Sobha shares surge over 6% after posting record sales in FY21
- The company said that it achieved best ever total sales volume of 1,337,707 square feet of super built-up area valued at ₹10.72 billion.
Shares of Sobha Ltd jumped 6.7% in Tuesday's session at ₹458 per share on the BSE after the company on Monday said that the new sales stood at 1,337,707 square feet in Q4 with total sales value at ₹1,072 crore. Total sales value achieved during FY 20-21 is the highest ever in the history of the company, it informed in a regulatory filing.
The company said that it achieved best ever total sales volume of 1,337,707 square feet of super built-up area valued at ₹10.72 billion. Sales volume achieved by Bengaluru, Gurugram, Pune and Kochi regions is the highest ever.
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Despite of COVID-19 impact during Ql-21, Gurugram, Kochi, Thrissur and Pune have surpassed their sales performance as compared to FY 19-20. Excluding Bengaluru, other regions total contribution to overall sales volume and value is the highest in the history of the company, it said.
The company achieved 9% higher sales in value terms and 10% higher average price realization as compared to FY-19-20. Cash flows remain healthy during the quarter resulting in substantial net debt reduction, Sobha said in the exchange filing. The company also claimed to be on track on proposed launches and remains cautiously optimistic in the coming financial year as well.
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