During this quarter, Sobha posted new area sales of 0.93 million square feet, generating sales worth Rs 1,179 crore at an average price realization of Rs 12,674 per square foot. This reflects a decline from 1.18 million square feet and sales of Rs 1,873 crore in Q1 FY25.
Total sales value for the first half of FY25 stood at Rs 3,052 crore, slightly below the Rs 3,189 crore recorded in the same period last year.
Bangalore recorded Rs 609 crore in sales in the second quarter of fiscal 2025, indicating a 51.8% increase in overall sales. The Kerala region also performed well, recording a 36.2% growth in new sale area compared to the previous quarter, contributing Rs 338 crore in sales value.
Tamil Nadu saw its sales value more than double from the previous quarter, driven by a new project launched in fiscal 2025.
The company launched Sobha Infinia in Bangalore, offering a total saleable area of 490,254 square feet across 2.9 acres. This project comprises 196 units of three- and four-bedroom configurations along with a 22,000 square foot clubhouse.As of 11:26 am, the scrip was trading 0.2% lower at Rs 1,735.9 on the BSE. However, the stock has delivered multibagger returns, rallying over 150% in the past 12 months and gaining 170% over the past two years.As per Trendlyne data, the average target price of the stock is Rs 1,977, which shows an upside of 14% from the current market prices. The consensus recommendation from 14 analysts for the stock is a ‘Hold’.
In terms of technicals, the relative strength index (RSI) of the stock stands at 39.4, signaling it’s neither trading in the overbought nor in the oversold territory. MACD is at 39.9, which is above its center line, but below the signal line. The stock stood lower than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 150-day simple moving averages (SMAs).
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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