Bangalore based Real Estate company Sobha Developers QoQ profits declined from Rs 61.9 crore to Rs 40 crore for Q1-FY08.
Profits during Q1-FY07 was Rs 17 crore. Details are awaited from the management of the company. Bangalore has witnessed tremendous slowdown in Real Estate prices in the past few months where Sobha and Purvankara have their major projects.