News: Sobha sales value for Q4FY24 grew by 2.8% YoY to ₹ 1,504 crore (the company's share in sales value at ₹ 1,273.5 crore up 5.5%) The average price realization in Q4FY24 jumped 13.5% YoY to ₹ 11,230 per sq ft. The new sales area at the end of Q4FY24 stood at 1.3 million square feet, declining from 1.47 million square feet in Q4FY23. It reported sales at ₹ 6,644 crore up 27.8% YoY for the end of FY24, and average realization at ₹ 10,922 per sq ft up 18.7% YoY and volume growth of 7.7% YoY at 5.6 mn sq ft.
Views: We highlight that sales momentum in Q4 has moderated as couple of launches were in last two weeks of March. Key will be how the momentum of sales continues in FY25 on this healthy base along with debt status.
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