The company in the current financial year has sold 431 units in Q3, 177 units in Q2 and 115 units in Q1 taking the total to 723 units in its residential business for the nine months ended December 09.
Sobha Developers Limited, Indias leading Real Estate Company known for its quality delivery, has declared its financial results for the 3rd Quarter ended December 31, 2009 at its Board meeting held in Bangalore.
Financial Performance:
For the 3rd Quarter ended December 31, 2009, the Company has clocked a turnover of Rs. 3102mn compared to Rs 1876mn in Q3 of FY 08-09, up 65%. The Profit after tax stood at Rs. 408mn compared to Rs 75mn in Q3 of FY 08-09, up 444%.
More : indiainfoline.com
Send an E-Mail for India Property Enquiry!
Related News from India Properties
Sobha Developers set to restructure Rs 850-crore debt
Sobha Developers, the Bangalore-based real estate developer, is in the process of restructuring 45 per cent of its debt burden. The company has about Rs 1,900 crore of debt on its balance sheet. The company, which has a land bank of 3,000 acres primarily in south India, is in discussions with around 12 banks and financial institutions to restructure around Rs 850 crore of debt. Company officials detail that these debts are all on projects that are either underway or nearing completion or against inventory backlog. The average rate of interest is around 13.72 per cent. More : business-standard.com
Indian real estate developer to open hotel property in Dubai
Sobha Group, Indian real estate group with projects in Dubai, has acquired a plot on the Sheikh Zayed Road for the development of its first hotel property in Dubai. The realty group, which announced plans to launch Sobha Hotels at Arabian Travel Market in May 2008, has plans to develop over ten 5-star properties in the next 3 years, with 2 hotels earmarked for Dubai, 6 for India and 1 each in Oman and Zanzibar. Ajay Rajendran, Vice Chairman, Sobha Group, said, "It is our intention to have 4 hotels operational by 2011 with another 11 properties under construction. We
Indian realtor buys Dubai plot for new 5-star property
Indian real estate developer Sobha Group has acquired a plot of land on a major arterial road in Dubai to build the first of its planned five star hotels. The group has acquired the land on Sheikh Zayed Road to build the first hotel of its proposed Sobha Hotel chain, a company statement said. Sheikh Zayed Road is the landmark business address in Dubai, so what better place for us to mark our entry into the hotel development and operations arena? said Ajay Rajendran, Sobha Group vice-chairman, in the statement. More : economictimes.indiatimes.com
Indian property firm DLF Q4 profit dives 93%
Indias leading real estate developer DLF reported Friday that its net profit plunged by 93 percent in the fourth quarter, hit by a slumping property market. New Delhi-based DLF, controlled by billionaire Kushal Pal Singh, said net profit sank to 1.59 billion rupees (32 million dollars) for the three months ended March 31, 2009, on revenues which slid 69 percent to 13.5 billion rupees. Profit for the full year tumbled 41 percent to 46.3 billion rupees on sales that fell 28 percent to 105.4 billion rupees, the company said in a statement. More : google.com
Pune firms outperform India Inc in 2nd quarter
Pune-based companies have outperformed India Inc by posting a 36 per cent growth in sales and a hefty 108 per cent growth in net profits during the quarter ended September 2005. Corporate India has faired badly with 2,256 companies registering 18.53 per cent sales growth and 19.33 per cent growth in net profit in July-September quarter. The Pune region houses 64 companies. Collectively, they have reported sales of Rs 7,725 crore during the quarter ended September 2005, up 35.59 per cent over the net sales of Rs 5,697 crore in the corresponding quarter of the previous year. Their