News Point: The company‚Äôs revenue also increased by 6% quarter-on-quarter during the said period and stood at Rs 700.4 crore.
Sobha Limited has reported a 6% quarter-on-quarter increase in its net profit during the Q3 FY18. Its profit after tax (PAT) increased from INR 50.3 crore in Q2 FY18 to INR 53.4 crore in the quarter ending December.
The company‚Äôs revenue also increased by 6% quarter-on-quarter during the said period and stood at INR 700.4 crore.
Interestingly, company‚Äôs revenue from real estate segment grew by mere 2% while its revenue from contractual and manufacturing increased by 25% during the quarter ending December.
Sobha has 48.54 million sq ft of developable area in progress, it said in a media release.
Highlights of Sobha results:¬†
Revenues at INR 7 billion on a consolidated basis
EBITDA of INR 1.46 billion; EBITDA margin improves at 20.7%
PBT at INR 825 million; PBT margin at 11.6%
PAT at INR 538 million; PAT margin at 7.7%
Revenue, PBT and PAT are up by 26%, 54% and 36% Y-o-Y respectively
Cash inflow of INR 6.74 billion
Net operational cash flow of INR 553 million
Average Cost of Borrowings at 9.74%
Registered new sales volume of 0.93 million square feet
Registered new sales value of INR 7.51 billion (SOBHA Share of INR 6.11 billion)
Achieved average price realisation of INR 8,045 per square feet (SOBHA Share of INR 6,541 per square feet)¬†
J.C. Sharma, Vice Chairman and Managing Director, Sobha Limited said, ‚ÄúWe are pleased to report that we have achieved highest ever revenue for the quarter and highest ever cumulative revenue for 9 months, backed by good operational performance across all categories and all regions. This reflects the confidence of buyers in the brand Sobha in post-RERA era. In a tough environment, Sobha has been able to achieve new sales volume of 933,365 square feet in total, valued at INR 7,509 million with an average realisation of INR 8,045 per square feet (Sobha‚Äôs share of sales value of INR 6,105 million with an average realisation of INR 6,541 per square feet) in the third quarter of the FY18. The sales volume and total sales value are up by 8.4% and 11.2% respectively as compared to preceding quarter. Additionally, the sales volume and total sales value have increased by 52% and 92% respectively as compared to Q3 FY17.‚ÄĚ
‚ÄúIt is heartening to note that Sobha has been voted as Number 1 choice of homebuyers nationally in Track2Realty‚Äôs Consumer Confidence Report 20:20. This report is one-of-its-kind of comprehensive study on consumer confidence and psychology about the Indian real estate market. This is the 4th consecutive year that Sobha has won top rank in the consumer confidence survey, making it an exceptional and a rare feat achieved by any real estate brand in the country,‚ÄĚ he added.¬†
Sobha‚Äôs superior execution capability is its core strength. Since inception, Sobha has completed about 88.93 million square feet of area.
The Company currently has ongoing real estate projects aggregating to 41.37 million square feet of developable area and 28.48 million square feet of saleable area, and ongoing contractual projects aggregating to 7.17 million square feet under various stages of construction.
The Company has a real estate presence in 9 cities, viz. Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Thrissur, Calicut, Cochin and Mysore. Overall, Sobha has footprint in 26 cities and 13 states across India.