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.

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