Sobha Limited plans significant market expansion in India
The company is currently developing 50 projects covering 24 million sq ft of saleable area
Dec 09, 2014
Source : Business Standard


Pune: Bangalore based player is eying to double its size by adding new sales of 7 million sq feet. Also, with its unique backward integration model, Sobha is strengthening its position material suppliers market.

J C Sharma, vice chairman and managing director, Sobha said, "We have seen an improvement in the market sentiments post the formation of the new government. Despite this, the real estate sector is yet to be benefited by the positive change in the economic conditions. Given the current scenario, we are of the opinion that recovery is not far away for the real estate sector."

The company is currently developing 50 projects covering 24 million sq ft of saleable area. It has presence in 24 cities across 13 states.

He added, "We have a healthy pipeline of about 15 million square feet of new project launches planned in the next few quarters in our existing geographies. In addition to this, we have about 50 ongoing residential projects aggregating to 31.14 million square feet of developing area and 23.96 million square feet of sales area. On the contractual front, we have 31 ongoing projects covering 9.35 million square feet under various stages of construction. This is a mere indication of our delivery capabilities and we are hopeful that we will continue to cater to the emerging needs of the realty industry."

In Pune Sobha is expanding its footprints in Pune by developing new projects and tie ups with smaller developers here. The company has targeted to develop over one million square feet of area primarily in residential space.

Recently, it has announced a Rs 250 crore project in the city which will consist of three and four BHK apartments, duplex and a commercial lifestyle club.

Sobha Developers claims to be India's largest and the only real estate company to have a backward integration model which enables the company to manufacture all the key components used in construction in house; from concrete blocks to aluminum windows.

It includes an interiors division, a metal works and glazing factory, and a concrete products factory.

The companies include in backward integration processes are Sobha Glazing and Metal Works, Sobha Interiors, Sobha Restoplus (Spring Mattress) and Sobha Concrete Products.

It supplies the material to other real estate players as well.

The factories provide materials not just to meet the organisation's internal demands, but also to some of the real estate players, making them self-sufficient revenue generating entities for the company.

The company earns revenue of Rs 400 crore with these units.

Sobha Group has a presence in the UAE, Saudi Arabia and Oman.

Sobha Limited is Rs 2400 crore company with primary focus on residential and contractual projects.

Sobha is expected to grow to $1bn by 2020. Outside India, it is in excess of $1.5 of revenues.

Latest Realty News

Plea in HC against diversion of community land in Ghaziabad
Dec 08, 2014
GHAZIABAD: A public interest litigation (PIL) has been filed in the Allahabad High Court by a Ghaziabad residents' body seeking a ban on diversion of land reserved for community facilities
Independent floors: 4 builders get notice, more to follow
Dec 08, 2014
GURGAON: Following an order from the department of town and country planning (DTCP), the district town planner (enforcement)has issued notices to four builders
Survey finds 14,000 acres govt land in capital region
Dec 08, 2014
VIJAYAWADA: As much as 52,000 acres of farm land available, reveals a survey by Andhra Pradesh Govt, where it plans to build its new capital city
High Court directive to DLF to demolish some portions of complex
Dec 08, 2014
Kochi: In a blow to real estate major DLF, the Kerala High Court directed it to demolish certain portions of its apartment complex
Civic staff stay on in unsafe buildings
Dec 08, 2014
Bhubaneswar: The municipal corporation talks of cracking the whip on unsafe buildings but it has failed to convince its own employees to vacate three such dilapidated structures at Mulapadia colony in Old Town
Binny to enter realty business with 75-acre land bank
Dec 08, 2014
Chennai: Binny Limited, merging into itself Mohan Breweries and Distilleries, has set its focus on the real estate and liquor markets, with 75 acres available for the latter
Sahara to sell Mumbai, Jodhpur land parcels for Rs 1,251 crore
Dec 08, 2014
NEW DELHI: After selling land in Gurgaon for Rs 1,211 crore recently, Sahara group is believed to have finalised two more land parcels deals - one in Mumbai and another in Jodhpur - for over Rs 1,250 crore
Ashiana Housing to invest Rs 750 crore on new projects
Dec 08, 2014
NEW DELHI: Realty firm Ashiana Housing today said it will invest about Rs 750 crore in the next 3-4 years to develop four new housing projects in Haryana and Rajasthan
First of its kind degree in realty management
Dec 08, 2014
Mumbai: The RJ College of Art, Science and Commerce in Ghatkopar has become the first college in the country to offer a degree course in real estate management
NCR flat-buyers push for realty bill this session
Dec 08, 2014
NOIDA: Around 200 flat buyers of Noida, Gurgaon, Faridabad and Ghaziabad staged demonstrations at Jantar Mantar in New Delhi

Latest Realty News Of State

Realty Talk's