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Thursday, September 30, 2010

Sobha Developer to come up with 12 Million Square Feet of Residential Projects

Sobha Developers will launch about 12 million square feet of residential projects this fiscal year and has implemented selective price increases, according to a top company official.
“Prices have been stable. This quarter on, there have been selective price increases on some products,” managing director J C Sharma told the Reuters India Infrastructure Summit on Wednesday.
Of the 12 million square feet projects the company plans to launch, Sobha hopes to sell about 3 million in the year to March 2011, Sharma said.

The company, which has a significant presence in southern India, reported a surge in standalone net profit for the April-June quarter.

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