Sobha Ltd, a real-estate major based out of Bengaluru reported a consolidated profit after tax of ₹26.1 crore for the quarter ended on 30 September, up by 74 per cent year-on-year (y-o-y), from ₹14.95 crore in Q224.
The net revenue stood at ₹965.3 crore, reflecting a 44 per cent increase quarter-on-quarter (q-o-q) and a 25 per cent rise y-o-y from ₹773.64 crore. Collections from real estate amounted to ₹1,222.7 crore.
Commenting on the quarterly performance, Mr. Jagadish Nangineni, Managing Director, SOBHA Ltd said, “The geographical diversification of our project portfolio is paying rich dividends, with the ability to cater to demand across all our eleven operating cities. With the solid financial strength of the company, post successful completion of the rights issue, coupled with deep operational expertise and international brand recognition, we are effectively positioned to ride the growth wave.”
The real estate player reported its highest quarterly sales of 0.30 million square feet (mnsft), valued at ₹338.1 crore, in Kerala. Additionally, the total quarterly sales value reached ₹1,178 crore. The average price realisation was at ₹12,674 per square foot, reflecting a 24 per cent y-o-y increase. The company sold a total of 0.93 msft of new area across all regions in Q2FY25. Additionally, it launched a total saleable area of 0.48 mnsft, in Bangalore.
The shares closed at ₹1,533.95, down by 0.75 per cent on the BSE.