Sobha Developers surged 3.77% to Rs 264.45 at 14:21 IST on BSE after posting 23.77% rise in net profit to Rs 50.5 crore on 29.53% increase in total income to Rs 348.80 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results during trading hours today, 24 July 2008.
The stock hit a high of Rs 275 and a low of Rs 259.90 so far during the day. The stock had a 52-week high of Rs 1060 on 16 October 2007 and a 52-week low of Rs 225.05 on 16 July 2008.
The company has an equity capital of Rs 72.90 crore. Face value per share is Rs 10.
The current price of Rs 264.45 discounts its Q4 March 2008 annualised EPS of Rs 38.52, by a PE multiple of 6.87.
At the time of announcing Q1 June 2008 results today, Sobha Developers said its board has approved issuing shares on a rights basis to the existing shareholders. The rights issue size is pegged at Rs 350 crore
On 7 July 2008, a Dubai based firm acquired 40% stake in Sobha Developers' residential township project at Hosahalli, Bangalore.
Sobha Developers is engaged in developing and construction properties and projects. The properties include commercial, residential and office properties.
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