Sobha's Sale Bookings Drop 29% Annually, Rise 18% Sequentially in Q3 FY25
Real estate developer Sobha Ltd's sale bookings saw a 29% decline to Rs 1,388.6 crore in Q3 FY25, primarily due to reduced new supply. Despite this, the company reported a sequential increase of 18% from the previous quarter.
Sobha LtdReal EstateSale BookingsQ3 Fy25Property SalesReal Estate NewsJan 08, 2025
In the corresponding quarter of the previous year, the company's sale bookings stood at Rs 1,951.6 crore.
However, there was a sequential increase of 18% from the previous quarter, where the sale bookings were Rs 1,178.5 crore, according to a regulatory filing.
For the period April-December of the 2024-25 fiscal year, Sobha Ltd's sale bookings declined to Rs 4,440.8 crore from Rs 5,140.1 crore in the same period of the previous year.
During the entire 2023-24 fiscal year, the company sold properties worth Rs 6,644.1 crore, mainly residential units.
In Q3 FY25, Sobha recorded sales value of Rs 13.88 billion (1,388 crore) supported by new sales area of 1.01 million (10 lakh) sq ft at an average price realisation of Rs 13,663 per sq ft.
This marks a 17.8% growth compared to the previous quarter.
For the first nine months of FY25, 3.12 million (31.2 lakh) sq ft of new sales area was sold, generating a value of Rs 4,441 crore.
The average realisation improved by 31.3% over the same period last year to Rs 14,226 per sq ft, driven by price increases in ongoing projects and higher realisation in new project launches during the year, Sobha said.
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Frequently Asked Questions
What was the percentage decline in Sobha Ltd's sale bookings in Q3 FY25 compared to the same period last year?
Sobha Ltd's sale bookings declined by 29% in Q3 FY25 compared to the same period last year.
What was the sequential increase in sale bookings for Sobha Ltd in Q3 FY25?
Sobha Ltd's sale bookings increased by 18% sequentially in Q3 FY25 compared to the previous quarter.
What was the total sale bookings for Sobha Ltd in the first nine months of FY25?
Sobha Ltd's total sale bookings for the first nine months of FY25 were Rs 4,441 crore.
How did the average realisation per sq ft change for Sobha Ltd in the first nine months of FY25?
The average realisation per sq ft improved by 31.3% over the same period last year to Rs 14,226 per sq ft.
Which markets does Sobha Ltd operate in?
Sobha Ltd operates in Bengaluru, Delhi-NCR, Kerala, Tamil Nadu, Hyderabad, Pune, and Ahmedabad.
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