Bangalore
based real estate company Sobha Developers has sold properties worth Rs. 479
crore in the first quarter of this fiscal, up by 58% from the year-ago period.
In the first quarter of last fiscal, Sobha had sold properties worth Rs. 302
crore.
For
the quarter ended June 30, 2012, it have sold 0.84 million square feet of new
space valued at Rs 479 crore at an average price realisation of Rs 5,737 per
square feet.
The
company's sales volume and realisation per sq ft rose by about 26 per cent
each.
In
terms of volume, the Sobha Developers sold 8.35 lakh square feet area in
April-June quarter of this fiscal as against 6.65 lakh sq ft in the year-ago
period. The realisation increased to Rs 5,737 per sq ft from Rs 4,547 a sq ft
in the review period.
"In
this backdrop, Sobha has set a guidance of new sales valuing at Rs 2,000 crore
for the current this fiscal. Despite the tough economic climate, the
company...Has performed well in the first quarter of FY 2012-13," Sobha
said.
In
2011-12, it had sold projects worth Rs 1,701.5 crore.
Apart
from Bangalore, Sobha has projects Chennai, Mysore, Pune, Thrissur, Coimbatore
and the national capital region.
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