Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Sobha Ltd announces Q3 FY24 Financial Results

Posted On: 2024-02-08 13:06:35 (Time Zone: IST)


Sobha Ltd., a prominent player in the realty sector, has released its financial results for the quarter ended December 31, 2023. Despite facing challenges within the real estate industry, the company has showcased resilience and posted its financial performance for Q3 FY24, reflecting its strategic initiatives and operational efficiency.

Financial Highlights:

Quarterly Performance (Q3 FY24):

Sales: Sobha Ltd. reported sales of ?685 crores for Q3 FY24, representing a slight decrease compared to the previous quarter's ?741 crores.

EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization stood at ?74 crores, remaining relatively stable compared to the previous quarter.

PAT: Profit After Tax reached ?15 crores, demonstrating Sobha Ltd.'s ability to maintain profitability amidst market challenges.

Quarterly Comparison (Q3 FY24 vs. Q2 FY24 and Q3 FY23):

While sales experienced a slight decline from Q2 FY24 to Q3 FY24, the company showcased resilience amidst challenging market conditions.

EBITDA and PAT remained relatively stable compared to the previous quarters, indicating Sobha Ltd.'s consistent operational performance.

9-Month Performance (9M FY24 vs. 9M FY23):

Sobha Ltd. reported cumulative sales of ?2,334 crores for the nine months ended December 31, 2023, compared to ?2,103 crores in the same period last year.

EBITDA for 9M FY24 stood at ?215 crores, reflecting the company's ability to maintain operational efficiency.

Profit After Tax witnessed a slight decrease compared to the previous year, indicating the impact of market dynamics on Sobha Ltd.'s bottom line.

Sobha Ltd.'s performance in Q3 FY24 reflects its resilience and ability to navigate through market uncertainties within the realty sector. Despite challenges such as regulatory changes and macroeconomic headwinds, the company has maintained a stable performance, driven by its strong brand presence and customer trust.

The real estate sector's recovery post-pandemic and increasing demand for residential and commercial properties present growth opportunities for Sobha Ltd. The company's focus on project execution excellence, customer satisfaction, and operational efficiency positions it well to capitalize on emerging market trends and further strengthen its market leadership.

Shares of Sobha Limited was last trading in BSE at Rs. 1440.70 as compared to the previous close of Rs. 1392.45. The total number of shares traded during the day was 24508 in over 2304 trades.

The stock hit an intraday high of Rs. 1457.35 and intraday low of 1392.30. The net turnover during the day was Rs. 35281834.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Infosys and Linux Foundation Networking Collaborate to Strengthen Responsible AI for Global Networks

ITC announces strategic acquisition of Pulp & Paper Undertaking of Aditya Birla Real Estate Limited

AGI Greenpac Ltd approves ~ Rs. 700 crore capex

NHPC Ltd updates on 300 MW Bikaner Solar Power Project

Prashant India Ltd enters into agreement for sale with Shantilon Poly Pvt Ltd

Trent Limited crosses operating portfolio of over 1000 fashion stores

Aditya Birla Capital Limited completes amalgamation of Aditya Birla Finance Limited

Cantabil Retail India Ltd opens 13 new showrooms

Kalpataru Projects International Ltd receives orders worth Rs. 621 crores

HCLTech elevates Public Sector expertise with launch of US subsidiary

India Glycols Limited adds 200 KLPD Ethanol capacity

FY 2024-25: Despite Supply Chain Woes, HAL Registers Revenue of Rs 30,400 Crores, Builds Capacities

Loyal Textile Mills Ltd sells part of its windmill units for Rs. 73.80 crores

Aditya Birla Real Estate Ltd streamlines portfolio - Divests Century Pulp and Paper undertaking for Rs. 3498 Cr

Artefact Projects Limited awarded project worth Rs. 241.63 lakh

Gennova Advances Pathbreaking AI-Enhanced saRNA Vaccine for one of the deadliest known viruses in collaboration with CEPI

Avenue Supermarts Ltd opens 3 new stores, increases store count to 415

Coastal Biotech Pvt Ltd starts trial runs at its Ethanol Plant

Walchandnagar Industries Limited receives contract worth Rs. 30.75 crores

GRSE Records 32 % YoY growth in the FY25

AGI Greenpac Limited to set up new Container Glass Plant in Madhya Pradesh

Triton Valves Limited signs contract with Robert Bosch GmBH

Jyoti Ltd to allot 59,63,636 shares to Rare Asset Reconstruction ltd

Avantel Ltd receives order worth Rs. 11.36 crores

Kohinoor Foods Ltd to sell rice factory for Rs. 190 crores as part of OTS

Aditya Vision Limited opens 4 showrooms at Jharkhand and UP

DCM Shriram Limited commissions new caustic soda flakes plant

Asian Granito India Limited receives IT demand notice

Newgen Software Inc. inks agreement for order worth USD 1,270,000

Blue Jet Healthcare Ltd receives demand notice from IT department for Rs. 1,93,38,55,250/- including interest

LTIMindtree announces strategic partnership with Google Cloud to drive Business Transformation with Agentic AI

NHPC commissions 3 units of Parbati-II HE project

ixigo announces APRIL FULL REFUND SALE for 1st April - 100 Lucky Travellers To Win 100% Refund on Flight Bookings

Engineers India Ltd receives orders worth Rs. 245 crores

Blue Star appoints Mohit Sud as Group President, Unitary Cooling Products

Jyoti Ltd receives Rs. 108.17 crores IT demand notice for AY 2020-21

HBL Engineering Limited receives Kavach contracts worth Rs. 762.56 crores

SPARC announces submission of IND Application for SBO-154 to USFDA

Hon'ble PM Shri Narendra Modi visits Solar Defence and Aerospace Ltd's facilities

Avenue Supermarts Ltd's store count increases to 412, opens 4 new stores today

Tera Software Ltd receives LOIs worth Rs. 273.2 crores from MVVNL

JSW Steel Ltd declared successful bidder by BCCL in the auction of Dugda Coal Washery in the State of Jharkhand

IRM Energy Ltd secures 5-Year RLNG supply agreement with Gujarat State Petroleum Corporation Limited

Uno Minda Strengthens Governance, appoints Ravi Mehra as Managing Director, and Expands Board Expertise

Manoj Vaibhav Gems 'N' Jewellers Ltd opens new Jewellery store at Narsipatnam

Income Tax Authority imposes penalty of Rs. 944.20 crore on InterGlobe Aviation Limited

Tejas Networks Ltd receives Rs. 189.1657 crore under PLI scheme

Nitco Ltd expects Rs. 100 crores on receipt of property from development of Leasehold Rights

Fusion Finance Limited fixes April 4, 2025 as record date for 55:91 rights issue

JM Financial Limited invests in rights issue of JM Financial Asset Management Ltd


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020