Sobha profit jumps nearly 6-fold to Rs 41 cr in March quarter

Bengaluru, May 29 (PTI) Realty firm Sobha Ltd on Thursday reported a nearly six times jump in its consolidated net profit to Rs 40.85 crore in the March quarter on higher revenue.

Its net profit stood at Rs 7.02 crore in the year-ago period.

Total income rose to Rs 1,270.73 crore in the fourth quarter of the last fiscal from Rs 791.25 crore in the corresponding period of the preceding year, according to a regulatory filing.

During 2024-25 fiscal, Bengaluru-based Sobha Ltd net profit surged to Rs 94.68 crore from Rs 49.11 crore in the preceding year.

Total income increased to Rs 4,162.75 crore last fiscal from Rs 3,217.88 crore in the 2023-24 fiscal.

Jagadish Nangineni, Managing Director of Sobha, said, "The fourth quarter of 2024-25 reflected steady and encouraging progress for Sobha, supported by strong sales, successful project launches, solid revenue growth, and healthy cash inflows." The Rights Issue has further strengthened the company's financial position, enabling it to stay focused on execution and expansion, he added.

"With the real estate sector continuing to perform well, we see strong potential in the year ahead. The current financial year looks promising, with a robust pipeline of project launches and our planned entry into new cities," Nangineni said.

Founded in 1995, Sobha has delivered over 143.65 million square feet of developable area across 27 Indian cities. PTI MJH MJH SHW