Bengaluru-based listed real estate player Sobha Ltd's consolidated net profit plunged 50 percent YoY to Rs 6.06 crore in the first quarter of FY25, from Rs 12.05 crore year ago, according to a regulatory filing on August 8.
The company posted a revenue of Rs 669 crore in Q1 from Rs 901 crore in Q1 of FY24. Collections from homebuyers went up by 14 percent to Rs 1,546 crore, the filing added.
Its quarterly sales stood at Rs 1,874 crore, up 28 percent YoY, Sobha said. "Gurgaon contributed 45.5 percent to the total sales value, followed by Bangalore contributing 33.5 percent to the total sales value in Q1-25. Kerala saw year-on-year growth of 5.8 percent," it added.
The average price realization stood at Rs 15,941 per sq ft. The company sold 562 units with a total saleable area of 1.17 million sq ft across all regions in Q1 FY25.
Sobha launched four new residential projects with a total saleable area of 3.04 million sq ft.
The company's debt reduction continued for 15 consecutive quarters with a debt-equity ratio of 0.47.
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