Is it true that Sobha has reported sold growth in revenue offtake?

If you go by what Sobha Ltd has been saying about the demand scenario in June, it looks like good news. There seems to be positive tidings on the real estate front from the Bengaluru-based Sobha, a mid-range realty developer. In fact, Sobha Ltd saw bookings rise by 40% to Rs.683 crore during the Jun-21 quarter and the good part is that this was largely on the back of better demand traction coming from retail buyers.

During this 3 month period, Sobha achieved total sales volume of 895,539 SFT of super build-up area, which is nearly 40% higher on a yoy basis when compared to the corresponding period last year. While Bengaluru recorded smart volume growth of 37% in Jun-21 quarter, cities like Kochi, Thrissur, Pune and Gurugram also delivered. Sobha has aggressive plans to launch nearly 13.35 million SFT to capture post-COVID demand.