Sobha zooms on clocking 49% growth in sales bookings in Q2FY22
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Sobha is currently trading at Rs. 845.90, up by 87.40 points or 11.52% from its previous closing of Rs. 758.50 on the BSE.
The scrip opened at Rs. 810.00 and has touched a high and low of Rs. 859.00 and Rs. 809.40 respectively. So far 113149 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 859.00 on 07-Oct-2021 and a 52 week low of Rs. 240.00 on 16-Oct-2020.
Last one week high and low of the scrip stood at Rs. 859.00 and Rs. 754.60 respectively. The current market cap of the company is Rs. 7991.24 crore.
The promoters holding in the company stood at 51.99%, while Institutions and Non-Institutions held 30.98% and 17.03% respectively.
Sobha has clocked 49 percent growth in sales bookings at Rs 1,030.2 crore during the second quarter of this fiscal (Q2FY22) on better housing demand. The company had sold properties worth Rs 689.9 crore in the year-ago period.
Sales bookings in volume terms rose to 13,48,864 square feet in Q2 of this fiscal from 8,91,700 square feet in the same quarter of last financial year. The company’s sales bookings rose to Rs 1,713.1 crore during April-September of this fiscal year from Rs 1,177.6 crore in the corresponding period of the previous year. With festive season coming in and its planned new launches in the coming quarters, the company is expected to sustain momentum in the second half of the financial year.
Sobha is one of the fastest growing and foremost backward integrated real estate players in the country. It primarily focuses on residential and contractual projects.
