Sobha Ltd builds launch pipeline of 14.23 million sq ft
New Delhi: Realty firm Sobha Ltd is planning to launch projects of 14.23 million square feet in different cities. The company has so far completed 58.74 million square feet of developable area in 158 projects till March 2020, it said in its investor presentation.
There is about 48.17 million square feet of total saleable area under Sobha Ltd. Sobha Ltd’s share in the saleable area is 44.56 million square feet. The total area sold by the company till 31 March 2020 is 29.98 million square feet.
For the commercial portfolio, the company is planning to launch 0.39 million square feet in Bengaluru.
Although the company has projects in Gurugram Kochi, Chennai, GIFT City, Thrissur, Pune, Kozhikode and Coimbatore, majority of the projects are in Bengaluru. The IT Capital of the country and company’s home market contributes over 74 percent of the sales of the company and it is Bengaluru where most f the new launches will come.
Considering the company has so far completed 58.74 million square feet and also looking at the present economic uncertainties due to the corona pandemic, company’s planned launches of 14.23 million square feet seems to be quite bold. The plans are especially significant in the light of the fact that the company expects sales cancellations to the tune of 1.93 million square feet because of the problems and economic upheaval caused by the pandemic.