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SOBHA Limited Announces Q2 -19 Financial Results



SOBHA LIMITED announces Q2 -19 Financial Results

SOBHA Limited today announced unaudited financial results for the quarter ended September 30, 2018.

A brief snap shot of the key financial and operational parameters for the quarter ended September 30, 2018 is given below:

  • Revenue at Rs. 6.76 billion on a consolidated basis
  • EBITDA of Rs. 1.58 billion; EBITDA margin at 23%
  • PBT at Rs. 891 million; PBT margin at 13%
  • PAT at Rs. 602 million; PAT margin at 9%
  • Registered new sales volume of 1.03 million square feet
  • Registered new sales value of Rs.7,408 million (SOBHA Share of  Rs.6,166 million)
  • Achieved average price realisation of Rs. 7,181 per square feet (SOBHA Share of Rs.5,977 per square feet)
  • Launched SOBHA Lake Garden in Bengaluru with saleable area of 0.89 million square feet
  • Cash inflow of Rs.7.57 billion
  • Net operational cash flow of Rs.238 million after interest and tax expenses
  • Debt – Equity Ratio of 1.16
  • Cost of Borrowings at 9.30%
  • Contracts and Manufacturing order book at Rs. 22.67 Billion

SOBHA Limited, on a consolidated basis, registered a turnover of Rs.6,762 million during the second quarter of the financial year 2018-19. The Profit before Tax (PBT) stood at Rs.891 million and the Profit after Tax (PAT) at Rs. 602 million on a consolidated basis.

During the quarter, the Company has generated net positive operational cash flows of Rs. 238 million after meeting interest and tax expenses. The Company continues to enjoy the confidence of lenders and has steady cash inflows from its operations.

In Q2’19, the Company achieved new sales volume of 1,031,602 square feet total valued at Rs. 7,408 million with an average realisation of Rs.7,181 per square feet (SOBHA Share of sale value at Rs. 6,166 million with an average realisation of Rs.5,977 per square feet).

Speaking on the occasion, Mr. J.C. Sharma, Vice Chairman and Managing Director, SOBHA Limited said, “We continue to maintain the growth momentum with our second quarter performance despite the impact of recent floods in the Kerala market. While Bengaluru, our principal market has once again performed well, the second quarter sales volume of Gurugram market is the highest in the last 23 quarters. This highlights that the demand across all markets and segments is improving steadily. We are hopeful of strengthening our performance further with new project launches across Bengaluru, Thrissur, Pune and Kochi.”

Mr. Sharma further added, “As the Indian real sector enters the consolidation phase at the back of progressive reforms, we are witnessing the emergence of a stable, transparent and accountable ecosystem that will help drive homebuyer sentiments going forward. Additionally, the continuous push from the Government on the affordable housing segment with the recent revision of carpet area and other schemes are expected to further augment the housing demand in the country.”

Elaborating further, he said, “India has recently moved up 23 places to be at the 77th position in the World Banks’ Ease of Doing Business Survey 2019. With this, India is now the top-ranked South Asian country in the rankings. This validates the positive impact of the reforms implemented by the Government in the last few years, improving the economic growth of India gradually. The real estate is expected to contribute significantly to the overall economic growth of India in the coming to become the third largest globally.”

Exceptional Execution

SOBHA’s superior execution capability is its core strength. Since inception, SOBHA has completed real estate projects and contractual projects covering about 96.48 million square feet of area. The Company currently has ongoing real estate projects aggregating to 39.64 million square feet of developable area and 27.09 million square feet of saleable area, and ongoing contractual projects aggregating to 8.59 million square feet under various stages of construction.

The Company has a real estate presence in 9 cities, viz. Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Thrissur, Calicut, Cochin and Mysore. Overall, SOBHA has a footprint in 26 cities and 13 states across India.

Recognition & Awards

  • Awarded Kerala Management Association (KMA) CSR award under the Health and Hygiene category at first all-Kerala CSR conclave held in Kochi.

About SOBHA Limited:

Founded in 1995, SOBHA Limited is one of the fastest growing and foremost backward integrated real estate players in the country. It means that the company has all the key competencies and in-house resources to deliver a project from its conceptualization to completion. SOBHA is primarily focused on residential and contractual projects.

The Company’s residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes. In all its residential projects, the company lays strong emphasis on environmental management, water harvesting, and highest safety standards.

On the contractual projects side, the Company has constructed a variety of structures for corporates including offices, convention centers, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centers, and clubhouses.


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