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Sobha Developers Ltd profits are 28.02 per cent lower at Rs 69.6 crore on a consolidated basis for the fourth quarter 2012-13.
The company’s revenues were 12.15 per cent higher at Rs 586.7 crore compared with the same period last year. EPS stood at Rs 7.10 against Rs 9.86 recorded last year.
During the last quarter of FY 2012-13, the company sold 1.07 million square feet of new space at a sales value of Rs 674 crore with an average price realisation of Rs 6,295 per square feet and launched 1.51 million square feet of new projects.
J.C. Sharma, Vice-Chairman and Managing Director, said: “Throughout fiscal 2013, we delivered to market a strong line-up of products and services which translated into double-digit revenue growth. Sales performance has been consistent and the entry into markets like Chennai and Gurgaon has spurred growth.”
Speaking about the contractual business, Sharma, said: “The contractual segment has grown by 20 per cent year-on-year on a consolidated basis.” As of today, Sobha has 10.65 million sq ft of contractual work with an order book value of Rs 534 crore, which is to be executed in the next two years.
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