Sobha Ltd Q2 Profit Surges 75% to Rs 26.08 Crore

New Delhi, Nov 15 (PTI) 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 added.

"Our focus on delivering benchmark quality residences, construction products and services through our unique backward integrated operating model would continue to be our mainstay as we pursue scale," Nangineni said.

Founded in 1995, Sobha Ltd has delivered over 139.03 million sq ft of developable area across 27 Indian cities.