Q3FY11 one of the best in history: Sobha Developers

Elated on reporting the best quarter in the history, Sobha Developers has robust plans for expansion, reports CNBC-TV18.

Real estate firm Sobha Developers is planning to develop about 11 million square feet across both residential and commercial properties in the next two-three quarters, a top official said on Monday. It has 22 ongoing residential projects totalling 8.02 million sq ft, 6 commercial projects of 0.61 million sq. ft and 36 contractual projects of 6.53 million sq. ft. under various stages of construction, it said in a statement. Sobha Developers has announced its results for the quarter ended December 2010. It has reported standalone net profit of Rs 49 crore as against Rs 58.9 crore (QoQ). Standalone net sales declined to Rs 363 crore from Rs 425.7 crore (QoQ). For the full press conference watch the accompanying video.