Gurgaon Outshines In Q2 Results Of Sobha.
November 19, 2018
One of the most trusted realty brands, Sobha Limited, has recently achieved a huge surge in sales in the 2nd Quarter of FY 2018-19 in the Gurgaon market. The company has reported an overall increase of 22% in their consolidated net profit at Rs. 61.4 Crore from last year’s Rs. 50.3 Crore, with their Total Income rising from Rs. 657.8 Crore in last year’s second quarter to Rs. 676.2 Crore in this year’s corresponding quarter.
- Realty firm Sobha reported a 22 percent increase in its consolidated net profit at Rs. 61.4 Crore for the quarter ended September 2018
- The company’s net profit stood at Rs. 50.3 Crore in the year-ago period, it said in a regulatory filing
- Total income rose to Rs. 676.2 Crore in the second quarter of this fiscal from Rs. 657.8 Crore in the corresponding period of the previous year
J.C. Sharma, Vice Chairman and MD of Sobha Limited, in a statement to www.moneycontrol.com said, the company continued to maintain the growth momentum despite the impact of recent floods in the Kerala market.
“While Bengaluru, our principal market, has once again performed well, the second quarter sales volume of Gurugram market is the highest in the last 23 quarters,” he added.
It is important to note that one of the flagship projects of Sobha in NCR called Sobha City, located just off the Dwarka Expressway contributed substantially to the overall company’s performance, with unprecedented sale revenue in last 5 years. This spike in revenue may be attributed to the newly launched towers offering spacious 3 bedroom apartments with exceptional views of Delhi’s Reserved Greens & beautifully planned project amenities.
Mr. Sharma added in his statement that the demand across all markets and segments is improving steadily and the company expects to strengthen its performance further with new project launches across Bengaluru, Thrissur, Pune, and Kochi.
Please click here to read the full coverage about Sobha’s Q2 results –https://www.moneycontrol.com/news/business/markets/sobha-q2-profit-up-22-at-rs-61-4-cr-3145181.html/amp