INSUBCONTINENT EXCLUSIVE:
Shares of Sobha Ltd climbed 5 per cent on Thursday as investors cheered an 18 per cent surge in new sales volume the realtor reported for
the June quarter.
New sales volume of the Bangalore-base real estate company jumped to 9,60,085 square feet in Q1FY19 over 8,15,230 square
Bangalore region contributed 64 per cent of total sales volume during Q1FY19
The volumes in other locations increased by 56 per cent as compared to corresponding quarter of last year.
Total sales value jumped by 22
confidently with many new launches in the pipeline
During this quarter, we announced an investment of over Rs 500 crore towards residential development in Gujarat International Finance
Bengaluru, Gurugram and Kochi continue to perform well and are ably supported by the Coimbatore and Mysore
During the first quarter, the company had launched one plotted development project namely, 'Sobha Meadows', in Mysore, measuring total
saleable area of 0.13 million square feet.
Also, it has received RERA approval for one of its Bangalore project during last week of June
2018, namely 'Sobha Lake Gardens' at Old Madras Road, having total saleable area of 0.89 million square feet
This project will be released for sale during July, 2018
The scrip was trading 4.44 per cent up at Rs 498 at around 10.45 am (IST).
