Companies

Sobha Developers net up 34% at Rs 182.5 cr

PTI Mumbai | Updated on May 10, 2011 Published on May 10, 2011

Real estate company Sobha Developers on Tuesday reported its yearly net profit rose by 34 per cent to Rs 182.5 crore.

Revenues were up 31 per cent year-on-year in 2010-11 at Rs 1,464.6 crore, the Bangalore-headquartered company said. In 2010-11, the company sold 2.78 million sq ft, a 33 per cent y-o-y growth. In 2011-12, Sobha plans to launch about 11 million sq ft.

The board has recommended a dividend of Rs 3 per share.

In addition to launches in Bangalore, Coimbatore, Thrissur and Pune, the company plans to enter three new territories of Mysore, National Capital Region and Chennai.

“The land required for proposed launches has been fully paid up and the infrastructure needed for development is in place,” the company said.

Published on May 10, 2011
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