Shares of Sobha Ltd. fell over 4% on Wednesday with stock trading at Rs 1126.80 apiece at 9:37 am after the company announced its Q2FY27 results on Monday. The stock opened 2.31% lower at Rs 1,148.80 and extended losses to touch Rs 1121 apiece during the session on Wednesday.
Realty firm Sobha Ltd on Monday reported a 55% decline in its consolidated net profit to Rs 32.95 crore for the quarter ended September, impacted by lower income. Its net profit stood at Rs 72.52 crore in the year-ago period. Tuesday was a market holiday.
Total income fell to Rs 1,017.21 crore in the second quarter of the current fiscal from Rs 1,469.32 crore in the corresponding period of the preceding financial year, according to a regulatory filing. During the first six months of FY27, Sobha Ltd's net profit fell to Rs 83.80 crore from Rs 86.14 crore in the year-ago period.
Total income dropped marginally to Rs 2,347.38 crore in the first six months of this fiscal from Rs 2,370.73 crore in the corresponding period of the preceding financial year.
Jagadish Nangineni, Managing Director of Sobha, said, "Our H1 FY27 (April-September) performance, marked by record sales, reflects the continued trust of our customers, the strength of the Sobha brand and the successful execution of our business strategy. As we look ahead to the second half of the year, we will build on this momentum, supported by our planned project launches, a strong development pipeline and sustained demand for quality housing."
Nangineni said the focus would remain on enhancing execution efficiency, maintaining financial discipline and leveraging its backwards-integrated model to deliver superior quality and reliability. Bengaluru-based Sobha Ltd is one of the leading real estate developers in the country.
Sobha Ltd. Share Price Today
Sobha Ltd. Share Price Today
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The scrip fell as much as 4.68% to Rs 1121 apiece on Wednesday. This compares to a 0.97% rise in the NSE Nifty 50 Index. It has fallen 26.87% in the last 12 months and 22.76% year-to-date. Total traded volume so far in the day stood at 2.09 times its 30-day average. The relative strength index was at 59.52.
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