Sobha Shares Tumble 4% on Weak Q2 Sales

8 Oct 2024 , 02:23 PM

Real estate company Sobha’s shares fell over 4% to Rs 1,675.3 in Tuesday’s BSE trading after total sales for the second quarter of FY25 fell 32% year over year (YoY) to Rs 1,178.5 crore. In contrast, the business had total sales in Q2 FY24 of Rs 1,723.8 crore.

Sobha reported 0.93 million square feet of new area sales during this quarter, bringing in sales of Rs 1,179 crore at an average price realization of Rs 12,674 per square foot. This is a decrease from Q1 FY25 sales of Rs 1,873 crore and 1.18 million square feet.

The total sales value for the first half of FY25 was Rs 3,052 crore, which was somewhat less than the Rs 3,189 crore tallied during the same time previous year.

Bangalore’s sales in the second quarter of the 2025 fiscal year were Rs 609 crore, representing a 51.8% rise in total sales. The Kerala region did well as well, adding Rs 338 crore in sales value and registering a 36.2% increase in new sale area over the previous quarter.

Tamil Nadu had its sales value more than double from the previous quarter, led by a new project started in fiscal 2025.

In Bangalore, the company introduced Sobha Infinia, which spans 2.9 acres and has a total saleable area of 490,254 square feet.

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