Sobha has achieved a total sales volume of 895,539 square feet of super built-up area valued at Rs682.9cr for the quarter ending June 2021 (Q1FY22). Total sales volume, sale value, Sobha share of the sale value and total average price realization are up by 38%, 40%,45% and 2% respectively as compared to Q1-21.
During the quarter, Gurugram, Kochi, Thrissur, Pune and GIFT CITY have done quite well as compared to Ql-21 despite the impact of the COVID second wave. Bengaluru sales volume has grown by 37% as compared to Ql-21 despite the stringent impact of a covid second wave during the quarter.
Sobha's average cost of borrowing has further come down during the quarter.
Sobha said, "We believe, with the increased vaccination drive and effective lockdowns, the second wave has been contained. Economic activities have started opening, and it is expected that normalcy will return in the second half of FY-2021-22. However, we cannot completely rule out uncertainties and likely impacts caused by the second wave of the pandemic. We are also unsure about how and when the third wave will strike and with what consequences."
However, Sobha added, "we have planned new launches of 13.35 million square feet, and we intend to take it ahead. We believe SOBHA is strong enough to withstand any impact with resilience and is confident of keep improving its market share in the residential space."
On Sensex, Sobha finished at Rs518.60 per piece up by 5.6%.