However, on a sequential basis, total sales decreased 22.93% from Rs 1,951.6 crore recorded in Q3 FY24.

Sobha’s share in sales value was Rs 1,273.5 crore, down 26.62% QoQ while up 5.47% YoY.

Average price realization was down 4.28% QoQ but up 13.46% YoY at Rs 11,230 per square feet.

Quarterly new sales area stood at 1.33 million square feet (sft), registering de-growth of 19.49% over Q3 FY24 and 9.41% over Q4 FY23.

During Q4 FY24, the realtor launched 4 new residential projects in this quarter with a total saleable area of 3.17 million sft.

Sobha is primarily focused on residential and contractual projects. Its residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes.

The company’s consolidated net profit increased 52.59% to Rs 15.08 crore despite of 21.10% decrease in revenue from operations to Rs 684.93 crore in Q3 FY24 over Q3 FY23.

The scrip fell 0.78% to currently trade at Rs 1,551.85 on the BSE.