Sobha Developers reports record fourth-quarter, full-year sales [June 2013]

Real Estate
Realty major Sobha Developers Ltd. has recorded a top line of ` 18.70 billion, profit before tax (PBT) of ` 3.24 billion and profit after tax (PAT) after adjusting the minority interests of ` 2.17 billion for the financial year 2012-13 on a consolidated basis. While there has been an increase in PAT by 5 per cent, the PBT has increased by 2 per cent due to higher depreciation, interest and finance charges. The company announced the results at its board meeting, which was held at Bengaluru on May 10, 2013.
The company sold 3.76 million square feet of new space valued at ` 22.15 billion during the financial year 2012-13, compared to 3.28 million square feet in 2011-12 valued at ` 17.01 billion.
During the fiscal year 2012-13, Sobha launched new real estate projects totalling 2.64 million sq ft.

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