The company also achieved a key milestone in its real estate performance, recording its highest-ever quarterly sales value of Rs 2,079 crore, an 11% year-on-year increase. This is the first time Sobha has crossed the Rs 2,000 crore sales mark in a single quarter.
Total collections during the quarter stood at Rs 1,778 crore, representing a 15% YoY growth. The company continued to strengthen its balance sheet, reducing its net debt position. Net debt stood at a negative Rs 687 crore, resulting in a Net Debt-to-Equity ratio of -0.15 as of the end of the quarter.
“We achieved our highest-ever quarterly sales, fueled by robust demand across cities of our real estate operations. The successful launch of our first project in Greater Noida marks a pivotal milestone, reinforcing our brand’s strength. Our unique backward integrated delivery model continues to drive consistent performance, supported by ongoing investments in operational excellence. With a strong balance sheet and a stable demand environment, we are well-positioned for sustained growth. We remain committed to delivering exceptional value to our customers through uncompromising quality, reliability, and transparency while investing in new opportunities, our people, technology and processes,” said Jagadish Nangineni, Managing Director of Sobha Ltd.
In terms of operational performance, new area sold during the quarter was 1.44 million square feet, reflecting a 23% increase over the same period last year. The average price realization stood at Rs 14,395 per square foot, and the company launched a salable area of 1.62 million square feet during the quarter.
Sobha Ltd shares closed 1% lower at Rs 1,612.65 on the BSE on Friday.Also read: IDFC First Bank Q1 Preview: PAT may fall up to 68% YoY amid NIM pressure. 6 things to watch
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