Total sales volume stood at 1.39 million square feet in Q1 FY24, registering the growth of 2.6% from 1.35 million square feet recorded in Q1 FY23.

Average price realization increased by 24.6% to Rs 10,506 per square feet in Q1 FY24 from Rs 8,431 per square feet in Q1 FY23.

Sobha stated that Bangalore has contributed 54% to the total sale value, with improved price realization and product mix moving more towards luxury segment. Kerala region sales have witnessed significant improvement of 55% growth over previous quarter with release of new inventory in Marina One in Kochi and SOBHA Metropolis in Thrissur. NCR has continued to do well with an established market presence. Demand for GIFT City projects is on the rise with improved development and visibility.

Sobha is primarily focused on residential and contractual projects. Its residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes.

The real estate company reported a consolidated net profit of Rs 48.6 crore in Q4 FY23, steeply higher than Rs 14.2 crore posted in Q4 FY22. Net sales grew 70.34% year on year (YoY) to Rs 1,209.9 crore in the quarter ended 31 March 2023.