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Sobha Surges By 31 Per Cent As Per Q4 December Report

Sobha has earned a consolidated net profit INR 69.8 crore as per Q4 FY18
BY BEx Bureau
BusinessEx
Feb 08, 2019

Recently, Sobha, a Bengaluru-based company has released its Q4 December revenue. The companys report demonstrates there is a 31 per cent surge in total net profit. The current increased revenue amounts to be INR 69.8 crore.

During Q3 December, the companys had arisen to INR 807.7 crore from the earlier INR 700.4 crore. J C Sharma, Vice Chairman and MD of Sobha, said, Sobha has entered 2019 with a positive performance backed by world-class products, multi-city operations and its distinctive backward integration model. This has enabled us to deliver 7.78 million square feet of the developable area during the nine months of FY 18-19. Sharma further added, The launch of new project 'Sobha Isle' in Kochi has improved the sales in the Kerala market, which was impacted earlier due to the floods. (Source: ET news)

At the moment, the company is engaged in multiple real estate projects amounting to 39.09 million sq. feet of developing land and 27.23 million sq. feet land for sale. Besides this, the Bengaluru company has various contractual projects underway amounting to 8.89 million sq. feet that are under varying levels of construction.

Presently, the company has its real estate subsidiaries in nine Indian cities, that are, Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Calicut, Cochin and Mysore.

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