Sobha Group Plans Grand Entry into Mumbai's Luxury Housing Market

The Sobha Group, a titan in the real estate industry, is poised to make a significant impact on Mumbai's luxury housing market. With an ambitious expansion strategy, the group aims to quadruple its annual sales bookings to an impressive ₹30,000 crore over the next 4-5 years.

A Legacy of Excellence

Founded in 1995, Sobha Group has established itself as a leading player in both the Indian and Dubai real estate markets. Since its listing on the Indian stock exchanges in 2006, the group has been synonymous with quality and innovation in South India’s real estate sector. Now, the company is setting its sights on Mumbai, one of India's most dynamic and competitive real estate markets.

Strategic Land Acquisition and Development

Sobha Group is exploring various avenues to acquire prime land parcels in the Mumbai region. These strategies include outright purchases, joint developments with landowners, and the redevelopment of existing housing societies. This multi-faceted approach ensures that the group can secure the best locations for its luxury projects.

Impressive Growth Trajectory

Sobha Group has set high growth targets for its Indian operations in the coming years. The company reported a 28% increase in sales bookings in the last financial year, reaching ₹6,644.1 crore, up from ₹5,197.8 crore the previous fiscal year. This robust growth is a testament to the group's strategic vision and execution.

Strengthening Financial Foundations

To support its ambitious expansion plans, Sobha Ltd is increasing its equity base from ₹2,500 crore to ₹4,500 crore. Additionally, the company is preparing to launch a ₹2,000 crore rights issue for existing shareholders. The promoters, who hold approximately 52% of the equity in Sobha Ltd, are committed to this growth trajectory.

Sobha Group’s entry into Mumbai’s luxury housing market is set to redefine the city’s real estate landscape, offering unparalleled quality and sophistication to discerning buyers.