Mumbai-based Anamudi Real Estates LLP (AREL) purchased an additional 2.99 lakh equity shares, or 0.32% stake, of Sobha via open market on 22 April 2020.
Following the transaction, AREL's stake in Sobha has increased to 5.19% from 4.87% held earlier. Sobha made the disclosure on Saturday, 25 April 2020.
AREL is 100% owned by the Godrej family who runs a large diversified Indian conglomerate.
On a consolidated basis, Sobha's net profit advanced 4.87% to Rs 73.20 crore on a 12.10% jump in net sales to Rs 883.20 crore in Q3 December 2019 over Q3 December 2018.
Sobha is a real estate brand in India. It has made several developments in Bangalore, Kerela, Delhi - NCR, Chennai, Coimbatore, Mysore and Pune.
Shares of Sobha hit a lower circuit limit of 5% to end at Rs 203.10 on Friday, 24 April.
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