Bengaluru-based company said that it has launched its first project in Mumbai 'SOBHA Inizio' spanning 1.038 acres.
While Sobha Developers' net profit rose 180% in September quarter, CEAT posted 53% jump in PAT in Q2
Around 30 fund houses currently hold some exposure to real estate, with some mutual funds - including Bandhan AMC - overweight on the sector, citing improved balance sheets, disciplined developers, and selective land acquisition.
Anamudi Real Estates holds 9.99 percent stake in the real estate company
Sobha Limited’s board has approved the offer and issuance of equity shares of the company for Rs 2,000 crore through a rights issue. The rights issue price was set at Rs 1,651 per equity share, a discount of 25 percent.
In the September quarter, Sobha recorded its highest quarterly sales at Rs 1,724 crore, up 26.1 percent from the previous year, while Macrotech reported best-ever quarterly pre-sales of Rs 3,530 crore