New Delhi: Shares of Sobha Ltd on Friday closed higher by nearly 8% after the company reported strong operational performance for the fourth quarter and financial year 2017-18.
During the day, Sobha shares opened at Rs535, then surged further to touch an intra-day high of Rs564, up 11% over its previous closing price. At the end of the trade, the stock was quoted at Rs547.55, up 7.76% on the BSE.
On the NSE, the stock opened at Rs550, then surged further to Rs564, higher by 10.82% over its previous closing price. It finally ended the day at Rs550, up 8.08%.
The company in a regulatory filing said its operational performance for the fourth quarter and for the financial year 2017-18 has been the “best ever in value terms, with growth across regions and product categories”.
The company has registered new sales volume of 3.63 million square feet, total valued at around Rs2,861 crore at an average price realisation of around Rs7,892 per square feet at the close of financial year 2017-18, as per the filing. Annual sales volume and values are up by 21% and 42%, respectively.
For the fourth quarter, the company has achieved new sales volume of 1.02 million square feet, total valued at about Rs812 crore at an average price realisation of around Rs7,993 per square feet, the filing said.
Sales volume and values are up by 40% and 31%, respectively as compared to the corresponding quarter of the last year. The same are up by 9% and 7.5%, respectively as compared to the preceding quarter, the filing added.