Realty firm Sobha Ltd has entered into Mumbai housing market with its first project comprising 310 apartments.
In a statement on Monday, the Bengaluru-based company said that it has launched its first project in Mumbai 'SOBHA Inizio' spanning 1.038 acres.
The company would develop this project in partnership with the landowner. The prices range from Rs 2.8 crore to Rs 5.75 crore.
Sobha Ltd did not disclose the project cost and estimated revenue.
The company has so far delivered 148.02 million square feet of developable area across 27 Indian cities.
Sobha Ltd has achieved its highest-ever sales bookings during the first six months of this fiscal at Rs 3,981.4 crore, a growth of 30 per cent year-on-year.
Recently, Sobha reported a nearly three times increase in its consolidated net profit to Rs 72.52 crore in the second quarter of this fiscal on better income.
Its net profit stood at Rs 26.08 crore in the year-ago period.
Total income increased to Rs 1,469.3 crore in the July-September period of this fiscal from Rs 965.29 crore in the corresponding period of the preceding year.
Sobha Ltd, one of the leading real estate firms in the country, had posted a net profit of Rs 94.68 crore on a total income of Rs 4,162.75 crore in the 2024-25 fiscal. On the operational front, it sold properties worth Rs 6,276.5 crore last fiscal.
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