Sobha Ltd's Profit Surge: Real Estate Giant Expands Horizon

Sobha Ltd reported a 44% rise in net profit to Rs 21.68 crore for Q3 2024, up from Rs 15.08 crore in the previous year. Total income increased to Rs 1,256.87 crore. The firm plans to expand into Greater Noida, Hosur, and Mumbai, indicating growth in the real estate sector.

Sobha Ltd, a prominent realty firm, announced a substantial 44% increase in its consolidated net profit, reaching Rs 21.68 crore for the quarter ending December 31, 2024. This is a notable rise from the Rs 15.08 crore net profit recorded in the same period last year.

The company's total income witnessed a significant jump, escalating to Rs 1,256.87 crore in the third quarter of the current fiscal year. This marks a considerable improvement from the Rs 713.74 crore reported in the corresponding period of the previous year, according to a recent regulatory filing.

Managing Director Jagadish Nangineni emphasized the strengthening financial and operational stance of Sobha, credited to the rights issue and enhanced visibility. The company aims to further solidify its market position by entering new markets, including Greater Noida, Hosur, and Mumbai, reflecting its commitment to growth in the real estate sector.