Sobha Q1 net rises marginally to Rs 35.9 cr

Realty firm Sobha today reported a marginal rise in consolidated net profit at Rs 35.9 crore for the quarter ended June.
Its net profit stood at Rs 35.2 crore in the year-ago period, the Bengaluru-based firm said in a regulatory filing.
Total income rose to Rs 578.2 crore in the first quarter of this fiscal from Rs 463.9 crore in the corresponding period of the previous year.
Total expenditure increased to Rs 485.8 crore from Rs 363.2 crore earlier.
Sobha Vice Chairman and MD JC Sharma said: "During the first quarter of fiscal 2017, the company achieved new sales of 8,09,249 sq ft, with Sobha's share of sale value at Rs 4.70 billion with an average realisation of Rs 5,806 per sq ft."

"The new sales were initially subdued but gained momentum as the quarter progressed. In Q1 FY17, the company formally launched 'Sobha City' in Gurgaon with total saleable area of 3.24 million square feet," he added.