Sobha's Q1 FY25 Results: Net Profit Drops 50% Despite Strong Housing Demand
Realty firm Sobha Ltd reports a 50% decline in net profit to Rs 6.05 crore in Q1 FY25, despite robust housing demand and strong sales performance.
Sobha LtdQ1 Fy25 ResultsNet ProfitHousing DemandReal Estate NewsReal Estate NewsAug 08, 2024
The company's net profit stood at Rs 12.05 crore in the corresponding period of the previous fiscal year. Total income also declined to Rs 669.85 crore during the April-June period of this fiscal year from Rs 939.24 crore a year ago.
According to Jagadish Nangineni, Managing Director at Sobha Ltd, the strong performance in Q1FY25 was supported by robust housing demand across all operational markets and a steady focus on efficient execution. This resulted in impressive sales, exceptional real estate collections, and the highest average price realization of Rs 15,941 per sq ft.
A significant portion of this price realization can be attributed to the company's shift in inventory mix towards luxury and super-luxury projects. With a healthy pipeline of 18.30 million sq ft of residential projects set to be launched in the coming quarters, Nangineni said the company anticipates further enhancement of its growth trajectory.
Additionally, the recently concluded rights issue will enhance the company's financial and operational strength, positioning it to capitalize on growth opportunities in India's vibrant economic environment and enter new markets.
Sobha is one of the leading real estate firms in the country, known for its high-quality residential and commercial projects.
Information
Sobha Ltd is a leading real estate developer in India, founded in 1995 by P.N.C. Menon. The company has developed over 100 million sq ft of residential and commercial space across 27 cities in India and the Middle East.
Sobha Ltd is a leading real estate firm in India, with a strong presence in the residential and commercial sectors. The company is known for its high-quality projects, efficient execution, and customer-centric approach.
Frequently Asked Questions
What was Sobha Ltd's net profit in Q1 FY25?
Sobha Ltd's net profit in Q1 FY25 was Rs 6.05 crore.
What was the decline in Sobha Ltd's net profit in Q1 FY25 compared to the previous year?
Sobha Ltd's net profit declined by 50% in Q1 FY25 compared to the previous year.
What was the total income of Sobha Ltd in Q1 FY25?
The total income of Sobha Ltd in Q1 FY25 was Rs 669.85 crore.
What is Sobha Ltd's pipeline of residential projects?
Sobha Ltd has a pipeline of 18.30 million sq ft of residential projects set to be launched in the coming quarters.
What is Sobha Ltd's average price realization per sq ft in Q1 FY25?
Sobha Ltd's average price realization per sq ft in Q1 FY25 was Rs 15,941.
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