New Delhi, Oct 19 (PTI) Realty firm Sobha Ltd will launch residential projects worth ₹22,000 crore over the next 18 months across many cities to expand business.
According to a latest investors presentation, Sobha Ltd will launch 13 projects across Bengaluru, Mumbai, Delhi-NCR, Pune, Chennai, Calicut, Thrissur and Trivandrum.
The company will launch 16 million sq ft area in these 13 projects with an estimated sales value of nearly ₹22,000 crore.
It would also launch two commercial projects with an area of 0.74 million square feet, taking the total forthcoming projects pipeline to 15 projects covering 16.7 million square feet of built up area.
Sobha Ltd reported a 61 per cent growth in its sales booking to ₹1,902.6 crore in the second quarter of this fiscal from ₹1,178.5 crore in the year-ago period.
It sold 13.94 lakh square feet area during the July-September period of this fiscal at an average price realisation of ₹13,648 per square feet.
Sobha Ltd achieved its highest-ever sales bookings during the first six months of this fiscal at ₹3,981.4 crore, a growth of 30 per cent year-on-year.
Jagadish Nangineni, Managing Director of Sobha Ltd, said the growth in pre-sales reflects the steady demand for luxury residential real estate in a growth economy, with improving macroeconomic parameters and timely government interventions.
He said the company completed 2.25 million sq ft (1185 homes) in the first half of the 2025-26 fiscal.
“With a clear pipeline of 16.69 million sq ft of future launches in the next six quarters, strong balance sheet and a stable demand environment, we are well positioned for growth and to capitalise on potential opportunities,” Nangineni said.
On Friday, Sobha reported a nearly three times increase in its consolidated net profit to ₹72.52 crore in the second quarter of this fiscal on better income.
Its net profit stood at ₹26.08 crore in the year-ago period.
Total income increased to ₹1,469.3 crore in the July-September period of this fiscal from ₹965.29 crore in the corresponding period of the preceding year.
Bengaluru-based Sobha Ltd, one of the leading real estate firms in the country, had posted a net profit of ₹94.68 crore on a total income of ₹4,162.75 crore in the 2024-25 fiscal. On the operational front, it sold properties worth ₹6,276.5 crore last fiscal.
Sobha has so far delivered 148.02 million square feet of developable area across 27 Indian cities.