Sobha shares fall 4% after total sales decline 32% YoY to Rs 1,179 crore in Q2
realty firm Sobha dropped nearly 4% to Rs 1,675.3 in Tuesday's trade on the BSE following a 32% year-on-year (YoY) decline in total sales for the second quarter of FY25, amounting to Rs 1,178.5 crore. In comparison, the company reported total sales of Rs 1,723.8 crore in Q2 FY24.
During this quarter, Sobha posted new area sales of 0.93 million square feet, generating sales worth Rs 1,179 crore at an average price realization of Rs 12,674 per square foot. This reflects a decline from 1.18 million square feet and sales of Rs 1,873 crore in Q1 FY25.
Total sales value for the first half of FY25 stood at Rs 3,052 crore, slightly below the Rs 3,189 crore recorded in the same period last year.
Bangalore recorded Rs 609 crore in sales in the second quarter of fiscal 2025, indicating a 51.8% increase in overall sales. The Kerala region also performed well, recording a 36.2% growth in new sale area compared to the previous quarter, contributing Rs 338 crore in sales value.
Tamil Nadu saw its sales value more than double from the previous quarter, driven by a new project launched in fiscal 2025.
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