New Delhi, April 9 -- Southern India-focused real estate developer Sobha Ltd saw robust pre-sales or bookings of Rs.1,835.7 crore in the March quarter (Q4FY25), up 22% year-on-year and 32% sequentially. The uptick was largely led by the launch of two new projects in its key market: Bengaluru.

Still, Q4's upbeat show could not save the realtor from missing its FY25 pre-sales guidance of Rs.8,500 crore given when the year began. FY25 pre-sales fell 6% year-on-year to Rs.6,277 crore. High-ticket launch conversion (Gurgaon and Crystal Meadows, Bengaluru) to sales has been slower, and few large launches were multi-phased, thus hurting the FY25 pre-sales trajectory, said HDFC Securities.

Muted pre-sales and delayed approvals for new projects ...