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Sobha surges on achieving sales volume of 10.63 lakh sq. ft. for Q1FY20

Sobha is currently trading at Rs. 568.50, up by 8.35 points or 1.49% from its previous closing of Rs. 560.15 on the BSE.

The scrip opened at Rs. 570.55 and has touched a high and low of Rs. 575.00 and Rs. 567.00 respectively. So far 9250 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 585.00 on 13-Jun-2019 and a 52 week low of Rs. 380.50 on 10-Oct-2018.

Last one week high and low of the scrip stood at Rs. 575.00 and Rs. 533.25 respectively. The current market cap of the company is Rs. 5394.83 crore.

The promoters holding in the company stood at 55.97%, while Institutions and Non-Institutions held 38.28% and 5.75% respectively.

Sobha has reported operational performance for Q1FY20. During the quarter, the company achieved new sales volume of 10,63,632 square feet (sq. ft.) in total valued at Rs 7.78 billion, with a total average realisation of Rs 7,312 per square feet. The sales volume is up by 11% as compared to the corresponding quarter of last 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.

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