Sobha Ltd. (SOBHA) achieved Q3FY23 gross sales bookings of 1.47msf worth Rs14.2bn vs. Isec estimate of Rs12.0bn and is the best ever quarter for the company in value terms for sales bookings. The Gurugram market which saw release of new inventory of 0.7msf was the key driver with volumes of 0.35msf and accounted for 24% of the quarter’s sales volumes.