Sobha Developers has sold property worth Rs 1,540 crore during first nine months of this fiscal, a growth of 24.49% as compared to Rs 1,237 crore in the year-ago period on increase in volumes as well as realisation.
In volume terms, the company sold 2.68 million sq ft of new space during April-December period, as against 2.42 million sq ft in the corresponding period of previous year. Average sales realisation also improved by 12% at Rs 5,738 per sq ft against Rs 5,110 a sq ft during the period under review.
Recently, the company, on consolidated basis, posted growth of 6.05% in its net profit at Rs 5.26 crore for the third quarter as compared to Rs 4.94 crore for the same quarter in the previous year. Total income of the company increased by 37.40% at Rs 429.80 crore for quarter under review as compared to Rs 312.80 crore for the quarter ended December 31, 2011.
Sobha has presence in seven cities -- Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Mysore and Thrissur. It has completed 83 projects aggregating to 20.78 million sq ft of saleable area and is presently developing 43 projects with 17.4 million sq ft of saleable area.
