Sobha reported 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.
On the segmental front, Real Estate revenue was Rs 446.6 crore (down 4% YoY), Contractual & Manufacturing revenue was Rs 221.6 crore (up 1% YoY) and other income was Rs 20.6 crore (up 2.3x YoY) during the quarter.
EBIDTA was down 1% to Rs 135.9 crore in Q3 FY22 from Rs 159.8 crore in Q3 FY21. EBIDTA margin was 20% in Q3 FY22 as against 19% in Q3 FY21.
Debt Equity stood at 1.07 as on 31 December 2021 as compared to 1.13 as on 30 September 2021. JC Sharma, vice chairman and managing director, SOBHA, said, " Sabha has reported another good quarter and achieved sustained sales volume and sale value with improved price realization. Bengaluru, which is our primary market has shown outstanding sales performance during the quarter.
Gurugram, Pune and GIFT CITY have also performed well during the quarter and as a result for nine months they have already crossed sales volumes achieved during FY 20-21. The Kerala region sales performance was subdued due to sustained covid restrictions and impact of flood. We expect performance to improve in the coming quarters."
"During the quarter, cash flows remained healthy which has resulted in highest ever cash inflow achievement .This has helped the company to reduce debt by Rs 1.23 billion. Our average cost of borrowing has further come down to 8.65% as on 31 December 2021," he added.
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 scrip fell 1.80% to currently trade at Rs 835.70 on the BSE.
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