Sobha : Strong operational discipline and record sales boosts performance

Press Release

For immediate publication

Strong operational discipline and record sales boosts performance.

Bengaluru, February 7, 2023

SOBHA Limited announced its financial results for the quarter ending December 2022 (Q3-FY23). Brief highlights include:

Increased construction activity and sustained cash management result in

• Highest ever quarterly and 9-month collection
• Improved total collections up 32.9% YoY at Rs. 14.07 bn with Real Estate contributing 82.2%
• At Rs. 38.60 bn for 9M-FY23 up by 43.4% YoY
• Increased Real Estate collections by 38% YoY to Rs. 11.57 bn
• Contracts & manufacturing collections was also consistent at Rs. 2.50 bn, up by 14.3% YoY

Strong and robust sales performance continues

• Highest ever quarterly sales volume of 1.48 mn sft, up 12% YoY
• Highest sales value of Rs. 14.25 bn
• Best average price realization of Rs. 9,653/sft, up 22% YoY
• Consistent quarterly sales volume of over 1.3 mn sft for past 6 quarters

Sound financial health

• Net Operational Cashflow of Rs. 8.25 bn, up by 61.2% YoY (9M-FY22)
• Net debt reduced to Rs. 17.69 bn from Rs. 18.89 bn in Q2-FY23
• Net Debt to Equity reduced to 0.72 from 0.77 in Q2-FY23

Mr. Jagadish Nangineni, Managing Director, SOBHA Limited said, "Our geographical diversification has paid rich dividends this quarter, helping achieve our best ever real estate sales in volume, value and price realization. Upbeat consumer confidence, increased affordability & aspirations continue to drive demand in the residential real estate space. Our momentum in project completion and customer handovers has picked up, delivering over one mn sft of space this quarter, the highest in recent times. With improved operational and financial performance in the past few quarters, investments in new opportunities, coupled with our disciplined growth mindset, we are well positioned to achieve consistent long-termgrowth."

About SOBHA Limited: Founded in 1995, SOBHA Limited is one of the fastest growing and backward integrated leading real estate brands in the country. The SOBHA DNA hinges on customer-centricity built on a foundation of strong values of trust and transparency. The unwavering commitment to continually raising and bettering quality standards through relentless execution and technology adaptation have helped deliver over 123.71 million square feet of developable area across residential, commercial, and contractual projects. The company lays strong emphasis on sustainability and highest safety standards, and epitomizes 'Passion at work', engrained in each of the 3000 plus strong Sobhaites across its offices and manufacturing units.

For further information, please contact:

SOBHA Limited

Vikram V Kanth

Senior Vice President - Corporate Communications & PR

Off: [phone] Ext. 6005; Email: [e-mail]