SOBHA Limited
Extract of Real Estate Operational
Update - Q1 FY 2020-21
·
SOBHA posted its highest ever income, sales
volume and collections during FY-20 despite challenges thrown by COVID-19
during last fortnight of the fourth quarter.
· India's real estate sector has been hit hard by
the COVID-19 pandemic.
· Demand for both residential and commercial
property in India remains tentative and as a result new launches during the
quarter remain muted.
· While it will prompt the real estate sector to
go back to the drawing board, it also offers new avenues to explore innovations
and fast-track incorporation of new technologies, be it construction
technologies, home automation, loT or Al.
· The pandemic has opened a new era of selling
real estate. Going forward, developers are expected to be more focused on
digital strategies and reach out to the millennial that constitute the larger
part of buyers.
·
Priorities of people have also changed, and they
now have realized the importance of owning a home, especially the ones that can
guarantee safety and security.
·
Clocked 70% of sales volume during
Ql-21 as compared to Q4-20.
· Bengaluru is amongst the least impacted metros
from COVID-19 so far and has contributed 74% of sales volume during Ql-21 along
with other regions also contributing meaningfully.
·
With more and more companies opting for work
from home, inherent demand for better quality homes, low interest rates and
other benefits extended by government, demand is likely to sustain in the
coming quarters and organized players are expected to perform better.
· During the quarter, achieved sales volume of 650,400 square feet valued at Rs 4.88 billion,
with a total average realization of Rs. 7,498 per square feet.
Source: www.sobha.com
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| SOBHA V/S NIFTY REALTY |
