Sobha Developers (Pune), a wholly owned subsidiary of Sobha has entered into a Share Purchase Agreement (SPA) today on 02 April 2024, with BNB Builders (BBPL) to acquire 100% equity shares of the BBPL, as stipulated in the SPA. With the acquisition of the said equity shares, BBPL will become a wholly owned subsidiary of SDPL and a step-down subsidiary of the Company. The acquisition will enable the Company to execute a project in approx. 2.03125 acres of land situated at Village Pawala Khusrupur, Sector 106, Sub-Tehsil Kadipur, District Gurugram, Haryana.Powered by Capital Market - Live News

Net profit of Sobha declined 52.59% to Rs 15.08 crore in the quarter ended December 2023 as against Rs 31.81 crore during the previous quarter ended December 2022. Sales declined 21.11% to Rs 684.93 crore in the quarter ended December 2023 as against Rs 868.16 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales684.93868.16 -21 OPM %10.8210.22 - PBDT41.4952.62 -21 PBT21.3635.13 -39 NP15.0831.81 -53 Powered by Capital Market - Live News

Sobha will hold a meeting of the Board of Directors of the Company on 7 February 2024.Powered by Capital Market - Live News

The Board of Sobha at its meeting held on 22 January 2024 has approved the issuance of equity shares of the company for an amount not exceeding Rs 2000 crore by way of a rights issue. Powered by Capital Market - Live News

Sobha has appointed Lalit Lahoty as the Executive Vice President- Business Development of the Company with immediate effect. Powered by Capital Market - Live News