Sobha Limited posts ₹21.60 crore Q3 profits

Source: Business Line | Title: Sobha Limited posts ₹21.60 crore Q3 profits

Sobha Limited profits are lower by 70.49 percent at ₹21.60 crore profits for the third quarter (Q3) of FY 2020-21 on consolidated basis as against ₹73.20 crore posted last year.

The company’s Q3 income is also lower by 22.73 percent at ₹696.30 crore as against ₹901.20 crore in the same period last year. EPS for the quarter stood at ₹2.28 compared with ₹7.72 last year.

JC Sharma, Vice Chairman and Managing Director, Sobha Limited said, “Company has achieved our best ever pre-sales performance during the quarter. Highest ever pre-sales volume has been achieved followed by higher price realisation witnessed during the recent quarters. This is due to the continued efforts during an uncertain and tough operating environment. Digital marketing continues to play a crucial role and is yielding the expected results. We believe that the trend is sustainable backed by a number of enquiries crossing the pre-Covid level, and a healthy conversion of enquiry-to-sales.”

“Real estate cash inflow and net cash flow achieved during Q3-21 is the highest in the last 10 quarters. We have also achieved the highest ever net operating cash-flow of ₹404 crore on a nine months rolling basis, during the last 3 years,” he added.

Source: Business Line

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