IGI Logo

Below are Quote on Sobha Limited reported a good set of numbers for Q1FY22 by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd   

Sobha Limited reported overall pre-sales growth of 40% YoY. The company reported pre-sales of ₹682.9 Crores as against ₹487.7 crores in Q1FY21. Total average price realization at ₹7626 per square feet was up by 1.7% as against ₹7498 per square feet in Q1FY21 on account of price hikes taken by the company in FY21.

The company has reported total sales of 0.89 MSF, up by 37.7%, as against 0.65 MSF in Q1FY21. Gururgram has performed exceptionally well for the company this quarter,  with sales up by 119% YoY, while Chennai and Coimbatore reported a drop in sales. Overall, the company reported a good set of numbers in Q1FY22 but was not able to achieve the 1msf quarterly sales target due to state-wise lockdown in various cities. We expect the company to perform well in Q2FY22 with easing of lockdown by various states. We have a Neutral view on Sobha Limited.

Above views are of the author and not of the website kindly read disclaimer