Sobha Developers Q2 net zooms 111%

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Sobha Developers Q2 net zooms 111%
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The soaring home prices boosts the net profit of Bangalore-based real estate firm Sobha Developers. Sobha Developers posted a net profit of Rs.59 Crore for the second quarter of FY'11 which is 111% rise over the Rs.28 Crore it reported the corresponding period a year ago.

Its net sales jumped to Rs.425 crore in july-september 2010 as against Rs.216 crore during the same period last year. The company sold 1.4 million sft in the first quarter of FY'11, a growth of 120% over the same period last year.

Sobha Developers' stock closed lower by 2.28% at Rs.370.50 on the BSE on Friday.

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