Bengaluru-based real estate company Sobha Ltd reported a profit of ₹15.08 crore for the quarter ended December 2023, marking a y-o-y decrease of 52.5 per cent compared with ₹31.8 crore for the same quarter last year.
Its revenue from operations reduced 21 per cent to ₹684.93 crore (₹868.16 crore).
On a sequential basis, revenue from operations decreased 7.6 per cent from ₹741.23 crore in Q2.
Jagadish Nangineni, Managing Director, Sobha Ltd, said, “In Q3, Sobha achieved its highest-ever sales value and realisation, driven by robust housing demand and the successful launch of Sobha Neopolis in Bengaluru. Our focus on cash flow and disciplined capital allocation strengthens our financial and operational capabilities while expanding our inventory for growth.”
The company’s expenses were lower by 19.7 per cent to ₹692.38 crore (₹862.85 crore).
On a sequential basis, expenses increased 7.5 per cent from ₹748.97 crore in Q2.