Sobha Q3 profit up 64% at Rs 53.4 cr

Realty firm Sobha today reported 64 per cent rise in consolidated net profit to Rs 53.4 crore for the December quarter of the current fiscal.
Its net profit stood at Rs 32.6 crore in the October- December period of last fiscal, 2016-17, the company said in a regulatory filing.
Its total income increased to Rs 700.4 crore in the third quarter of the current fiscal, 2017-18, from Rs 554.4 crore during the year-ago period, the Bengaluru-based firm said.
Sobha Ltd's Vice Chairman and Managing Director J C Sharma said: "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."

In a tough environment, Sobha said it has achieved new sales volume of 933,365 square feet in total, valued at Rs 750.9 crore with an average realisation of Rs 8,045 per square feet.