Sobha Developers Ltd’s profits moved up 6.47 per cent to Rs 52.6 crore on a consolidated basis for the third quarter (Q3) this fiscal (2012-13).

The company’s revenues were also 37.40 per cent higher at Rs 429.8 crore compared with the same period last year. EPS stood at Rs 5.36 against Rs 5.04 recorded last year.

During Q3, the company sold 0.90 million square feet of new space valued at Rs 533 crore at an average price realisation of Rs 5,910 per square feet.

J.C. Sharma, Vice-Chairman and Managing Director, said: “this has been the best quarter ever in terms of cash realisation from our operations. It further strengthens our faith that there is a large market for discerning buyers who appreciate and value a superior product.”

“On the contract side, we have completed and handed over projects measuring 0.26 million square feet during Q3. We have a clear visibility for the next three years and are positive about having sound income from this vertical,” he added.

(This article was published on January 31, 2013)
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