Sobha achieves pre-sales of Rs 31.23 billion in FY19

Mumbai : Sobha has achieved pre-sales of 4.03 million square feet valued at Rs 31.23 billion in the FY19. This is the highest ever new sales booking in the history of the company. Similarly, Bengaluru has achieved the highest ever new sales booking of 2.76 million square feet during FY18-19. The financial year was also notable for record completion of 5.41 million square feet of saleable area with 3,516 units in residential space for the company, which demonstrates its unparalleled execution capability and strong backward integrated process.

During the fourth quarter, the company has achieved new sales volume of 1,129,268 square feet total valued at Rs 9.20 billion with an average realisation of Rs 8,152 per square feet (SOBHA Share of sales value at Rs 7.12 billion). Sales volume are up by 24% Quarter-on-Quarter (Q-o-Q) and 11% Year-on-Year (Y-o-Y). Sales volume of 1.13 million square feet achieved during Q4-19 is the highest ever quarterly sales achieved by the company. Bengaluru has also achieved the highest ever new sales booking of 0.84 million square feet during Q4-19. 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.