Sobha Q3 profit up 5 pc at Rs 73 cr

Realty firm Sobha Ltd has reported a 5 percent increase in its consolidated net profit at Rs 73.2 crore for the quarter ended December compared to Rs 69.8 crore in the year-ago period. Total income rose to Rs 901.2 crore in the third quarter of this fiscal from Rs 807.7 crore in the corresponding period of the previous year, the company said in a regulatory filing.

JC Sharma, Vice Chairman and Managing Director, Sobha Ltd, said: “We are poised to launch real estate projects to the tune of 13.64 million square feet in the coming quarters along with 0.44 million square feet of commercial projects in Bengaluru, which will help us to post better performance in the coming quarters." Bengaluru-based Sobha has ongoing real estate projects of 40.94 million square feet of developable area and 28.34 million square feet of saleable area. It also has ongoing contractual projects aggregating to 10.51 million square feet under various stages of construction.

Sobha has so far delivered overall 106.80 million square feet of developable area. The company has real estate presence in 10 cities, viz. Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Gujarat (Gift City) and Mysore.

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