Sobha Ltd’s consolidated net profit fell 50% to Rs 6 crore for the June 2024 quarter, compared to Rs 12 crore a year earlier. Total income also dropped to Rs 669 crore from Rs 939 crore. Despite this, robust housing demand and high average price realizations supported performance. The company plans to launch 18.30 million sq ft of new residential projects and sees growth opportunities following a recent rights issue. The profit drop may concern investors, but new projects and rights issues could drive future growth.
Sobha Ltd Reports 50% Drop in Q1 Net Profit Amid Strong Housing Demand
