Sobha Ltd. share price rose over 6% on Tuesday after its total sales jumped in the January–March quarter. Its total sales value grew 22.1% on the year to Rs 1,836 crore in the fourth quarter from Rs 1,504 crore. Total sales value entails both new and existing projects.
Sobha's sales value, which reflects sales of new projects, increased 7.53% on the year to Rs 1,370 crore during the quarter ended March 31, 2024, from Rs 1,274 crore. Average price realisation stood at Rs 11,781 per square feet, compared to Rs 11,230 square feet, the company said in an exchange filing.
Total sales for financial year 2025 stood at Rs 62,765, which is a 5.53% decline from FY24's total sales value. Sobha's total sales value was Rs 66,441 in the previous financial year. The real-estate developers' sales value for new projects also declined 8.4% on the year to Rs 49,605 in FY25, compared to Rs 54,150 in the previous financial year.
Meanwhile, average price realisation grew 22.90% on the year to Rs 13,412 crore in FY25 from Rs 10,922 in the previous financial year.
Sobha Share Price
Sobha share price rose 6.53% to Rs 1,166.5 apiece, the highest level since April 4. It pared most gains to trade 0.52% higher at Rs 2,818.80 apiece as of 9:50 a.m., as compared to a 1.40% advance in the NSE Nifty 50.
The stock declined 35.23% in 12 months, and 28.81% on year-to-date basis. Total traded volume so far in the day stood at 0.24 times its 30-day average. The relative strength index was at 24.41.
Out of 17 analysts tracking the company, 13 maintain a 'buy' rating, one recommends a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 50.3%.
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