Sobha Developers Q1 net profit up 14 per cent to Rs 57 crore

Very honorable and successful player in the realty sector, Bangalore based Sobha developers announced on Friday that 14% high rise in the consolidated net profit for the quarter finished June 30 at 57 crore. The real estate company had stated net revenue of 50.1% crore in the corresponding quarter previous fiscal. The total revenue of this company increased from 463 crore to 582.6% during the April June quarter of the year. It accurately increased 25.83 % compared with preceding year.

During the first quarter, the sales have been chastened majorly due to weak market sentiment in the realty sector, which has also influenced price realizations, said by MD and Vice Chairman JC Sharma. In the comparison of the last year, the company’s total expenditure increased to 339.1 crore from 327.4 crore.  During the initially quarter, the real estate firm observed new sales of 7.54 lakh square feet great valued at 482.2 crore with a regular awareness of 6,388 per square feet. 

This company planned to collect a large amount of money 593 crore of operational cash flows and net operational cash flow of 73.9 percent. We have unrecognized capitals to the tune of 2,494 crore of sold units. Just by after elections, arrival of new and a single party majority government at the center after two decades, the market sentiments have become flexible. With the pre-planned and thought out policies and reforms by the new and stable government, we possibly expected that the economy will show the signs of rapid improvement in the coming years.

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