Sobha Ltd. reported subdued sales performance in the April to June quarter, with a 3.5 percent drop in total sales value to Rs 513 crore.
The real estate company sold 8.09 lakh square feet in the quarter, a decline of 3.8 percent from the year ago period, according to its filing to the exchanges. Average price realisation per square feet remained flat at Rs 6,340.
The performance of the company during the first quarter of FY17 was relatively subdued, as the year started off on a slow note but the sales picked up momentum as the quarter progressed.Sobha's Exchange Filing
During the quarter, the company launched ‘Sobha City' in Gurgaon with total salable area of 32.4 lakh square feet.
Sobha is looking to launch projects in Bangalore, Chennai and Cochin, which it believes will aid operational performance in the financial year 2017.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
