Sobha records sales volume 1.34 mn square feet in Q4 FY22

8 Apr 2022 , 11:27 AM

As compared with Q3 FY22, the companys sales volume has risen by 1.5%.

Total sales value was Rs 1,109.6 crore in Q4 FY22, up 3.5% YoY and up 5.9% QoQ.

Sobhas share in the sales value has increased by 7% to Rs 935.2 crore in Q4 FY22 from Rs 874.2 crore in Q4 FY21. It is higher by 3% as compared with 908.2 crore reported in Q3 FY22.

Total average price realisation was Rs 8,265 per square feet as against Rs 8,014 per square feet in Q4 FY21 and Rs 7,920 per square feet in Q3 FY22.

The cash flows remained healthy during the quarter resulting in further net debt reduction. The companys average cost of borrowing had fallen further during the quarter, Sobha said.

Sobha is primarily focused on residential and contractual projects. Its residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes.

The real estate developers consolidated net profit rose 51.4% to Rs 32.70 crore on 2.4% decline in net sales to Rs 668.20 crore in Q3 FY22 over Q3 FY21.

The scrip rose 0.18% to currently trade at Rs 714.25 on the BSE.

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