Sobha Ltd - Real Estate Operational Update - Q4 FY 2024-25

Indian economic fundamentals remained stable despite headwinds arising from global uncertainty in the final quarter of FY2025. The IMF and CRISIL project India to grow resiliently by 6.5% in FY 2026 as well. Office space absorption across major cities remained strong, recording a 15% y-o-y growth during January to March 2025, driven by sustained demand for Grade A offices. These indicators continue to support stable residential demand across India's top cities amid constrained supply. While domestic fundamentals remain strong, the emergence of global trade warfare introduces risks, the repercussions of which are expected to unfold over time.

SOBHA recorded a sales value of ₹62.77 billion in FY 2025, with a sold area of 4.68 million square feet and an average price of ₹13,412 per square foot. Bangalore contributed 58.0% and Gurgaon 19.9% to the total. Gurgaon achieved its highest ever annual sales of ₹12.49 billion, driven by the launch of two projects during the year. Kerala reported steady sales from existing inventory, contributing 13.3%, while Tamil Nadu registered ₹1.70 billion-an increase of 73.0% over the previous year-supported by two plotted development launches in FY 2025. Pune region witnessed improved traction following completion of one tower, while Hyderabad registered a growth of 21.1% over FY 2024.

In Q4 FY 2025, Sobha recorded a sales value of ₹18.36 billion, with 1.56 million square feet sold at an average price of ₹11,781 per square foot-up 32.2% over Q3 FY 2025 and 22.1% over Q4 FY 2024. Bangalore led with a sales value of ₹14.06 billion across 1.24 million square feet, contributing 76.6%, supported by two new launches. Other regions also performed well: Gurgaon rose 25.2% over the previous quarter; Kerala remained steady at ₹1.28 billion; Hyderabad added ₹418 million, up 44.7% over Q3 FY 2025 and 115.5% over Q4 FY 2024; and Tamil Nadu recorded ₹371 million, a 53.7% yearon-year increase.

Key Operational Highlights of FY25

- Total sales value of ₹62.77 billion
- Highest number of new launches: 8 projects comprising 8.76 mn sft across 4 cities
- Highest-ever average realization of ₹13,412 per square foot, an improvement of 22.8% over FY 2024

New launches in Q4 FY 2025

Two projects were launched during the quarter, with a total saleable area of 4.11 mn sft.

- SOBHA Madison Heights and SOBHA Hamptons, launched in SOBHA Town Park, offered a combined saleable area of 3.67 million square feet. Together, they comprised 13 wings and 2,104 apartments across 1, 2, 3, and 4-bedroom configurations, with sizes ranging from 754 to 2,846 square feet.

- Chartered Birdsong, a plotted development project launched under the Development Management model, is spread over 18.38 acres in Sadenahalli Village, Bangalore. It offers a saleable area of 0.44 mn sft.

The key operational highlights for the quarter ended March 31, 2025, are summarized below:


Shares of Sobha Limited was last trading in BSE at Rs. 1094.65 as compared to the previous close of Rs. 1192.50. The total number of shares traded during the day was 22914 in over 2760 trades.

The stock hit an intraday high of Rs. 1125.50 and intraday low of 1075.70. The net turnover during the day was Rs. 25078779.00.

Source : Equity Bulls

Keywords

Sobha INE671H01015 Realty RealEstate OperationalUpdate Q4FY2025