Sobha net profit increases 9 pc to Rs 67 crore in Sept quarter

Realty firm Sobha Ltd on Friday reported a 9 per cent increase in its consolidated net profit to Rs 67 crore for the second quarter of the current financial year.

Its net profit had stood at Rs 61.4 crore in the year-ago period.

Total income rose to Rs 803.8 crore during the July-September period of the current fiscal year from Rs 676.2 crore a year ago, the Bengaluru-based firm said in a regulatory filing.

"Sobha has achieved pre-sales volume of 1.04 million sq ft valued at Rs 6.82 billion (Rs 682 crore) during the quarter. Total cash inflow for the quarter stands at Rs 8.40 billion (Rs 840 crore), which is up by 11 per cent as compared to Q2-19," said Sobha Vice-Chairman and Managing Director J C Sharma.

The company currently has ongoing real estate projects aggregating to 41.64 million sq ft of developable area and 28.79 million square feet of saleable area, and ongoing contractual projects aggregating to 8.61 million sq ft under various stages of construction.

As on September 30, the company has delivered overall 105.91 million sq ft of developable area.

The company has a real estate presence in 10 cities -- Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Gujarat (Gift City) and Mysore.