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Sobha Limited’s profit on a consolidated basis for the third quarter of 2014-15 is higher by 3.44 per cent to ₹60.1 crore compared with ₹58.1 crore recorded in the same period last year.
The company’s income from operations is higher by 25.73 per cent to ₹682.6 crore as against ₹542.9 crore in the same period last year.
EPS for Q3 stood at ₹6.13 compared with ₹5.92 last year.
Commenting on the company’s performance, JC Sharma, Vice Chairman and Managing Director, Sobha Limited, said, “Our financial performance has been satisfactory but our operational performance did not live up to our expectations. We anticipated the economy to show improvement and the demand to revive post formation of the new government, but in reality, the market conditions were not as favourable as we had expected.”
“For Sobha, Bangalore continues to hold the fort, exhibiting resilience and accounting for majority of the new sales. Delayed project approvals have affected the saleability of our projects in the other regions,” he added.
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