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Sobha registers 6% drop in sales bookings in FY17

Sobha has registered 6.21% drop in sales bookings to Rs 2,012.40 crore in the FY17, due to slowdown in property market. The company had achieved sales booking of Rs 2,145.80 crore in FY16. Further, the company’s sales volume dropped to 3 million sq ft last fiscal from 3.38 million sq ft in the 2015-16. However, sales realisation increased to Rs 6,704 per sq ft from Rs 6,342 per sq ft during the period under review.

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.

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