Founded in 1995 by P.N.C. Menon, SOBHA Limited is an Indian multinational real estate developer. It has its headquarters in Bangalore, India, and has businesses of construction, development, sale, management and operation, townships, housing projects, commercial premises and other related activities.
It is a real estate company provides construction of residential and contractual projects. Since inception, SOBHA has delivered real estate projects and contractual projects covering about 100.31 million square feet of area. At present, it has ongoing real estate projects that aggregate about 39.09 million square feet of developable area and 27.23 million square feet of saleable area. It also has ongoing contractual projects aggregating to 8.89 million square feet under various stages of construction.
The company has also executed projects for some of India’s corporate houses, including Infosys, WIPRO, HCL, Dell, Bosch, Biocon, Taj Group of Hotels and ITC Hotels. SOBHA has real estate presence primarily in 9 Indian cities—Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Thrissur, Calicut, Cochin and Mysore. Overall, SOBHA has footprint in 26 cities and 13 states across India.
The company is also planning to invest INR 500 crore residential development in Gujarat International Finance Tec-City (GIFT City). They have achieved growth with backward integration in the construction and real estate development business in India. Their long-term performance has been supported by the in-house production of construction items and furniture. Internationally, Sobha Ltd has operations running in Oman with a footprint in Dubai as Sobha Realty.
Sobha has begun four manufacturing divisions – Glazing and Metal Works, Interiors, Restoplus (Spring Mattress) and Concrete Products.
According to SOBHA’s website, Menon’s goal was to transform the way people perceived quality in India. Today, SOBHA is the most trusted brand in Indian real estate and the only backward integrated real estate player in the country. The goodwill and customer loyalty that we command is a testament to our incessant focus on quality, customer centricity and business ethics. Today, SOBHA is renowned for its world-class products. SOBHA conforms to the ISO 9001, ISO 14001 and OHSAS 18001 certifications for our quality, safety and environment management systems.
Indian real estate sector is undergoing a massive transformation due to several landmark institutional reforms. Reforms like Real Estate (Regulation and Development) Act 2016 and GST (Goods and Services tax) will enhance sector’s credibility and bring increased focus on transparency and accountability. These initiatives have also created a level-playing field for organized players like SOBHA. They have helped in protecting homebuyer’s interest and in accelerated sector organization. The consumer demand has also been boosted with initiatives like the Credit Linked Subsidy Scheme (CLSS) for Middle and Lower Income Groups (MIG and LIG) under Pradhan Mantri Awas Yojana (PMAY). As the only backward integrated Real Estate Company in India, SOBHA is in the unique position of taking full advantage of these structural changes. We are confident that we will be able to capitalize on these changes and embark on a path of accelerated growth in coming years.