New Delhi, Realty firm Sobha Ltd has reported 28 per cent growth in sales bookings year-on-year to Rs 6,644.1 crore during the last financial year on better volumes and average price realization amid strong consumer demand for residential properties. Is.
Bengaluru-based Sobha Ltd had recorded sales bookings of Rs 5,197.8 crore in the year-ago period.
In its latest operational update, Sobha highlighted that it has achieved historical best sales performance across all sales parameters.
In volume terms, sales bookings increased 8 per cent to 6.08 million (60. lakh) sq ft from 5.65 million (56.5 lakh) sq ft last year.
The average price realization increased by 19 per cent to Rs 10,922 per square foot.
Sobha launched six projects spread over 7.02 million (70 lakh) sq ft area in the last financial year, while those in 2022-23 are spread over 3.96 million (39.6 lakh) sq ft area.
“Housing demand in India remained strong throughout the year, making the financial year 2023-24 the strongest year for the sector. Increase in government expenditure, household consumption growth, all-round physical infrastructure development have placed India at the forefront of economic growth in the world. Have been elevated to leadership positions." Even in a turbulent geopolitical environment and has laid a strong foundation for the future,” the company said.
Apart from Bengaluru, the leading real estate developer has a significant presence in Kerala, Tamil Nadu, Pune, Hyderabad, Delhi-NCR and Gujarat.
Bengaluru-based Sobha Ltd had recorded sales bookings of Rs 5,197.8 crore in the year-ago period.
In its latest operational update, Sobha highlighted that it has achieved historical best sales performance across all sales parameters.
In volume terms, sales bookings increased 8 per cent to 6.08 million (60. lakh) sq ft from 5.65 million (56.5 lakh) sq ft last year.
The average price realization increased by 19 per cent to Rs 10,922 per square foot.
Sobha launched six projects spread over 7.02 million (70 lakh) sq ft area in the last financial year, while those in 2022-23 are spread over 3.96 million (39.6 lakh) sq ft area.
“Housing demand in India remained strong throughout the year, making the financial year 2023-24 the strongest year for the sector. Increase in government expenditure, household consumption growth, all-round physical infrastructure development have placed India at the forefront of economic growth in the world. Have been elevated to leadership positions." Even in a turbulent geopolitical environment and has laid a strong foundation for the future,” the company said.
Apart from Bengaluru, the leading real estate developer has a significant presence in Kerala, Tamil Nadu, Pune, Hyderabad, Delhi-NCR and Gujarat.
