Sobha Limited growth momentum continues in q1-20

BY Realty Plus

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SOBHA Limited today announced unaudited financial results for the quarter ended June 30, 2019.

A brief snap shot of the key financial and operational parameters for the quarter ended June 30, 2019 is given below:

Q1-20-FINANCIAL HIGHLIGHTS

Total Income at Rs 11.93 billion. The same is up by 96% as compared to Q1-19.
Real Estate Revenue at Rs. 8.45 billion, which is up by 135% as compared to Q1-19.
Contracts and Manufacturing Revenue at Rs. 3.32 billion. The same is up by 39% as compared to Q1-19.
EBITDA at Rs. 2.44 billion. The same is up by 71% as compared to Q1-19. Margin at 20%
PBT at Rs. 1.42 billion. The same is up by 92% as compared to Q1-19. Margin at 12%.
PAT at Rs. 0.91 Billion. The same is up by 70% as compared to Q1-19.Margin at 8%.
CRISIL and ICRA reaffirmed our long term credit rating at A+(Stable)

Debt – Equity Ratio as on June-19 stands at 1.19 as compared to 1.09 as on Mar-19.
Cost of borrowings stands at 9.80%.

Q1-20 OPERATIONAL HIGHLIGHTS

Achieved pre sales volume of 1.06 million square feet during the quarter. The same up by 11% as compared to Q1-19.
Total sales value stands at Rs 7.78 billion.The same is up by 2% as compared to Q1-19.
SOBHA Share of sales value at Rs 6.61 billion, up by 8% as compared to Q1-19.
Total average price realisation stands at Rs. 7,312 per square feet.
Bengaluru continues to be the strong buyer base and has achieved the new sales booking of 0.74 million square feet.
During the quarter, the company has launched SOBHA Nesara, a super luxury apartment project in Pune, with saleable area of 0.51 million square feet and SOBHA Verdure, an exclusively designed row houses project in Coimbatore, with saleable area of 0.10 million square feet. In total, SOBHA has launched 0.61 million square feet of projects during the first quarter of this financial year.
New residential projects to the tune of 10.65 million square feet will be launched in Bengaluru, Gurugram, Delhi, Hosur, Chennai, Thrissur and Hyderabad in the coming quarters.
Total cash inflow at Rs 8.01 billion. The same is up by 9% as compared to Q1-19.
Real Estate cash inflow stands Rs 5.21 billion. The same is up by 4% as compared to Q1-19.
Contractual and manufacturing cash inflow is at Rs. 2.80 billion. The same is up by 20% as compared to Q1-19.
Contracts and manufacturing order book stands at Rs. 22.33 Billion.

Speaking on the occasion, Mr. J.C. Sharma, Vice Chairman and Managing Director, SOBHA Limited said, “The momentum gathered during FY18-19 continued in Q1-20. This has helped the company to perform well on operational and financial parameters despite tough macro-economic and industry environment. We remain focussed on execution of ongoing real esate and contractual projects, resulting in topline of Rs.11.93 billion for Q1-20 and PAT of Rs.0.91 billion, up by 96% and 70% as compared to Q1-19 respectively. We have also achieved pre-sales volume of 1.06 million square feet valued at Rs 7.78 billion during the quarter. Total cash inflow for the quarter stands at Rs. 8.01 billion, which is up by 9% as compared to Q1-19. SOBHA continues to enjoy good long-term credit rating of A+(stable) from CRISIL and ICRA. This further strengthens our financial position in the market.”

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