Sobha Q3 Updates: Sales Fall 29% To Rs 1,389 Crore

Sobha Ltd. reported on Tuesday a 29% decline in total sales to Rs 1,388.6 crore in the third quarter of the current financial year in comparison to Rs 1,951.6 crore in the year-ago period.

The real estate firm sold 1.01 million sq. ft. at an average price of Rs 13,663 per sq. ft. in the quarter ended December, the company said in an exchange filing on Tuesday.

The average price realisation rose 17% to Rs 1,366 crore against Rs 1,173 crore reported in the same period last year. Average realisation improved by 31.3% over the same period last year to Rs 14,226 per sq. ft., aided by price increases in ongoing projects and higher realisation in the new project launches during the year.

For the first nine months of financial year 2025, Sobha sold 3.12 million sq. ft. worth Rs 4,441 crore, with an average price increase of 31.3% to Rs 14,226 per sq. ft. due to price hikes and new project launches.

In Bengaluru, sales reached Rs 1,001 crore, with 7.22 lakh sq. ft. sold, contributing 72.1% to the total sales value. Gurugram also saw a drop in sales at 59,127 sq. ft. contributing 10.3% to total sales, while Pune gained traction with Sobha Nesara nearing completion, boosting customer confidence.

Tamil Nadu saw a 79% increase in sales value over the first nine months, driven by new launches and project progress. Kerala and Hyderabad maintained steady performance due to existing inventory.

Sobha Ayana, a project with a total saleable area of 1,130,711 sq. ft., was launched in Bengaluru during the quarter. The development features 12 wings with 683 three-bedroom apartments, ranging in size from 1,553 sq. ft. to 1,789 sq. ft.

Situated within Sobha Dream Acres on Panathur Main Road, the project is located near Marathahalli-Outer Ring Road, an area known for its high concentration of office spaces, driving strong demand.