Sobha Developers foraying into Hyderabad
Hyderabad- Reputed real estate player, Sobha Developers is looking for opportunities in the Hyderabad realty market. It has also set up an office in the city. The company is also planning to foray into Kochi, Kozhikode (Calicut) and Noida or Ghaziabad region.
Sobha has recently launched its fifth residential project in Pune named “ Sobha Garnet III”. It is located close to the NIBM Campus at Kondhwa and offers excellent connectivity to other parts of the city.
The project sprawls across 7.4 acres of land and offers 3 and 4 BHK super luxurious apartments of size ranging between 1734 sq ft to 2090 sq ft. There are total 118 apartments in two blocks arranged in basement and ground plus 11 floors.
The price of these luxury apartments start from Rs 82 lakh. They are built to international standards to provide comfortable and lavish life. The project is loaded with all basic and modern amenities and features. The company has land parcels of 50 acres in Pune in Chandkhed and Sanaswadi.
The developer, by the end of January 2013, witnessed seven percent hike in consolidated net profit at Rs 52.6 crore for the quarter ended December 31, as against Rs 49.4 crore in the year-ago period.
The revenue of Sobha Developers increased by 37 percent to Rs 431 crore in the third quarter of this fiscal. It sold 0.9 million sq ft of new space valued at Rs 5.33 billion at an average price realisation of Rs 5,910 per sq. ft. It’s revenue stood at Rs 315 crore in the corresponding period of the previous year.
Bangalore based Sobha Developers has marked its presence in seven cities of India, namely, Bangalore, Gurgaon, Chennai, Coimbatore, Pune, Mysore and Thrissur.
Totally it has completed 83 real estate projects across different cities and 43 projects are under construction presently. In terms of saleable area, Sobha has already developed 20.78 million sq ft and 17.4 million sq ft is under construction.
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