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HDFC Securities Report
Sobha Ltd. reported an operationally robust Q2 FY21 with pre-sales volume of 0.89 million square feet (down 14%/up 37% YoY/QoQ), despite the lack of new launches during the quarter.
Pre-sales grew by 1% YoY on 18% increase in realisation.
Real estate collections have also improved to Rs 5 billion (versus Rs 3.3 billion in Q1 FY21).
Sales activity has further picked up in October and, with new launches lined up, management expects positive growth in H2 FY21.
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