Key Highlights of Real Estate Operational Update

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

SOBHA V/S NIFTY REALTY