Sobha Ltd Achieves Record-Breaking Sales with Rs 2,078.8 Crore Bookings
Realty firm Sobha Ltd has reported record sales bookings of Rs 2,078.8 crore in Q1 of this fiscal year. The company's robust performance is driven by strong housing demand and strategic urban projects like Greater Noida's Sobha Aurum, marking its highest-ever quarterly sales value.
Realty giant Sobha Ltd has reported an impressive 11% increase in sales bookings, achieving a record Rs 2,078.8 crore in the first quarter of the fiscal year. This growth was buoyed by enduring housing demand, marking an increase from Rs 1,873.7 crore in the previous year.
The Bengaluru-based real estate firm sold 14.44 lakh sq ft of space between April and June, compared to 11.75 lakh sq ft in the previous year, according to a recent regulatory filing. It completed 1.07 million sq ft of saleable area, delivering 594 homes during the quarter.
The company's record-breaking achievement was attributed to factors such as urban migration, high commercial space absorption, improved consumer confidence, and a trend toward home ownership. Sobha launched two significant projects, including the ambitious Sobha Aurum in Greater Noida, aiming to invest Rs 800 crore to develop the luxury housing project.
(With inputs from agencies.)
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