2018.

Hyderabad real estate
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Hyderabad real estate

SI Reporter Mumbai
Shares of Sobha have surged 11% to Rs 564 per share on the BSE in early morning trade after the real estate developer said it has reported strong 40% year on year growth in sales volume for the quarter ended March 2018 (Q4FY18).

“For the fourth quarter, sales volume and values are up by 40% and 31% respectively as compared to corresponding quarter of last year and are up by 9% and 7.5% as compared to preceding quarter,” Sobha said in a press release.

The Company has achieved new sales volume of 1.02 million square feet, total valued