Business Update5 Apr 2024, 02:17 am
Sobha Limited ReportsBest Ever Annual Sales Valueof Rs. 66.44 bn in FY 2023-24 with Robust Housing Demand in India
AI Summary
Sobha Limited reported its best-ever annual sales value of Rs. 66.44 bn, new area sales of 6.08 mn sft, and an average price realization of Rs. 10,922 / sft in FY 2023-24. The robust housing demand in India contributed to this success, with key factors including increased government expenditure, domestic consumption growth, and physical infrastructure development. The economy's steady growth, stronger urban center focus, and higher income levels led to a higher residential demand scenario in the company's cities of operation. In Q4-FY24, SOBHA sold 1,339,319 sft, clocking a value of Rs. 15.04 bn at an average price realization of Rs. 11,230 / sft.
Key Highlights
- SOBHA achieved its best-ever annual sales value of Rs. 66.44 bn, new area sales of 6.08 mn sft, and an average price realization of Rs. 10,922 / sft in FY 2023-24
- India's robust housing demand led to a higher residential demand scenario in SOBHA's cities of operation
- SOBHA sold 1,339,319 sft in Q4-FY24 with a value of Rs. 15.04 bn and an average price realization of Rs. 11,230 / sft
- Bangalore contributed 77.5% to overall sales value for the quarter via the sale of 1.01 mn sft