Quote on Sobha Limited, stock up by 11% on back of good quarterly numbers by Mr. Yash Gupta, Angel One Ltd
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Below is quote on Sobha Limited, stock up by 11% on back of good quarterly numbers by Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
Sobha limited reported best ever sales volumes for the quarter Q2FY22, company reported pre-sales of 1.34 Mn sqft up by 51% as compared to 0.89 of Q2FY21. Bengaluru market again top performer for the company sales up by 48% at 0.8 Mn Sqft while other markets like Gurugram at 0.18 Mn sqft, Kochi at 0.11 Mn sqft.
Company has reported total sales of ₹1030 crores up by 49% as compared to Q2FY21 of ₹6899. Sales realization has come down YoY due to change in sales mix at ₹7637.
We have seen very strong demand in geographics like Bengaluru, Gurugram, Pune etc during the quarter and we expect sales momentum to continue for the coming quarters on back of festival seasons and lowest home loan interest rate. We continue with our buy call on Sobha Limited.
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