Real estate company Sobha saw a good quarter on a year on year (YoY) basis due to a base effect but sequentially it was a flat quarter. In an interview with CNBC-TV18, JC Sharma, Vice Chairman and MD of Sobha spoke about the results and his outlook for the company.
The Company will be one of the beneficiaries of the goods and services tax (GST) transition, said JC Sharma, Vice Chairman & MD, Sobha.
In an interview to CNBC-TV18, JC Sharma, Vice Chairman and MD, Sobha gave an update as to how business is panning out in Q2 so far and to share with us what real estate demand is looking like and how prices are panning out.
Sobha posted a good operational performance as expected in Q1 with positive cash flow and a strong income statement. In an interview to CNBC-TV18, JC Sharma, VC & MD of Sobha discussed the company's Q1 performance.
The man known for spotting small, midcap stocks at the right time says more than two dozen themes are yet to be explored.
In an interview to CNBC-TV18, JC Sharma, VC & MD of Sobha spoke about the latest happenings in his company and sector.
Speaking to CNBC-TV18, JC Sharma, VC and MD of Sobha said that the company saw an impact on operational performance due to demonetisation.
JC Sharma, Vice Chairman & MD, Sobha said the number of enquiries and site visits have remained stable even post demonetisation but people have deferred their bookings and decisions because of uncertainty.
Despite signs of slowdown in Delhi-NCR's realty space, JC Sharma, the VC & MD of Sobha Developers said that the demand seems to be picking up.
With declining interest rates, overall volumes in the realty sector will increase, making the second half of the year better for the sector, says JC Sharma, VC and MD of Sobha Developers Limited.
Adhidev Chattopadhyay, Real Estate Analyst at Elara Capital likes Oberoi Realty, Godrej Projects from Mumbai and Sobha Developers, Prestige and Brigade Enterprises from Bangaluru.
The net profit fell by 46.6 percent to Rs 32.1 crore and revenue saw a dip of 41.7 percent to Rs 399 crore on a year-on-year basis.
JC Sharma, VC and MD, Sobha Developers says the company may not meet its sales value target due to slowdown in Chennai and Bangalore markets.
The company has done about 700,000 square feet out of 844,000 sq ft of new sales in the Bangalore alone in the last quarter, said J C Sharma, Vice Chairman & MD, Sobha.
There has been a dip in demand for the high-end housing but has been compensated by demand for lower-priced or small-sized products, said JC Sharma, Vice Chairman & Managing Director of Sobha.
JC Sharma, MD, Sobha Developers, says the first phase of the project is already underway and is expected to finish within seven years.
The demand for residential segment was muted in all markets except Bangalore. However, operational data in Q4 improved year-on-year and quarter-on-quarter.
JC Sharma, vice-chairman and managing director of Sobha Developers, believes the next quarter will be better than the last one.
The company‘s Q3 EBITDA rose 8.8 percent to Rs 149 crore, but its operating profit margin fell 460 basis points to 27.4 percent on higher expenses year-on-year. Sharma, however, is bullish on margins coming around 28 percent in the next few quarters.
Sobha Developers is likely to miss its FY14 guidance of 4.2 million square feet in sales and volumes of Rs 2,600 crore, Vice Chairman and Managing Director JC Sharma told CNBC-TV18. He, however, said he did not expect the sales weakness to continue into next year.
Sobha Developers plans to enter markets like Kochin, Bangalore, Trichur, Chennai in the coming 2-3 months, JC Sharma.
In an interview to CNBC-TV18, JC Sharma, Vice Chairman & MD of Sobha Developers informed that the NRI interest in the Indian real estate has been growing significantly.
JC Sharma, vice-chairman & MD, Sobha Developers, says that once the interest rates start declining, there will be a positive impact on the real estate sector.
In an interview with CNBC-TV18, JC Sharma, VC of Sobha Developers said the company is hopeful about sustaining the current margins and maintains its sales guidance of Rs 2,000 crore for FY13.
Sobha Developers has revealed its sales figures for Q1 and the company has posted a very good performance with a 26% increase in land sales year-on-year (YoY), with the figure standing at 840,000 sq ft. The value of revenues made in Q1 is up 58% YoY at Rs 480 crore.