Sobha slipped 5.32% to Rs 706.30 after the company announced that its director, vice chairman, managing director and key managerial personnel resigned from the office, citing personal reasons.
In an exchange filing, Sobha said, Jagdish Chandra Sharma vide his letter dated 11 March 2022, tendered his resignation for the position of director, vice chairman, managing director and key managerial personnel of the company with effect from 1 April 2022. He will hold the said position till 31 March 2022.Sobha is primarily focused on residential and contractual projects. Its residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes.
The company reported a 60% rise in consolidated net profit to Rs 33.2 crore on a 1% decline in total income to Rs 688.8 crore in Q3 FY22 over Q3 FY21.
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