Sobha Q3 Profit Surges 44% to Rs 21.68 Cr, Revenue Grows to Rs 1,257 Cr

New Delhi, Feb 6 (PTI) Realty firm Sobha Ltd on Thursday reported a 44 per cent increase in its consolidated net profit to Rs 21.68 crore for the quarter ended December 31, 2024.

Its net profit stood at Rs 15.08 crore in the year-ago period.

Total income increased to Rs 1,256.87 crore in the third quarter of this fiscal against Rs 713.74 crore in the corresponding period of the preceding year, according to a regulatory filing.

"Our financial and operational strength has significantly increased this year with the rights issue and improved visibility," Jagadish Nangineni, Managing Director of Sobha, said.

"We embark on entering three new cities - Greater Noida, Hosur and Mumbai - in the next year, increasing our footprint to 15 cities in the country. This reaffirms our commitment to delivering high-quality homes to a broader customer base while maintaining financial prudence," he added.

With the real estate sector on a steady growth trajectory, Nangineni said the company is poised for significant momentum with upcoming project launches.