Sobha Developers

Sobha Ltd Q2 results: Net profit up 75% to Rs 26 cr, income at Rs 965 cr

Realty firm Sobha Ltd has posted a 75 per cent increase in consolidated net profit of Rs 26.08 crore for the September quarter. Its net profit stood at Rs 14.94 crore in the year-ago period. Total income rose to Rs 965.29 crore in the second quarter of the ongoing fiscal year from Rs 773.6 crore in the year-ago period, the company said in a regulatory filing on Thursday. Sobha Ltd Managing Director Jagadish Nangineni said, "Our Q2, FY25 performance reflects continued strength in our operations, fuelled by our teams 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." With solid financial strength of the company, post successful completion of rights issue, coupled with deep operational expertise and international brand recognition, the company is effectively positioned to ride the growth wave, he ...

Sobha Q2 sales bookings fall 32% to Rs 1,178 cr despite strong demand

Realty firm Sobha Ltd has posted a 32 per cent decline in its sale bookings to Rs 1,178.5 crore during July-September quarter despite strong housing demand. In a regulatory filing on Monday, Bengaluru-based Sobha Ltd informed that its sale bookings stood at Rs 1,178.5 crore in the second quarter of this fiscal as against Rs 1,723.8 crore in the year-ago period. "In Q2-FY25, we sold new area of 0.93 million square feet with sales value of Rs 11.79 billion at an average price realization of Rs 12,674 per square feet," the company said. In terms of volume, the sale bookings fell to 9,29,907 square feet during July- September 2024 from 16,86,196 square feet in the year-ago period. During the first six months of this fiscal, Sobha Ltd sold properties worth Rs 3,052.2 crore as against Rs 3,188.5 crore in the corresponding period of the preceding year. The company sold 21,05,268 square feet in April-September period of this fiscal as against 30,80,313 square feet in the corresponding per

Sobha zooms 5% after Q1FY25 results; overall sales value jumps 28% YoY

The surge in Sobha share price came after the real estate developer's overall sales value rose 28% Y-o-Y to Rs 1,874 crore. Sequentially, the overall sales grew 24.6%, compared to Q4FY24

Sobha Ltd Q1 results: Net profit sinks 50% to Rs 6.06 cr on lower sales

The April-June period saw delays in approvals for real estate projects amidst general elections in the country, resulting in fewer launches and a slowdown in sales

Godrej Industries Group's family office divests 4.4% stake in Sobha

Godrej Industries Group's family office arm Anamudi Real Estates LLP on Friday divested a 4.4 per cent stake in realty firm Sobha Ltd for Rs 858 crore via open market transactions. According to the exchange data, Anamudi Real Estates LLP offloaded 47.37 lakh shares, amounting to a 4.43 per cent stake in Sobha Ltd. Shares were disposed of at an average price of Rs 1,810.44 apiece, taking the transaction value to Rs 857.70 crore. After the stake sale, Anamudi Real Estates' shareholding in Bengaluru-based Sobha declined to 5.57 per cent from 9.99 per cent. Meanwhile, Mirae Asset Mutual Fund (MF), Invesco MF and Aditya Birla Sun Life MF acquired 23.09 lakh shares of Sobha. Shares were acquired in the range of Rs 1,809.82-1,810.05 apiece, taking the combined transaction value to Rs 418.06 crore. Details of other buyers could not be ascertained. Sources said the Godrej Industries Group family office has sold shares in Sobha Ltd at a 10-times multiple of the original investments, inclu

Real-estate firm Sobha Ltd gets Rs 46 cr income tax demand notices

Realty firm Sobha Ltd has received demand notices of nearly Rs 46 crore from Income Tax Department. The notices were issued by Deputy Commissioner of Income Tax, Central Circle- 1(4), Bengaluru. The notices are related to Assessment Year ( AY) 2016-17 and 2022-23. In a regulatory filing on Monday, Sobha informed that the "company has received demand notices under section 156 of the Income Tax Act, 1961 for Rs 13.12 crore and Rs 32.68 crore related to AY 2016-17 and AY 2022-23 respectively, due to disallowances of certain expenses and other additions." Sobha said it is in the process of filing an appeal before the Commissioner of Income Tax (Appeals), against the said orders within the prescribed timelines. "The company has legal and factual grounds to substantiate its case. The company is in the process of evaluating the implications of these orders on the financial statements," Sobha said. There is no impact on operations or other activities, it added. Bengaluru-based Sobha Ltd

Sobha Q3 sales bookings up 37% at Rs 1,952 cr on strong housing demand

Realty firm Sobha Ltd has reported a 37 per cent increase in sales bookings at Rs 1,951.6 crore in the third quarter of this financial year, mainly on the back of strong housing demand in Bengaluru. Its sales bookings stood at Rs 1,424.7 crore in the year-ago period. "The Q3 (third quarter) of this financial year has been the best-ever sales quarter for Sobha," the company said in a regulatory filing late on Thursday. The average price realization improved to Rs 11,732 per square feet during the third quarter of this fiscal year, from Rs 9,653 per square feet in the year-ago period. Sales bookings in volume terms also increased to 16.63 lakh square feet, from 14.76 lakh square feet during the period under review. "Bengaluru has achieved its highest ever quarterly sales of 1.25 million square feet with a value of Rs 14.99 billion, led by the successful launch of the Sobha Neopolis project in the beginning of the quarter," the company said. Sobha highlighted that the Delhi-NCR regi

Real estate developer Sobha posts Q2 profit fall on higher expenses

Analysts, however, flagged muted launches by regional developers, including Sobha peers Prestige Estate Projects and Brigade Enterprises

Sobha Group founder pledges Rs 1,000 cr for Sabarmati development in Guj

Realty firm Sobha Group on Tuesday said its founder PNC Menon has pledged Rs 1,000 crore as philanthropic contribution towards development of Sabarmati Riverfront in Ahmedabad, Gujarat. A Memorandum of Understanding (MoU) in this regard was signed in the presence of Gujarat Chief Minister Bhupendra Patel, according to a statement on Tuesday. "Menon's philanthropic commitment of Rs 1,000 crore over the next five years towards Sabarmati Riverfront development, is in line with his earlier commitment to donate 50 per cent of his personal wealth to causes that help communities and foster all round development and progress in the country, reflecting his continued and unwavering dedication to giving back to the community," the statement said. In May 1997, the Ahmedabad Municipal Corporation (AMC) formed a Special Purpose Vehicle (SPV)- Sabarmati Riverfront Development Corporation Ltd (SRFDCL). SRFDCL was entrusted with the responsibility of turning the riverfront into a major urban asset f

Sobha slips 5%, nears 52-week low on raid by Income-Tax department

Sobha announced that a search by the Income Tax Department is being carried out at the registered office and other premises of the company

DLF, Macrotech Developers: Realty stocks remain resilient amid sell-off

Since the start of the current year, the Nifty Realty pack has remained laggard and traded with a weak bias down 1.5 cent lower so far in 2023.

Sobha Q3 sales bookings up 36% to Rs 1,425 cr on strong revival in demand

Bengaluru-based realty firm Sobha Ltd on Friday reported a 36 per cent growth in its sales bookings to Rs 1,424.7 crore for the quarter ended December 2022 on strong revival in demand. In a regulatory filing, Sobha Ltd informed that its sales bookings stood at Rs 1,047.5 crore in the year-ago period. Sobha Ltd achieved highest-ever quarterly sales bookings in the December quarter in terms of both volume and value. The average price realisation improved to Rs 9,650 per square feet, up 21.9 per cent from the corresponding quarter of last year. Achieved highest-ever quarterly sales volume of 1.47 million square feet, with an increase of 11.6 per cent compared to the previous year. During April-December period of this fiscal, Sobha Ltd's sales bookings rose to Rs 3,734.4 crore from Rs 2,760.6 crore a year ago. In the first nine months of this fiscal, the company achieved total sale of 4.17 million square feet, an increase of 16.9 per cent over the preceding year. The average price .

Sobha's Q3 net rises 57% to Rs 33 cr, revenue dips 2% to Rs 668 cr

The company achieved total cash inflow of Rs 1,059 crore during Q3 of FY22 which is the highest in its lifetime

Sobha soars 11% on fund raising plan; stock has zoomed 226% in one year

The board is scheduled to meet on Monday, November 8, 2021 to consider and approve the proposal of issue of unlisted secured redeemable non-convertible debentures on a private placement basis

Stocks to watch: RIL, ZEEL, Sobha, Lupin, Nazar Tech, Titan, Inox Wind

Tata group firm Titan on Wednesday said it has witnessed a strong recovery in demand in the July-September quarter

Sobha Q1 sales bookings up 40% at Rs 683 cr despite 2nd Covid wave

The company had clocked sales bookings of Rs 487.7 crore in the year-ago period.

Demand recovery, new launches help Sobha deliver record performance

Stock gains 16 per cent on Q4 show, expectations of sharp reduction in debt

Karnataka stamp duty cut on flats to have limited impact on sales

Listed players such as Brigade, Sobha, Puravankara seek reduction across all budget segments

Godrej Properties to Sobha, realty firms line up launches in March quarter

Godrej Properties, part of Godrej Group, has lined up 12 launches in Mumbai, the National Capital Region, and Bengaluru

From Prestige to Sobha, listed realty firms post best-ever quarterly sales

During the quarter, Prestige racked up sales of Rs 2,026 crore, up 80 per cent quarter-on-quarter and 55 per cent year-on-year