 "Sobha Q2: PAT jumps to 75% to Rs 26.1 cr, net revenue grew 24% annually")
Bengaluru-based real estate major Sobha Limited reported a consolidated profit after tax (PAT) of Rs 26.1 crore in the second quarter of the financial year 2025 as compared to Rs 14.9 crore in the same period previous year. An increase of 75 per cent.
Moreover, the company’s total revenue grew to Rs 965.2 crore as against Rs 773.6 crore, up 24.77 per cent. Additionally, real estate collections stood at Rs 1222.7 crore. Debt reduction continued to decline with net debt / equity ratio now at 0.08.
Sobha reported Q2FY25 sales of Rs 1178 crore, with an average price realization of Rs 12,674 per square foot, up 24 per cent annually. The company sold 0.93 mn square feet across all regions. Kerala achieved its best-ever quarterly sales of 0.30 mn square feet (Rs 338.1 crore), while 0.48 mn square feet of saleable area was launched in Bangalore.
“Our Q2 FY25 performance reflects continued strength in our operations, fueled by our team’s efforts across functions and sustained demand in residential real estate. The geographical diversification of our project portfolio is paying rich dividends, with the ability to cater to demand across all our eleven operating cities,” said Jagadish Nangineni, Managing Director, SOBHA Limited.
“With solid financial strength of the company, post successful completion of rights issue, coupled with deep operational expertise & international brand recognition, we are effectively positioned to ride the growth wave. Our focus on delivering benchmark quality residences, construction products and services through our unique backward integrated operating model would continue to be our mainstay as we pursue scale,” added Nangineni.
Furthermore, Sobha has appointed Nisanth M N as Director designated as Deputy Managing Director of the Company, effective from. January 01, 2025, subject to the approval of Members of the Company.
On Friday, Sobha shares opened at Rs 1,540 apiece, down 0.75 per cent on the BSE.