Sobha Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 29, 2023 at 12:07 pm
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Sobha Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 12,099 million compared to INR 7,103 million a year ago. Revenue was INR 12,401 million compared to INR 7,437 million a year ago. Net income was INR 486 million compared to INR 142 million a year ago. Basic earnings per share from continuing operations was INR 5.13 compared to INR 1.5 a year ago.
For the full year, sales was INR 33,101 million compared to INR 25,613 million a year ago. Revenue was INR 34,024 million compared to INR 26,453 million a year ago. Net income was INR 1,042 million compared to INR 1,732 million a year ago. Basic earnings per share from continuing operations was INR 10.99 compared to INR 18.27 a year ago.
Sobha Limited is an India-based real estate developer. The Company is engaged in the business of construction, development, sale, management and operation of townships, housing projects, commercial premises and other related activities. The Company operates through two segments: Real estate segment, and Contractual and manufacturing segment. Its real estate segment is engaged in the business of construction, development, sale, management and operation of all or any part of townships, housing projects and other related activities. This segment also includes leasing self-owned commercial premises. It builds presidential apartments, villas, row houses, luxury and super luxury apartments, plotted development, and aspirational homes. Its Contractual and manufacturing segment comprises development of commercial premises and other related activities, also includes manufacturing activities related to interiors, glazing and metal works and concrete products.