Sobha's Q4 FY24 Net Profit Declines 85.55%

20 May 2024 CW Team

Sobha Limited, a prominent real estate developer, has reported a significant 85.55% decrease in net profit for the fourth quarter of fiscal year 2024. This decline reflects challenges faced by the company amidst evolving market dynamics and economic conditions.

Despite the challenging operating environment, Sobha remains committed to its strategic objectives and long-term growth trajectory. The company continues to focus on enhancing operational efficiencies, optimising project execution, and delivering high-quality residential and commercial developments.

Sobha's management has acknowledged the impact of market uncertainties on its financial performance while reaffirming its commitment to prudent financial management and sustainable business practices. The company's resilience and ability to adapt to changing market dynamics position it well for future growth opportunities.

Investors and analysts are closely monitoring Sobha's performance amidst the broader economic landscape, recognizing the importance of agility and strategic planning in navigating market challenges. As Sobha continues its operations, stakeholders anticipate potential recovery and growth initiatives to drive value creation in the real estate sector.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..