Sobha Developers registered a 20 per cent increase in net profit to Rs 49 crore for the third quarter of 2010-11 as compared to the same period last year.
Turnover moved up by 17 per cent to Rs 364 crore. The company sold 705,031 sq ft and completed & handed over 10 projects measuring 2.54 million sq ft. It also launched three new projects and has planned to launch a total of 11 million sq ft in the near future.
J C Sharma, managing director, said: “While our sales have been on a constant rise, the price realisation has also increased from Rs 3,000 per sq ft to Rs 4,000 per sq ft. We have made sales of Rs 1000 crore in calendar 2010.” He said cash flow from operations was positive for the past few quarters.
