The Bangalore-based company real estate company Sobha Developers will invest Rs 250 crore to develop its property in Chennai..
According to Mr. J C Sharma, MD, Sobha Developers , "We will be launching in new areas. We will be launching in Chennai, where the property will be spread over 1 million sq ft. The investment cost for this is Rs 250 crore, We are expecting Rs 1,500 crore worth of new space sales (in the current fiscal) from Rs 1,100 crore last year."
The firm registered a net profit of Rs 182 crore in FY 11, an increase of 33%t from Rs 137 crore posted in the year ago period. Sobha sold 27.8 lakh sq.fet in FY11 as against 20.8 lakh sq.fet in the year ago period.
Its total debt stands at Rs 1,300 crore and it will repay close to 35% (Rs 450 crore) of the this year. Mr. J C Sharma, confirmed it.
According to Mr. J C Sharma, MD, Sobha Developers , "We will be launching in new areas. We will be launching in Chennai, where the property will be spread over 1 million sq ft. The investment cost for this is Rs 250 crore, We are expecting Rs 1,500 crore worth of new space sales (in the current fiscal) from Rs 1,100 crore last year."
The firm registered a net profit of Rs 182 crore in FY 11, an increase of 33%t from Rs 137 crore posted in the year ago period. Sobha sold 27.8 lakh sq.fet in FY11 as against 20.8 lakh sq.fet in the year ago period.
Its total debt stands at Rs 1,300 crore and it will repay close to 35% (Rs 450 crore) of the this year. Mr. J C Sharma, confirmed it.
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