Sobha Limited Q3FY20 sales volume jumps 17 per cent YoY

Bengaluru-based Sobha Limited has come up with sales numbers for Q3FY20 with 17 per cent jump in total sales volume on YoY basis. During Q3FY20, the company reached a new sales volume of 1,066,022 square feet, valued at Rs 7.26 billion, with a total average realisation of Rs 6,811 per square feet.

On nine months basis, the total sales volume grew 9 per cent. The sales value has risen by 4 per cent YoY and 6 per cent QoQ. The total average price realization during Q3FY20 has increased by 3 per cent as compared to Q2FY20 and is expected to move upwards, as the company is gaining traction in its luxury and super luxury ongoing projects across cities.

During the quarter, the company released new towers to the tune of 0.61 million square feet saleable area in SOBHA Royal Pavilion project situated in Bengaluru. The city has contributed 77 per cent to this quarter's total sales volume, along with meaningful contribution from other regions. The demand remains consistent in all the cities where the company operates.

With adequate unsold inventory in ongoing projects coupled with planned new launches of 10.46 million square feet in the coming quarters, the company expects the sales volume to grow in the near future. This would turn into better operational and financial performance.

During the quarter in review, Sobha has received a new contractual order to the tune of Rs 196 crore.