Sobha Ltd recorded robust sales in December 2020 (Q3FY21) quarter. The company registered net sales of 1,133,574 square feet in Q3FY21 versus 1,066,022 square feet in Q3FY20. Sales in Gurugram, Kochi, Mysore, Thrissur and Pune was stellar compared to other locations.
In value terms, the company's sales stood at Rs887.6cr in Q3FY21 against Rs726.1cr in the same quarter last year.
Sobha in its regulatory filing said, "Sales volume achieved during Q3-21 is the best ever quarterly sales volume reported by the company without any major launch during the quarter. Bengaluru has returned to normalcy and has contributed 69% of the total sales volume along with a meaningful contribution from other regions especially Gurugram, Kerala and Pune. We are currently witnessing good sale s momentum across all other regions along with Bengaluru. There are low unsold stock in Chennai, Coimbatore and Mysore regions and hence sales performance of these regions need s to be viewed in line with that."
"Sales volume achieved by Kochi and Thrissur regions during 9M21 has already surpassed the sales volume achieved during FY 19-20. Gurugram and Pun e regions are also poised to surpass the sales volume achieved during FY 19-20," Sobha added.
Further, Sobha said, "We are pleased to inform you that we have posted better sales numbers during Q3-21 as compared to the pre- Covid level Q3-20 due to good demand witnessed across all product categories where SOBHA is operating. Sales volume, total sales value, SOBHA's share of the sale value and price realization are up by 6%,22%,12% and 15% respectively as compared to Q3- 20. Sales volume achieved at Gurugram, Pune and Thrissur regions during Q3-21 have grown by 92%,87% and 59% respectively as compared to Q3-20. "
Going forward, Sobha said, "With new launches planned across various cities in the next few quarters and inherent demand for housing continuing, our sales performance during H2-21 is expected to be better than H2- 20. With our continuous focus on cash flow management, we were able to manage our net debt levels, finance cost and other costs during the quarter. Our average interest cost continues to come down as on 31st December 2020 as compared to previous quarters."
At around 2.53 pm, Sobha was trading at Rs435 per piece up 5.87% on Sensex. The stock has touched an intraday high of Rs439.70 per piece.