Sobha Ltd Soars with Sixfold Profit Surge

Sobha Ltd, a prominent real estate firm, announced a substantial leap in its consolidated net profit for the March quarter, showcasing a nearly sixfold increase to Rs 40.85 crore, significantly up from Rs 7.02 crore recorded the previous year. This growth is attributed to a surge in revenue and successful project initiatives.

The company's total income soared to Rs 1,270.73 crore during this period, a noteworthy rise from Rs 791.25 crore in the same quarter last year. Over the fiscal year 2024-25, the Bengaluru-based developer saw its net profit climb to Rs 94.68 crore, up from Rs 49.11 crore, with total income reaching Rs 4,162.75 crore from the prior year's Rs 3,217.88 crore.

Jagadish Nangineni, Sobha's Managing Director, highlighted the company's steady progress in the fourth quarter, citing strong sales, launched projects, and stable revenue and cash flow as key contributors. The firm's financial stability has been bolstered by a recent Rights Issue, allowing Sobha to focus on its expansion and execution strategy, with plans to tap into new urban markets.

(With inputs from agencies.)