Bengaluru: Bengaluru-based real estate developer Sobha reported its highest-ever quarterly sales in the three months ended June, driven by new project launches in Bengaluru and Gurugram.The company sold homes worth Rs 3,656 crore during the quarter, up 76% from a year earlier. Consolidated revenue rose 48% to Rs 1,330 crore, while profit after tax nearly quadrupled to Rs 51 crore.Sobha sold 2.34 million sq ft during the quarter, with Bengaluru accounting for more than half of total sales. The company launched three projects across Bengaluru and Gurugram, spanning nearly 6.9 million sq ft.“Achieving our highest-ever quarterly sales is a significant milestone for Sobha,” managing director Jagadish Nangineni said, adding that the company has a strong pipeline of projects.Separately, Sobha’s board approved raising up to Rs 1,000 crore through non-convertible debentures in tranches via private placement. The terms of the fundraising will be decided later.
