Bengaluru-based listed real estate developer SOBHA Limited reported a 44 per cent year-on-year (YoY) jump in its net profit at Rs 21.7 crore for the quarter ended December 31, 2024.
The realtor witnessed a growth of 76.1 per cent YoY in its net revenue at Rs 1256.9 crore in Q3FY25, the company said in a regulatory filing on February 6. The company said that it plans to launch new projects in Greater Noida, Hosur and Mumbai.
The company’s real estate collections were at Rs 1062.7 crore up by 36 percent QoQ and 104 percent increase YoY. Net debt of the realty firm at the end of the quarter stood at Rs 456 crore, with net debt/equity Ratio now at 0.13, the company said.
Total collection in first nine months of the current financial year (9M FY25) was at Rs 4,399 crore, up by 2.4 percent YoY.
Sales and operational performance
Company’s quarterly sales value increased by 17.8% QoQ at Rs 1,389 crore. Sobha Limited sold new area of 1.02 million square foot (msf) across regions in Q3FY25, up by 9.3 percent QoQ, at an average price realisation of Rs 13,663 per sqft, the company said.
The company launched a total saleable area of 1.13 msf in Bangalore. In first 9MFY 25, Sobha launched 4.66 msf in six projects across four cities. It handed over 3.4 msf area in 9MFY25 and 1.81 msf in Q3FY25.
Jagadish Nangineni, Managing Director, SOBHA Limited said that the company’s financial and operational strength has significantly increased this year with the rights issue and improved visibility.
“We embark on entering three new cities – Greater Noida, Hosur and Mumbai in the next year, increasing our footprint to fifteen cities in the country. This reaffirms our commitment to delivering high-quality homes to a broader customer base while maintaining financial prudence,” he said.
Nangineni added that the company is poised for significant momentum with upcoming project launches.
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