NEW DELHI, Aug 10: Real estate firm Sobha Developers reported 58 per cent rise in sales booking during the first quarter of this fiscal at Rs 479 crore on the back of higher realisation and more volumes.
In an investors presentation, the Bangalore-based Sobha Developers said it is targeting “sales value of Rs 2,000 crore for the financial year 2012-13” against a sales booking of Rs 1,701 crore in the last fiscal.
During April-June quarter, sales in volume terms increased by 25 per cent at 0.84 million sq ft as against 0.67 million sq ft in the corresponding period of the last year.
In value terms, the company recorded a sales booking of Rs 479 crore during Q1 of FY’13 against Rs 303 crore in the year-ago period.
“Achieved average price realisation of Rs 5,737/sq ft during Q1-13, as against Rs 4,547/sq ft during Q1-12, which is up by 26 per cent y-o-y,” the company said.
Earlier this week, Sobha reported 73 per cent increase in net profit at Rs 44.9 crore for the quarter ended June against Rs 26 crore in the year-ago period.
The revenue was up by 57 per cent to Rs 435 crore during April-June quarter against Rs 278 crore in the corresponding period of last year.
Sobha Developers has projects in Bangalore, Gurgaon, Chennai, Pune, Thrissur, Coimbatore and Mysore.
The company has completed 80 real estate projects and 216 contractual projects covering about 52.98 million sq ft.
At present, the company has 38 ongoing housing projects aggregating to 23.50 million sq ft of developable area and 42 ongoing contractual projects aggregating to 9.22 million sq ft under various stages of construction. (PTI)
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