SOBHA’s net profit grew by 22.1% for Q2 FY19

SOBHA’s net profit grew by 22.1% for Q2 FY19
10/11/2018 , by , in News/Views

Real estate developer SOBHA net profit grew robustly by 22.1% to Rs 61.4 crore for the second quarter of the current financial year as compared to the corresponding quarter in last fiscal, led by strong EBITDA margin expansion.

The firms topline grew by 1.9% y-o-y to Rs 658.7 crore in Q2 of FY 19, led by 78.0% y-o-y growth in revenues from contractual division. However, its real estate revenues de-grew 21.8% y-o-y to Rs 385.5 crore.

“We continue to maintain the growth momentum with our second quarter performance 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. This highlights that the demand across all markets and segments is improving steadily. We are hopeful of strengthening our performance further with new project launches across Bengaluru, Thrissur, Pune and Kochi”, J.C. Sharma, vice chairman and managing director, SOBHA

In Q2 FY19, SOBHA’s sales volumes grew 19.7% y-o-y to 10.3 lakh sq ft with sales value of Rs 740.8 crore. Furthermore, the Bengaluru market remained strong with sales volumes of 7.0 lakh sq ft in Q2 FY19 vs. 6.1 lakh sq ft in Q2 FY18.

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