Sobha Posts Net Profit of Rs 48.60 Crore in Q4 FY23

30 May 2023 CW Team

Sobha, a leading real estate developer in India, has reported a net profit of Rs 48.60 crore in the fourth quarter of FY23. This is a growth of 242.25% from the corresponding quarter of the previous fiscal. The company's total income stood at Rs 12.4 billion in Q4 FY23, up 66.75% from Rs 7.43 billion in Q4 FY22.

The company's managing director, Jagadish Nangineni, said that the strong performance was due to a number of factors, including the continued demand for residential and commercial properties, the company's focus on new product development, and its strong financial position.

Sobha has a strong track record of profitability and growth. In FY23, the company reported a net profit of Rs 1.85 billion , up 35.85% from FY22. The company's total income stood at Rs 49.32 billion in FY23, up 29.91% from FY22.

Sobha is well-positioned for continued growth in the coming years. The company has a strong portfolio of projects in key markets across India. The company is also focused on expanding its presence in international markets.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

Technology

27 Jun 2026

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Real Estate

27 Jun 2026

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..