Sobha shines on reporting 26% rise in sales value during Q4FY23

Sobha is currently trading at Rs. 472.10, up by 21.85 points or 4.85% from its previous closing of Rs. 450.25 on the BSE.

The scrip opened at Rs. 469.95 and has touched a high and low of Rs. 474.50 and Rs. 463.00 respectively. So far 24712 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 750.00 on 09-Sep-2022 and a 52 week low of Rs. 412.40 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 474.50 and Rs. 429.10 respectively. The current market cap of the company is Rs. 4462.02 crore.

The promoters holding in the company stood at 51.99%, while Institutions and Non-Institutions held 28.81% and 19.19% respectively.

Sobha has achieved sales value of Rs 1463.40 crore in Q4FY23 as compared to Rs 1164.20 crore in Q4FY22 i.e. up by 25.70%. In Q3FY23, the company had achieved sales value of Rs 1424.70 crore. In FY23, the company has reported 34.30% rise in sales value to Rs 5197.80 crore as compared to Rs 3870.20 crore in FY22.

The company’s share of sales value stood at Rs 1207.40 crore in Q4FY23 as compared to Rs 961.00 crore in Q4FY22. Average Price realization improved to Rs 9,898 /sft in Q4FY23, increased by 13.65% from Q4FY22 and 2.53% from Q3FY23.

Sobha is one of the fastest growing and foremost backward integrated real estate players in the country. It primarily focuses on residential and contractual projects.