Mumbai, Oct 19 (IANS) Realty developer Sobha Limited on Monday reported a sharp decline in earnings for the quarter ended September (Q2 FY27), with net profit falling nearly 55 per cent year-on-year amid lower revenue.
The company posted a net profit of Rs 32.9 crore during the quarter, down 54.6 per cent from Rs 72.5 crore in the corresponding period last financial year (Q2 FY26), according to its stock exchange filing.
Revenue from operations declined 31.3 per cent to Rs 967 crore from Rs 1,408 crore a year ago, as per its filings.
Operating performance also weakened during the quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 28.1 per cent year-on-year to Rs 68.7 crore from Rs 95.6 crore.
However, EBITDA margin improved marginally by 30 basis points to 7.1 per cent from 6.8 per cent in the year-ago period.
The shares of the company were closed at Rs 1,178, down 0.88 per cent or Rs 10.40 on the National Stock Exchange (NSE). In last five days, the shares were up 1.21 per cent or Rs 14.10.
Founded in 1995 by P.N.C. Menon, Sobha is a luxury real estate developer known for its backward-integrated business model, under which it undertakes most aspects of construction and development in-house, including design, architecture, interiors, glazing, metal works and concrete products.
The company has a significant presence across major Indian property markets, including Bengaluru, Delhi-NCR, Chennai, Pune, Hyderabad, Kochi and GIFT City, while also operating internationally through its Sobha Realty business in the United Arab Emirates and other Gulf markets.
Headquartered in Dubai with a major corporate office in Bengaluru, Sobha is known for premium residential and commercial developments such as Sobha Neopolis, Sobha Ayana, Sobha Altus and Sobha Hartland. The company has been listed on the National Stock Exchange and BSE since its initial public offering in 2006.
–IANS
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