Sobha : Sobha’s 2% Drop Post Q4 Update; Sales Momentum in Spotlight
The Sobha real estate developers reported Q4-FY 2024 is Rs.6644 Cr as annual sales value.The sales value is steady at the pace of Rs.1504 cr at the average price of Rs. 11,230per Sqft.
This company mostly engaged in Bangalore, Kerala and Gift City. The Sobha has surpassed 6 million sqft as new sale area in Q4 and reaching a annual value of Rs.6500Cr.
SOBHA Market Price is moving in box pattern and market has reached resistance area of the pattern
On April 5, the shares of Sobha experienced a decline of over 2 percent, despite the real estate developer reporting its highest-ever annual sales value of Rs 6,644 crore in the fourth quarter of FY24.
During the financial year, the company launched six residential projects and successfully completed sales for some of its flagship projects, including Sobha Dream Acres in Bangalore and Sobha City Gurgaon in the National Capital Region (NCR), as well as projects in GIFT City.
In a regulatory filing, Sobha disclosed that Q4FY24 marked a steady sales quarter, generating a value of Rs 1,504 crore at an average price realization of Rs 11,230 per square foot (sq ft).
Analysts at ICICI Securities noted a moderation in Sobha’s sales momentum in Q4, attributing it to the timing of a couple of project launches in the last two weeks of March. They emphasized the importance of monitoring the sales momentum in FY25 based on this strong foundation, alongside the company’s debt status.
Sobha achieved a significant milestone in Q4 by surpassing 6 million square feet of new sale area and achieving an annual sale value of Rs 6,500 crore.
The Bangalore region contributed 77.5 percent to the overall sales value for the quarter, driven by the performance of Sobha Neopolis, launched in Q3FY24. Additionally, the Kerala region witnessed a robust growth of 24.4 percent over the previous quarter and 75.3 percent year-on-year, supported by steady demand and new inventory releases.
Sobha also reported a continued momentum at GIFT City, leading to the sale of complete inventory across both projects during the quarter. Furthermore, the company launched four new projects with a total saleable area of 3.18 million square feet, with two projects launched in the last week of March.
Kalyan Jewellers: Kalyan Jewellers Shines with Robust Q4 Revenue Growth
The Kalyan Jewellers reported 34% revenue comes in the March Quarter 2024, Year on year 2023-2024 came at 31% revenue, Company growth 36% is higher than previous year. The Gold prices increasing in recent times and wedding anniversaries contributed the growth. The Middle East showrooms contributed 14% revenue on this share.
KALYAN JEWELLERS Market Price is moving in uptrend line and market has rebounded from the higher low area of the pattern
Shares of Kalyan Jewellers India witnessed a 3 percent increase in the opening trade on April 5 following the company’s announcement of robust revenue growth in the January-March quarter.
Investors reacted positively to the company’s steady sales growth, especially amidst a surge in gold prices. Kalyan Jewellers reported a remarkable 34 percent year-on-year growth in its consolidated revenue for the March quarter, propelled by a significant increase in footfalls ahead of the wedding season. The company also disclosed a 31 percent year-on-year growth in consolidated revenue for the financial year 2023-2024 in its business update.
In particular, the company’s India business experienced a substantial 38 percent year-on-year growth in Q4, driven by robust same-store sales growth, which marked the highest performance across all quarters in FY24. For the full fiscal year, the revenue of the India business witnessed a commendable growth of 36 percent compared to the previous year.
Kalyan Jewellers further expanded its footprint by adding 10 new ‘Kalyan’ showrooms in India, with nine operating under the franchise-owned-company-operated model. Additionally, in the Middle East, which contributes 14 percent to the company’s revenue, two new showrooms were inaugurated. Strong same-store sales growth in this region contributed to a 14 percent increase in revenue for the March quarter.
The company expressed optimism about the ongoing quarter, citing positive trends observed in advance collections for both Akshaya Tritiya and purchases related to weddings.
The NCDRC committee in India has dismissed the case of Nestle india compliant registered by Union of India consumer affairs and demanding Rs.355 cr for unhygienic food preparations from Nestle in 2015 as per Company said in the Exchange.
NESTLE Market Price is moving in Ascending channel and market has reached higher low area of the channel
On April 5, Nestle India’s shares witnessed a nearly one percent increase in the opening trade following the dismissal of a government petition against the company by the National Consumer Dispute Redressal Commission (NCDRC).
Nestle India confirmed in an exchange filing that the NCDRC had dismissed a plea filed by the Union of India, Department of Consumer Affairs, in 2015. The plea alleged that Nestle India had engaged in unfair trade practices by manufacturing and selling hazardous and defective goods to the public through its Maggi Noodles product line. The government sought compensation of Rs 284.55 crore and punitive damages of Rs 355.41 crore. However, the NCDRC ruled in favor of Nestle India, dismissing the complaint.
Don’t trade all the time, trade forex only at the confirmed trade setups
Get more confirmed trade signals at premium or supreme – click here to see, 2200%, 800% growth in Real Live USD trading account of our users – click here to see , or If you want to get FREE Trial signals, You can Join FREE Signals Now!
