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Realty company Sobha announced Q1FY25 results:
- Quarterly sales value of Rs 18.74 billion. up 28% YoY and a 24.6% QoQ.
- Best ever average price realization of Rs 15,941 per sft, up 51.7% YoY.
- Sold 562 units with total saleable area of 1.17 million sft across all regions in Q1FY25.
- Four new residential projects launched with a total saleable area of 3.04 million sq. ft
- Debt reduction continued for 15 consecutive quarters with Debt/Equity ratio now at 0.47.
- Highest ever collections: Q1FY25 was at Rs 15.46 billion. and 13.55 billion in Q1FY24, marking a 14% increase YoY.
- Net cashflow: Rs 0.74 billion for Q1FY25 and Rs 0.70 billion in Q1 FY-24. Increase by 5% YoY.
- Net revenue at Rs 6.69 billion and PAT was at Rs 0.06 billion in Q1FY25.
Jagadish Nangineni, Managing Director, SOBHA Limited said, “SOBHA's strong performance in Q1FY25 was supported by robust housing demand across all our operational markets and a steady focus on efficient execution. This resulted in impressive sales, exceptional real estate collections, and the highest average price realization of Rs 15,941 per sft. A significant portion of this price realization can be attributed to our shift in inventory mix towards luxury and super-luxury projects. Our strong sales performance demonstrates that customers continue to appreciate SOBHA's high-quality homes. With a healthy pipeline of 18.30 mn. sft. of residential projects set to be launched in the coming quarters, we anticipate further enhancement of our growth trajectory. Additionally, the recently concluded rights issue will enhance our financial and operational strength, positioning us to capitalize on growth opportunities in India's vibrant economic environment and enter new markets.”
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