Sobha Limited achieves highest-ever sales value of Rs1,164 crore in Q2FY23

11 Oct 2022 , 10:23 AM

Sobha Limited, a prominent real estate player, announced that the company has achieved e highest ever sales value in Q2FY23, on the back of steady sales volume improvement on the previous best of average price realization.

The company stated that cash flow management continues to be its focus area and has resulted in further net debt reduction.

Sobha Limited logged the highest-ever quarterly sales value of Rs1,164 crore, registering a 13% jump from Rs1,030.20 crore in Q2FY22.

Further, at Rs961 crore, Sobha’s proportion of sales value is the highest it has ever been, up 12.5% from Q2FY22.

The company also informed that the average price realization improved to Rs8,709 /sft, up by 14% from Q2FY22.

The company launched 3 new residential projects towards the end of the quarter concerned. Two projects are located in Bangalore and one in Thiruvananthapuram with a total saleable area of 880,893 sft.

At around 10.29 AM, Sobha Limited was trading at Rs632.25 down by 2.59% from its previous closing of Rs649.05 on the BSE. The scrip opened at Rs647.75 and touched intraday high and low of Rs653.50 and Rs630.15 respectively.

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