Sobha published its operations update for the quarter and fiscal FY21 and it was good. The company said that Q3FY21 has been its best ever quarter in the history of the company on all the operational parameters. This was on the back of having launches at the right place, digital marketing, optimum utilization of in-house capabilities and operational efficiency. SOBHA's foray into multiple regions is yielding results with market share gains across all the operating cities.
? Achieved best ever total sales volume of 1,337,707 square feet of super built-up area valued at Rs 10.72 billion.
? Due to consistent demand across all the product segments at sustainable prices, was able to achieve best ever price realization of Rs 8,014 per square feet amongst last 8 quarters.
? Sales volume, total sales value and total price realisation were up by 48%, 54%, and 5% respectively as compared to Q4-20.
? Sales volume, total sales value and total price realisation were up by 18%, 21% and 2% respectively as compared to Q3-21.
? Sales volume achieved by Bengaluru, Gurugram, Pune and Kochi regions is the highest ever.
? Launched new residential projects to the tune 2.77 million square feet of super built up area and 0.27 million square feet in commercial space.
? Other regions specially Gurugram, Kochi, Thrissur and Pune have seen significant traction in demand sentiments and contributed good sales volumes.
? Cash flows remain healthy during the quarter resulting in substantial net debt reduction.
The stock price has reacted positively to this news, going up over 8% to hit an intraday high at Rs.465, with volumes going up over 4 times. Its 52-week high is at Rs.495.30.