SOBHA Limited claims to have achieved best ever quarterly sales volume of 1.13 million square feet of Super Built up Area valued at INR 8.88 billion, with an average price realization of INR 7,830 per square feet during Q3-21. Sales volume, total sales value and Sobha share of sales value during Q3-21 were up by 27% ,29% , 28% respectively as compared to Q2-21.
Catering to India’s housing demand, SOBHA is the only Indian real estate company to make it to this prestigious list of growth drivers for the APAC region among other construction companies listed. The evaluation was based on companies having: revenue of at least $100,000 generated in 2015; revenue of at least $1m generated in 2018; being independent; headquartered in one of 11 territories in Asia-Pacific (Japan, South Korea, India, Australia, Hong Kong, Taiwan, Singapore, New Zealand, Malaysia, Indonesia and the Philippines) and whose revenue growth between 2015 and 2018 was primarily organic.
The three-day exclusive window scheduled from December 14th to December 16thDecember 2019 will feature free-to-listen knowledge sessions from SOBHA’s top leadership team, industry guests and patrons, helping home buyers take smart decisions. The bookings at this online Expo is live from November 23rd November, 2019 onwards on the link www.sobha.com/click2buy.
GIFT City is located on the banks of Sabarmati River, connecting the business capital (Ahmedabad) and the political capital (Gandhinagar) of Gujarat State. It is spread over 886 acres of land. It features world-class infrastructure such as district cooling system, underground utility tunnel, automated waste collection which are being implemented first time in India. The city is designed for walkability and includes commercial, residential, school, club etc. Presently, around 200 companies are operational at GIFT City, employing around 9,000 people.
The last few years have witnessed increasing focus on the affordable housing segment.It remains a key segment for the Government towards its mission of ‘housing for all’. To provide further impetus to affordable housing segment, the Government has sanctioned over 81 lakh homes under PMAY Urban scheme with an investment of about 4.83 lakh crore.
Marine Drive is a picturesque promenade in Kochi that is facing the backwaters. It is one of the most popular hang out for the residents of the city as well as tourists due to the magnificent view of the backwaters and Kochi Harbor. The walkway is perfect to enjoy a relaxing stroll at any time of the day and hence a property on this stretch is high on the wish list.
This was also the first quarter where the new accounting standard of IND AS 115 was followed by the company, which uses the project completion method instead of the existing percentage completion method. While some fluctuations in reporting the income are expected, there is no impact on the company’s cash flow or income tax liability, as the company continues to follow percentage completion method under Income Computation and Disclosure Standards (ICDS) for income tax purpose. In other words, it is a compliance requirement which will not have any impact on the overall business of the company. We are confident that on completion of some of the ongoing projects in this financial year, the overall income growth momentum will be maintained
The wedding, which is conducted twice a year, saw 20 couples tie the knot during the ceremony.As part of SOBHA’s CSR drive, the girls are selected from 7149 Below the Poverty Line (BPL) families in Vadakkenchery, Kizhakkenchery and Kannambra panchayats in Palakkad district.
The Sobha Creek Vistas residences are set in the most scenic views of the city’s main attractions like the Dubai Creek, the Ras Al Khor bird sanctuary, Downtown Dubai and the iconic Dubai canal.
With its footprint in GIFT City, India’s 1stOperational Smart City and International Financial Services Centre (IFSC), SOBHA increases increase its residential footprint to 10 cities in India.