Sobha Developers’ sales rise by 58%
Sobha Developers, a Bangalore-based leading real estate company, on Friday revealed that it has sold properties worth Rs 479 crore in the first quarter of this fiscal, up by 58% from the same period last year.
In the first quarter of 2011, the firm had sold properties worth Rs 302.7 crore.
For the quarter ended June 30, 2012, the firm has sold 0.84 million sq ft of new space valued at Rs 479.4 crore at an average price realisation of Rs 5,737 per sq ft.
And in 2011-12, it had sold projects worth Rs 1,701.5 crore. The company’s sales volume and appreciation per sq ft rose by about 26% each.
In terms of volume, the company sold 8.35 lakh sq ft 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.
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Source: Business Standard
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