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News Topical, Digital Desk : Realty company Sobha Ltd has entered the Mumbai housing market with its first project comprising 310 apartments. In a statement on Monday, the Bengaluru-based company said it has launched its first project in Mumbai, 'SOBHA Inizio,' spread over 1.038 acres. The company will develop the project in partnership with the landowner. Apartment prices will range from ₹2.8 crore to ₹5.75 crore. Sobha Ltd did not disclose the project's cost or estimated revenue.
The company has so far delivered 148.02 million sq ft of development area across 27 cities in the country. In the first half of the current financial year, Sobha recorded its highest ever sales bookings of ₹3981.4 crore, a growth of 30% year-on-year.
Almost three-fold increase in profit Recently, Sobha reported almost three-fold increase in its consolidated net profit to ₹72.52 crore in the second quarter of this financial year due to better income. Its net profit during the same period last year was ₹26.08 crore.
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