Real estate player Sobha Limited has reported a 72.24 per cent rise in profits on a consolidated basis at ₹90.60 crore for the first quarter (Q1) of FY 2019-20 against ₹52.60 crore recorded in the same period last year.
The company’s income is also higher by 95.55 per cent at ₹1193.10 crore (₹610.10 crore). EPS for the quarter stood at ₹9.55 compared with ₹5.55 last year.
JC Sharma, Vice-Chairman and Managing Director, said, “The momentum gathered during FY18-19 continued in Q1 of FY20.
“This has helped the company to perform well on operational and financial parameters despite tough macro-economic and industry environment.”
He further said: “We remain focussed on execution of ongoing real estate and contractual projects and also achieved pre-sales volume of 1.06 million sq ft valued at ₹778 crore during the quarter. Total cash inflow for the quarter stands at ₹801 crore, which is up by 9 per cent as compared to Q1 of FY19.”
The company is also pursuing new opportunities in existing and new cities such as Hyderabad and Thiruvananthapuram.