Sobha Ltd Performs Well Amid Dismal Macros
SOBHA Limited announced audited financial results for the quarter and financial year ended March 31, 2020. The company has reported all time high total income of Rs 38.26 billion for FY-20, up by 9% YoY. The EBITDA for FY-20 stands at an all time high at Rs 8.31 billion, up by 11% YoY. PAT for FY-20 stands at Rs 2.82 billion with 7% margin. The total income, EBITDA and PAT for Q4-20 stands at Rs 9.28 billion, Rs 1.84 billion and 0.51 billion respectively. During FY 19-20,Contractual and Manufacturing verticals have delivered a very strong performance resulting in highest ever revenue of Rs 14.74 billion and cash inflow of Rs 12.83 billion. Order book remains healthy which gives good visibility for the Company’s future growth. The Company has also achieved highest ever total sales volume of 4.07 million square feet valued at Rs 28.81 billion during FY-20. Total cash inflow for FY-20 stands all time high at Rs 36.47 billion. We have also delivered 5.86 million square feet of developable area during FY 19-20 which shows our strong delivery capabilities during tough times. During Q4-20, SOBHA has achieved total sales volume of 0.91 million square feet valued at Rs 6.95 billion. Total average price realisation showed upward trend as compared to Q3-20, as we saw good sales traction for our luxury and super luxury ongoing projects across cities. Total cash inflow for the quarter stands at Rs 9.45 billion. The Company has also generated net operational cash flow of Rs 2.14 billion and net cash flow of Rs 0.71 billion during the quarter which has resulted in debt reduction. J.C. Sharma, Vice Chairman and Managing Director, SOBHA Limited said, “FY 2019-20 has been an exciting and a challenging year. As we started FY-20 on the back of one of the strongest performances, a gamut of new events unfolded which to a larger extent reversed the benefit of reforms witnessed during the previous 3 to 4 years. Major world economies slipping into recession followed by the unprecedented Covid-19 pandemic have put the largely labour intensive sectors like construction in a tight spot. The pandemic has adversely impacted both human lives and businesses world over.” The company currently has ongoing real estate projects aggregating to 39.36 million square feet of developable area and 27.41 million square feet of saleable area, and ongoing contractual projects aggregating to 9.44 million square feet under various stages of construction. As on 31st March 2020, the company has delivered overall 109.74 million square feet of developable area. The company has a real estate presence in 10 cities, viz. Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Gujarat (Gift City) and Mysore. Overall, SOBHA has footprint in 27 cities in 14 states across India.
Tags : ALLIED