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Sobha Ltd recorded a 61% jump in its second-quarter sales bookings, reaching INR 1,902.6 crore, reflecting higher demand for its residential properties. Bengaluru contributed nearly 70% of sales, led by the Sobha Town Park project, while Delhi-NCR and Kerala regions also added substantial value, supported by festive season demand. For the first half of the fiscal year, Sobha achieved its best-ever H1 performance with sales of INR 3,981.4 crore. Despite declining housing sales volumes in major cities, leading branded developers like Sobha are capturing market share from smaller, unorganized players.
Sobha Ltd, a leading real estate developer, reported a substantial increase in its second-quarter sales bookings, reaching INR 1,902.6 crore, a 61% rise from INR 1,178.5 crore during the same period last year. The company attributed the growth to stronger demand for its residential projects and improved market sentiment. Advertisement
During the July-September period, Sobha sold 13.94 lakh square feet of residential area at an average price realization of INR 13,648 per square foot. Bengaluru accounted for 69.7% of total sales, contributing INR 1,326.4 crore, primarily driven by robust sales at the SOBHA Town Park project. The Delhi-NCR region contributed INR 309.7 crore, while the Kerala region added INR 184.8 crore, benefiting from heightened festive season demand.
For the first half of the fiscal year, Sobha achieved its highest-ever H1 sales bookings of INR 3,981.4 crore, up from INR 3,052.2 crore in the same period last year. To provide context, the company's total sales during the 2024-25 fiscal stood at INR 6,276.5 crore. Sobha highlighted that rationalization and simplification of GST rates, along with a declining interest rate environment supported by low inflation, are expected to further stimulate household consumption and domestic economic activity.
In the latest quarter, Sobha completed 1.18 million square feet of saleable area, delivering 591 homes across its projects. The performance reflects the company's focus on key projects and premium residential offerings.
While overall housing sales volumes showed a decline during the same period, PropEquity data indicated a 4% drop in the number of flats sold in the top nine cities, and Anarock reported a 9% annual fall across seven major cities. Despite this, large and branded developers like Sobha continue to record higher sales values, gaining market share from smaller, unorganized, and unbranded developers.
The company's performance underscores its strong brand presence and strategic positioning in high-demand regions. Even as the broader housing market experiences volume pressures, Sobha's consistent focus on project quality, timely delivery, and strategic pricing has allowed it to maintain strong sales momentum.
Source PTI
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