Sobha Ltd Faces 32% Dip in Q2 Sale Bookings Despite Strong Demand

Realty firm Sobha Ltd reported a 32% decline in sale bookings to Rs 1,178.5 crore in the July-September quarter despite strong housing demand. The Bengaluru-based company sold 0.93 million square feet during the period. Total sales for the fiscal year 2023-24 reached Rs 6,644.1 crore.

Sobha Ltd, a prominent real estate firm based in Bengaluru, has experienced a 32% decrease in its sale bookings for the July-September quarter, despite prevailing strong housing demand.

The company disclosed in a regulatory filing that its current quarter bookings amounted to Rs 1,178.5 crore, a significant drop from Rs 1,723.8 crore in the same period last year.

In the entire fiscal year 2023-24, Sobha achieved property sales worth Rs 6,644.1 crore, as the company continues its operations across various regions, including Delhi-NCR, Pune, and Gujarat.

(With inputs from agencies.)