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Sobha Q2 profit up 22 pc at Rs 61.4 cr

Press Trust of India  |  New Delhi 

Realty firm Friday reported a 22 per cent increase in its consolidated net profit at Rs 61.4 crore for the quarter ended September.

The company's net profit stood at Rs 50.3 crore in the year-ago period, it said in a regulatory filing.

Total income rose to Rs 676.2 crore in the second quarter of this fiscal from Rs 657.8 crore in the corresponding period of the previous year.

J C Sharma, and MD, Sobha Ltd, said the company continued to maintain the growth momentum despite the impact of recent floods in the market.

"While Bengaluru, our principal market, has once again performed well, the second quarter sales volume of market is the highest in the last 23 quarters," he added.

said the demand across all markets and segments is improving steadily.

The company expects to strengthen its performance further with new project launches across Bengaluru, Thrissur, and Kochi, he added.

Since inception, Sobha has completed and contractual projects covering about 96.48 million square feet of area.

The company currently has ongoing aggregating to 39.64 million square feet of developable area and 27.09 million square feet of saleable area. It also has ongoing contractual projects aggregating to 8.59 million square feet.

The company has in nine cities -- Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Calicut, and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 19:05 IST