Sobha said all its offices and manufacturing units will remain shut till 3 May 2020.
In compliance with the government extending the lockdown until 3 May 2020, all the offices and manufacturing units of the company will remain closed during this period. The company will however review the situation and take appropriate decision depending on the relaxations if any announced by the government, Sobha said in a release after trading hours yesterday, 15 April 2020.On a consolidated basis, the firm's net profit advanced 4.87% to Rs 73.20 crore on a 12.10% jump in net sales to Rs 883.20 crore in Q3 December 2019 over Q3 December 2018.
Sobha is a real estate brand in India. It has made several developments in Bangalore, Kerela, Delhi - NCR, Chennai, Coimbatore, Mysore and Pune.
Shares of Sobha hit an upper circuit of 5% at Rs 203.25. The stock has risen 21.48% in four consecutive trading sessions from its recent closing low of Rs 167.30 on Wednesday, 8 April 2020.
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