Profit before tax in Q4 FY22 stood at Rs 36.40 crore, up by 149.3% from Rs 14.60 crore in Q4 FY21. In the fourth quarter, the company recorded a quarterly sales value of Rs 1,110 crore with a sales volume of 1.34 million square feet. The company's quarterly cash inflow in Q4 FY22 was Rs 1,291 crore, up by 32% from Q4 FY21. Real Estate cash inflow was Rs 1,060 crore in Q4 FY22, up by 48% from Q4 FY21.

Net debt was reduced by Rs 317 crore in Q4 FY22, bringing down net debt to equity to 0.93.

The company's net profit increased by 87.5% to Rs 116.80 crore on a 29.4% rise in net sales to Rs 2,730.90 crore in FY22 over FY21.

SOBHA said that the financial year started with pandemic induced lockdown and the third wave hitting in Q4 causing uncertainty in the business environment, while the government implemented controls to limit the spread of the pandemic. Businesses opened up rather quickly with the housing sector recovering to normalcy, steadily towards Q3. This trend continued into Q4, backed by robust demand for housing that helped SOBHA Ltd. record one of its strongest quarterly performances.

The company achieved its highest ever sales volume in FY22 at 4.91 million square feet, which is approximately 22% higher than its sales volume in pre-pandemic FY19 as well as FY21.

Jagadish Nangineni, managing director, SOBHA, said, “We registered some of our best quarter figures during the year on the back of improved operations and steady sales with positive customer sentiment that resonated throughout the year.

SOBHA will prioritize operational excellence and cashflow, as it embarks on the next growth cycle in the real estate sector.”

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 scrip rose 1.65% to end at Rs 544.05 on the BSE yesterday.