Sobha share price rises 2% on double-digit growth Q3 sales volume

Sobha

Sobha share price added over 2 percent intraday on January 6 after the company reported a 17 percent rise in sales volume numbers in the quarter ended December 2019.

During Q3FY20 (October-December), the company has achieved a sales volume of 10,66,022 square feet valued at Rs 7.26 billion, with a total average realisation of Rs 6,811 per square feet, the company said in a release.

The company’s total sale value was up by 4 percent during Q3FY20 as compared to Q3FY19 and by 6 percent as compared to Q2FY20.

Total average price realization during Q3 has increased by 3 percent as compared to Q2FY20 and is expected to move upwards.

During the quarter, the company released new towers to the tune of 0.61 million square feet saleable area in SOBHA Royal Pavilion project situated in Bengaluru.

The board of company appointed Srivathsala Kanchi Nandagopal bearing as additional director in the capacity of non-executive independent director of the company.

At 10:08 hrs, Sobha was quoting at Rs 406.00, up Rs 1.80, or 0.45 percent on the BSE.
News Source:- Moneycontrol

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