Sobha: Sales Bookings Cross Pre-Covid-19 Levels, Says ICICI Securities
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ICICI Securities Report
Sobha Ltd.’s Q3 FY21 gross sales volumes of 1.13 million square feet worth Rs 8.9 billion were up 6% YoY in volume terms and 22% YoY in value terms.
A strong QoQ uptick in Bengaluru and continued momentum in Kochi/Gurugram markets has enabled Sobha to cross pre-Covid-19 sales bookings in spite of minimal launches.
The company maintains its guidance of achieving a YoY growth in H2 FY21 sales bookings on the back of new launches and monetisation of existing inventory.
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