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Sobha's new markets to decide fate after FY25 disappoints
Mint Kolkata
|April 10, 2025
On shaky ground
Southern India-focused real estate developer Sobha Ltd saw robust pre-sales or bookings of ₹1,835.7 crore in the March quarter (Q4FY25), up 22% year-on-year and 32% sequentially. The uptick was largely led by the launch of two new projects in its key market: Bengaluru.
Still, Q4's upbeat show could not save the realtor from missing its FY25 pre-sales guidance of ₹8,500 crore given when the year began. FY25 pre-sales fell 6% year-on-year to ₹6,277 crore. High-ticket launch conversion (Gurgaon and Crystal Meadows, Bengaluru) to sales has been slower, and few large launches were multi-phased, thus hurting the FY25 pre-sales trajectory, said HDFC Securities.
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