Bengaluru-based Sobha Limited hit with ransomware attack, company says no impact observed

by Admin
0 comment


Aug 05, 2024 05:16 PM IST

No material impact on companyโ€™s operations was witnessed, Sobha Ltd said in an exchange filing on August 5

Bengaluru-based real estate firm Sobha Limitedโ€™s IT infrastructure was hit by a ransomware attack on August 4, the company said in a regulatory filing.

Ransomware attack hits Bengaluru-based Sobha Limitedโ€™s IT systems (Representational photo)(Pixabay)

โ€œThis is to inform about a cyber security incidence that occurred yesterday, wherein our company’s IT infrastructure was targeted by a ransomware attack,โ€ the company said in its regulatory filing.

Sobha Ltd said that the companyโ€™s management team responded promptly to the attack and no material impact on its operations was witnessed.

Also Read: Sobha Limited to develop a 26-acre row housing project in Bengaluru with a revenue potential of around โ‚น2700 crore

โ€œThe management responded promptly and initiated necessary precautions to mitigate the impact of this incident. The technical team has taken all necessary precautions to retrieve and restore the systems. The company has not found any material impact on the operations of the company due to this incident,โ€ the company said.

Also Read: Bengaluru-based Sobha Ltd gets โ‚น46 crore income tax demand notices; company to file appeal

In FY24, Sobhaโ€™s net profits fell to โ‚น49.11 crore from โ‚น104.20 crore in the previous year. The company expanded its footprint by 70 lakh square feet through six projects during the fiscal.

For the January-March quarter, Sobha reported an 86% year-on-year decline in consolidated profits to โ‚น7 crore compared to โ‚น48.57 crore in Q4 FY23. The companyโ€™s revenue also declined year-on-year to โ‚น791.25 crore in the March quarter of FY24 against โ‚น1,240.14 crore in Q4 FY23.

Also Read: Bengaluru tops housing sales and launches pan India in Q2 2024, โ‚น1-3 crore homes capture 63% of new launches

Founded in 1995, Sobha Limited has delivered over 1,362.5 lakh square feet of developable area across 27 Indian cities. It is present in both the residential and commercial segments.



Source link

Oh hi there ๐Ÿ‘‹ Itโ€™s nice to meet you.

Sign up to receive awesome content in your inbox, every day.

We donโ€™t spam! Read our privacy policy for more info.

You may also like

Leave a Comment