Sobha Limited jumps 5 per cent on strong Q1FY19 numbers
Sobha Limited reported its results for the quarter ended June 30, 2018 on Tuesday. The company’s consolidated revenue for the quarter came in at Rs. 597.7 crore, registering 12 per cent yoy decline. This decline was mainly on account of decline in revenue from real estate by 28.9 per cent yoy.
The company has achieved 9,60,085 square feet of new sales during Q1FY19. Also, sales volume were up by 18 per cent as compared to Q1FY18. Bangalore region contributes 64 per cent of the total volume. Other locations volume increased by 56 per cent as compared to Q1FY18.
EBITDA for the quarter rose by 7.9 per cent yoy to Rs. 130.6 crore with a corresponding margin expansion of 403 bps. EBITDA margin for the quarter stood at 21.9 per cent. The PAT for the quarter came in at Rs. 52.6 crore, yoy increase of 10.3 per cent.
The total contractual and manufacturing order book as on June 30, 2018 stood at around Rs. 24.40 billion.
Sobha Limited is engaged in the construction and development of residential and commercial projects and has a presence in 26 cities across 13 states in India.
On Tuesday, the stock opened at Rs. 488.65 per share and jumped by 5 per cent and made an intraday high of Rs. 507.95 and finally closed at Rs. 494.15 on the BSE.