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Risk to Sobha's ambitious FY25 pre-sales guidance looms

Mint Mumbai

|

November 21, 2024

After a muted first half (H1FY25), South India-focused realty company Sobha Ltd is lagging on pre-sales and new launches.

- Harsha Jethmalani

After a muted first half (H1FY25), South India-focused realty company Sobha Ltd is lagging on pre-sales and new launches. In H1FY25, pre-sales or bookings slid 4% year-on-year to ₹3,050 crore, impacted by slower sales in recently launched projects. Even so, the management has retained its FY25 pre-sales guidance of ₹8,500 crore.

In H1FY25, Sobha launched five projects spread across 3.5 million sq. ft (msf). It targets to launch another 5.5 msf of projects in H2FY25. This should take yearly launches to around 9 msf across four projects in its core market of Bengaluru. In the next six to eight quarters, Sobha has a launch pipeline of 19.29 msf.

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