Sobha sells properties worth Rs 1,540 cr during Apr-Dec 2012
New Delhi, Feb 3 (PTI) Realty firm Sobha Developers has achieved 24 per cent higher sales booking in the first nine months of this fiscal at Rs 1,540 crore, compared with the year-ago period on increase in volumes as well as realisation.
The company''s net debt stood at Rs 1,320.8 crore as on December 31, 2012, up by Rs 28.6 crore from previous quarter.
According to analyst presentation, Sobha recorded new sales value of Rs 1,540 crore during April-December period of this fiscal, as against Rs 1,237 crore in the year-ago period.
In volume terms, the company sold 2.68 million sq ft of new space during last three quarters, as against 2.42 million sq ft in the corresponding period of previous year.
Average sales realisation also improved by 12 per cent at Rs 5,738 per sq ft against Rs 5,110 a sq ft during the period under review.
On debt position, the presentation said that consolidated net debt rose to Rs 1,320.8 crore as on December 31, 2012 from Rs 1,292.2 crore as on September 30. The average cost of debt stood at 13.58 per cent.
Earlier this week, Sobha reported 7 per cent increase in consolidated net profit at Rs 52.6 crore for the quarter ended December 31, as against Rs 49.4 crore in the year-ago period.
Revenue grew by 37 per cent to Rs 431 crore in the third quarter of this fiscal from Rs 315 crore in the corresponding quarter of the previous year.
Sobha has presence in seven cities -- Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Mysore and Thrissur. It has completed 83 projects aggregating to 20.78 million sq ft of saleable area and is presently developing 43 projects with 17.4 million sq ft of saleable area.