Sobha Q1 Update: Sales bookings hit record ₹3,656 crore, up 76% YoY

Realty firm Sobha Ltd on Friday (July 3) reported its highest-ever quarterly sales bookings for the first quarter of FY27, with total sales value rising 76% year-on-year to ₹3,656 crore, driven by strong demand for newly launched projects in Bengaluru and Gurgaon.

The real estate developer sold 23.35 lakh square feet during the quarter, up 62% from a year earlier, while the number of homes and plots sold increased 78% to 1,432. The company's share of sales value also reached a record ₹2,992 crore, compared with ₹1,717 crore in the year-ago period.

Average realisation increased to ₹15,655 per sq ft in Q1 FY27 from ₹14,395 per sq ft a year earlier. Sobha said the quarter's performance was led by strong demand for Sobha OneWorld, Sacred Grove by the Lake in Bengaluru and Sobha Crescent in Gurgaon.

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Bengaluru contributed ₹2,067 crore, or 56.5% of total sales, recording its strongest-ever quarterly sales performance. The NCR region contributed ₹1,384 crore, accounting for 37.9% of total sales, while Kerala contributed ₹134 crore (3.7%). Other cities contributed ₹71 crore, or 1.9% of sales.

During the quarter, the company launched 68.9 lakh square feet of saleable area across three projects in Bengaluru and Gurgaon. These included Sobha Crescent – Phase 1, an 11.99-acre luxury residential development in Sector 63A, Gurgaon, comprising 336 homes across 8.7 lakh square feet with an estimated sales potential of ₹2,200 crore.

The company also launched Sacred Grove by the Lake, a 26-acre premium plotted development at Chikka Tirupathi, Bengaluru, comprising 388 plots with a total saleable area of 6.3 lakh square feet.

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In East Bengaluru, Sobha launched Sobha OneWorld, a 47.4-acre luxury residential project comprising 3,484 homes across 53.9 lakh square feet, with an estimated sales potential of more than ₹7,500 crore. The initial phase includes 2,249 homes across 34.3 lakh square feet.

During the quarter, the company completed 671 homes across eight projects, covering a total saleable area of 10.8 lakh square feet. Shares of Sobha Ltd ended at ₹1,440.75, up by ₹4.40, or 0.31%, on the BSE.

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