Sobha Developers have been rated a buy by market tracker Edelweiss, the company’s has reported an increase of 11% q-o-q in new sales, for Q1FY18, which is the highest for the company since Q4FY15. Edelweiss is bullish on the stock, though says sales slow down in the future may be a risk. The company saw improved sales in Gurgaon and Banagalore projects, though didn’t launch any new projects in the current period.
In Q1FY18, Bangalore new sales accounted for 73% of Q1 sales, an increase of 16% q-o-q to 0.59msf driven by release of new inventory in Dream Acres. The company also saw sales pick up in Indraprastha project. Sobha Deveolpers sales in Gurgaon sales rose 27% q-o-q to 0.124msf which accounted for 78% of group housing sales. This was the highest sales since Q4FY13 for the company. The increase in sales was driven by the clarity on the completion of Dwarka Expressway. Post RERA implementation, Sobha has also offered refund to buyers of its Elanza project (Pune) that has been waiting for environmental clearance. Overall Edelweiss cautions that Sobha developers may see a slow down in sales in the second half of the year, though maintains a buy rating for the stock.
Nestled in the finest destination of Rajajinagar, Bangalore, Sobha Indraprastha by Sobha Developers is a brand new residential project that offers perfectly crafted homes filled with next-gen luxuries. Spread over 9.73 acres of prime land, the property offers 3 & 4 BHK super luxury apartments artistically accommodated into majestic buildings and spanning 1950 sq. ft. to 3994 sq. ft. The development offers stylishly-tailored amenities both inside-out that lets you enjoys a hassle-free living experience. The comfy living spaces are available in the price range of Rs 2.75 crores to Rs 5.82 crores. Comfortably located at Minerva Mills Compound, Rajajinagar, the property is 1 km away from Race Course Road and 3 kms from MG Road.
Another remarkable venture introduced by the same brand is Sobha Square slated to be developed at Yelahanka in Bangalore. It is a pre-launch project that aims to cater to the needs of those who want nothing but the best. Sprawling over 4 acres of land area, it shall comprise of 2 towers which will be 2B+G+17and 18 floors high. The towers will incorporate elegantly arranged 294 housing units of 3 BHK configurations covering 1560 sq. ft. to 1950 sq. ft. of area. Packed with top-notch amenities internally and externally the posh residential complex will offer a truly wonderful living experience. The elite living spaces shall be available at a splendid price range starting at Rs 98.28 lakhs and gradually moving up to Rs. 1.22 crores. Coming up at Kogilu Cross, Yelahanka, the property is a worth buy for residential or investment purposes.