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Sobha Realty has reported a 43.77% increase in its net consolidated profit for the quarter ending December 31, 2024. The company's profit after tax rose to INR 21.68 crore in Q3 FY25 from INR 15.08 crore in the corresponding quarter of the previous fiscal. Its total consolidated income surged by 76.10% to INR 1,256.87 crore compared to INR 713.74 crore in the same quarter last year. Real estate collections saw a remarkable 104% year-on-year growth, reaching INR 10,627 million. Additionally, Sobha Realty introduced 1.13 million square feet of saleable area in Bangalore during the quarter and has outlined plans to expand into Greater Noida, Hosur, and Mumbai, increasing its presence to 15 cities.
Sobha Realty has reported a 43.77% growth in its net consolidated profit for the quarter ending December 31, 2024. The company's profit after tax stood at INR 21.68 crore in Q3 FY25, an increase from INR 15.08 crore recorded in the same quarter of the previous fiscal, as stated in its BSE filing. Advertisement
The company's net consolidated total income amounted to INR 1,256.87 crore in Q3 FY25, reflecting a substantial growth of 76.10% from INR 713.74 crore in the corresponding quarter of the previous year.
Jagadish Nangineni, Managing Director of Sobha Realty, mentioned that the company's financial and operational strength had significantly improved due to the rights issue and enhanced visibility. He highlighted plans to expand into three new cities-Greater Noida, Hosur, and Mumbai-over the next year, thereby increasing the company's presence to 15 cities across India.
Real estate collections for the quarter reached INR 10,627 million, marking a 104% year-on-year increase. The quarterly sales value was INR 13.89 billion, with an average price realisation of INR 13,663 per square foot. The company sold 1.02 million square feet of new area across regions in Q3 FY25.
As of the end of December 2024, Sobha Realty's net debt stood at INR 4.56 billion, with a net debt-to-equity ratio of 0.13.
Regarding project launches, Sobha Realty introduced 1.13 million square feet of saleable area in Bangalore during the quarter. Over the first nine months of FY25, the company launched 4.66 million square feet across six projects in four cities and handed over 3.4 million square feet of developed area.
Sobha Realty has demonstrated robust financial performance with significant growth in profits, revenue, and real estate collections. The company's strategic expansion into additional cities underscores its commitment to increasing its market presence. With new project launches, strong sales figures, and a disciplined approach to debt management, Sobha Realty is well-positioned for sustained growth.
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