Sobha Ltd Makes Bold Foray Into Mumbai Housing Market with Landmark Project

Sobha Ltd, a leading real estate firm, has entered the Mumbai housing market with its first project, SOBHA Inizio, comprising 310 apartments. The Bengaluru-based company's venture spans 1.038 acres. The move follows its highest-ever sales bookings, showcasing significant growth amid rising net profits and income.

Sobha Ltd, a prominent player in the real estate sector, marks its entry into Mumbai's housing market with the launch of SOBHA Inizio, a residential project of 310 apartments. This strategic expansion covers 1.038 acres, highlighting the company's ambition to further its footprint in metropolitan areas.

In partnership with the landowner, Sobha Ltd offers units priced between Rs 2.8 crore and Rs 5.75 crore. While the project cost and estimated revenue remain undisclosed, the venture aligns with the firm's history of delivering over 148 million square feet across 27 cities in India.

Recently reporting a near tripling of net profit in the second quarter, Sobha Ltd's revenue rose, reaching Rs 1,469.3 crore. With operational success marked by Rs 6,276.5 crore worth of sales last fiscal, the company continues to demonstrate formidable growth and market presence.

(With inputs from agencies.)