Sobha climbs 5% post Q1 sales numbers

Shares of Sobha Ltd climbed 5 per cent as investors cheered an 18 per cent surge in new sales volume the realtor reported for the June quarter. New sales volume of the Bangalore based real estate company jumped to 9,60,085 square feet in Q1FY19 over 8,15,230 square feet in Q1FY18. Bangalore region contributed 64 per cent of total sales volume during Q1FY19. The volumes in other locations increased by 56 per cent as compared to corresponding quarter of last year. Total sales value jumped by 22 per cent during the quarter under review, while Sobha’s share sale value increased 9 per cent year-on-year to Rs 611.8 crore in Q1FY19 against Rs 562.7 crore in the same quarter last year.