In an interview to CNBC-TV18, JC Sharma, Vice Chairman & MD of Sobha Developers informed that the NRI interest in the Indian real estate has been growing significantly.
JC Sharma, vice-chairman & MD, Sobha Developers, says that once the interest rates start declining, there will be a positive impact on the real estate sector.
In an interview with CNBC-TV18, JC Sharma, VC of Sobha Developers said the company is hopeful about sustaining the current margins and maintains its sales guidance of Rs 2,000 crore for FY13.
Sobha Developers has revealed its sales figures for Q1 and the company has posted a very good performance with a 26% increase in land sales year-on-year (YoY), with the figure standing at 840,000 sq ft. The value of revenues made in Q1 is up 58% YoY at Rs 480 crore.