Shares of Sobha slumped more than 3 percent on October 8 after the company reported a muted business update for the September quarter.The realty major posted new area sales of 0.93 million square feet during Q2 generating sales worth Rs 1,179 crore at an average price realization of 12,674 per square foot, compared to 1.18 million square feet and sales of Rs 1,873 crore in Q1FY25.Sobha's total sal...

Here is the list of top 10 stocks that will be in focus on Friday: Banks and financials: Lenders will be in focus as the RBI will announce its decision on key interest rates on Friday. Analysts mostly expect the central bank to hold key rates but say it may change its accommodative stance.Mahindra & Mahindra: The carmaker said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co ...

Key takeaway: Sobha’s operating performance stayed strong in 3Q as evident in an Op. CF surplus driven net debt decline of 4% QoQ/11% YoY to a near 3-year low. Pre-sales performance was also good, driven by core Bangalore. Management is confident of accelerating new launch pace over next ~5 quarters to take advantage of the strong housing markets. We readjust our target multiple, driving PT lowe...

Real estate developer sales are likely to continue to be robust in the current year 2022, defying interest rate apprehensions. A potentially imminent turn in the interest rate cycle has caused edginess among investors, raising concerns of a fallout on recovery in housing demand. However, brokerage firm Edelweiss is bullish on the sector – it says that buoyancy in sales would sustain 2022 driven ...

Shares of Bengaluru-based real estate developer Sobha Ltd rose around 4% on the National Stock Exchange in opening deals on Monday after the company reported robust sales performance for the December quarter. In its operational update, the company said that including its share in joint development projects, it has achieved sales volume of 1.32 million square feet (msf), up 17% year-on-year (y-o-y)...