Sobha Developers Net Profit Rises to ₹ 53 Crore
Published on Feb 10, 2013, 01:20 AM IST
In the upcoming financial year, the developer plans to venture into Kochi and Kozhikode in Kerala and the Noida-Ghazidabad region in UP and also exploring options in Hyderabad.
Sobha developers will benefit the most amongst others with rising house prices which leads to higher increase in the value of land as the company is more into housing play with less exposure in retail or commercial developments.
Sobha Developers Land Bank - Bangalore
Hoskote, Old Madras Road, Whitefield - 48.6 million sqft
Sarjapur Road, Marathahalli ORR, Electronic City - 19.2 million sqft
Kanakpura Road, Bannerghatta Road - 4 million Sqft
Hebbal, Yelahanka, Bangalore Airport - 5.4 million sqft
CBD - 1.3 million sqft
Mysore Road - 1.4 million sqft.
While the land at CBD was bought at ₹ 2500 per sqft, the rest averages to ₹ 300 per sqft. Assuming an average realization of ₹ 5000 per sqft and an average construction cost of ₹ 2250, one can imagine the margins. If you're holding shares of Sobha, it's time to accumulate. If Sobha is the preferred brand for your home or looking for a good home in any of the above stated areas, it's worthwhile to wait for a soft-launch.
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