Sobha Developers Ltd announced that its profit for the third quarter of this fiscal on standalone basis is up by 10.45 per cent to Rs 58.1 crore from Rs 52.6 crore reported in the corresponding period last year.
Revenues of the company in Q3 are also up 26.64 per cent to Rs 544.3 crore from Rs 429.8 crore shown in the corresponding period of the previous year. EPS of the company stood at Rs 5.50 as against 5.26 last year.
Commenting on the company’s performance, J C Sharma, Vice Chairman and Managing Director, Sobha Developers said, “Despite the prevailing economic headwinds the company’s unbilled revenue as of December 31, 2013 is Rs 2,264 crore on the sales made so far, out of which we expect a minimum of Rs 355 crore to be recognised in the last quarter (Q4) of FY 13-14. In addition to this, income from new sales will also contribute to the revenue.”