Sobha Developers, one of the largest real estate players in India, today reported a rise of 0.86% in consolidated net profit to Rs 702 million for the quarter ended Mar. 31, 2014 as compared to Rs 696 million in the same period last year.
 
Total consolidated income increased by 6.82% to Rs 6.27 billion for the quarter ended Mar. 31, 2014 as compared to Rs 5.87 billion in the year ago period.

Commenting on the results, J C Sharma, vice chairman and managing director, Sobha Developers said, ''The previous year was filled with challenges for the Indian economy as also the real estate sector. With the economy growing at sub 5%, all the major industries such as manufacturing, services and real estate did not receive the required encouragement to exhibit the desired growth potential.

Overall, the company's performance in the fiscal has been better than the average industry performance. With the conclusion of the general elections, we are optimistic about the new government and its development plans. The year ahead looks promising and we hope to see the long-pending reforms materialise that will assist in the growth of the Indian economy and our industry.''

Shares of the company gained Rs 0.25, or 0.06%, to settle at Rs 441.60. The total volume of shares traded was 12,615 at the BSE (Thursday).