Sobha shares surge after company posts record sales bookings in FY21

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Sobha shares surge after company posts record sales bookings in FY21


NEW DELHI: Shares of realty firm Sobha Ltd jumped nearly 9 per cent in morning trade on Tuesday after the company reported record sales bookings during the last fiscal year despite the COVID-19 pandemic.

The stock gained 8.39 per cent to Rs 466.05 on the BSE.

At the NSE, shares of the company jumped 8.72 per cent to Rs 468.95.

Sobha Ltd on Monday reported record sales bookings of Rs 3,137 crore during the last fiscal year despite the COVID-19 pandemic.

Its sales bookings stood at Rs 2,880.6 crore in the 2019-20 financial year.

“We have achieved a total sales volume of 40,13,381 square feet valued at Rs 31.37 billion. Total sales value achieved during FY20-21 is the highest ever in the history of the company,” the Bengaluru-based firm said in a regulatory filing.

The company achieved 9 per cent higher sales in value terms and 10 per cent higher average price realization as compared to FY 2019-20.



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