Sobha Ltd's Net Profit Jumps 72% at Rs 90.6 Cr For Q1FY20

New Delhi: Bengaluru-based Sobha Ltd recorded 72 percent jump in its consolidated net profit at Rs 90.6 crore for the first quarter ended June of the current fiscal as compared to Rs 52.6 crore in the corresponding quartet of the previous fiscal, according to a regulatory filing. 

Total income of the company registered an increase 96 percent at Rs 1193 crore the latest quarter of 2019-20 fiscal as compared to Rs 610 crore in the corresponding quarter of the previous fiscal. 

The cost of borrowings of the company went up in the latest quarter at 9.8 percent as compared to 9.31 percent in the same period last year.  

“We have also achieved pre-sales volume of 1.06 million sq ft valued at Rs 7.78 billion during the quarter. Total cash inflow for the quarter stands at Rs. 8.01 billion, which is up by 9 percent as compared to Q1-19,” said J C Sharma in a statement.  

“The Q1-20 has also witnessed a good performance by our contracts and manufacturing verticals. The revenues grew by 39 percent as compared to Q1-19. Cash flows and order book remains healthy, offering good visibility for the future. We have recently won a new contract in Trivandrum worth about Rs. 600 million, adding to growing list of new contracts,” he added.

During the latest quarter, the company launched 0.61 million sq ft of projects and new projects to the tune of 10.65 million sq ft will be launched in Gurugram, Bengaluru, Hosur, Thrissur, Hyderabad, Chennai and Delhi in the next few quarters.