Strong Sales In September Qtr Pushes Sobha Scrip Higher By Nearly 18%

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In the Q2FY18, leading South based realty player Sobha Limited recorded the net sales value of Rs 593 crore, which is the highest in the previous 10 quarters. Backed by the development, the company's scrip surged as much as 18.39% on the BSE to Rs 469.5 from previous day's close of Rs. 391.25.

Strong Sales In September Qtr Pushes Sobha Scrip Higher By Nearly 18%

In the same quarter, last year, the company recorded sales of Rs. 518 crore. I n an exchange filing the company said, "The company achieved new sales volumes of 861,084 square feet total valued at Rs 675 crore with an average realisation of Rs 7,840 per square feet in second quarter. Sales volume is marginally higher and total sales value is up by 22.5% as compared to Q2FY17".

The stock was trading at Rs. 458 at 1:59 pm on the BSE and the volume of the stock traded on both the exchanges totalled to 28,75,654. At the same time Sensex was trading flat with gains of 0.2% at 31,888.86.

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Read more about: sobha ltd, sales value, real estate, sensex
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