Latest News on Sobha Limited

December 2022: The Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 201.60 crores under the Prevention of Money Laundering Act (PMLA) in connection with Sobha Limited. This action followed an FIR by the Haryana Police, alleging rule violations related to the Directorate of Town and Country Planning (DTCP) in Gurugram's Sobha International City. The case accuses Sobha Limited and other builders of selling plots meant for the No Profit, No Loss (NPNL) category at inflated prices. Chargesheets have been filed against Sobha Limited and individuals associated with the company.

October 2022: Sobha Limited reported a remarkable 13% increase in sales bookings, reaching approximately 1,164 crores during the second quarter of the fiscal year. This growth is significant compared to the previous year's corresponding quarter, which saw sales bookings of around 1,030 crores, despite a reduction in the total area sold.

About Sobha Limited

Sobha Limited, formerly known as Sobha Builders, is a renowned Bangalore-based construction company. Founded in 1995 by PNC Menon, the company has earned a solid reputation in India's competitive construction and development industry. Sobha Limited is known for its commitment to timely project completion, high-quality construction, and innovative design. Their projects are strategically located in prime and emerging areas.

Over the years, Sobha Limited has expanded its footprint beyond Bangalore to key cities like Delhi-NCR, Chennai, Mysuru, Kochi, Pune, and more. The company has received accolades such as the CREDAI Awards for Real Estate in 2019 and the Dun & Bradstreet Corporate Awards 2019. Their diverse portfolio includes residential projects, contractual projects, architectural expertise, turn-key solutions, interior design studio, structural steelworks & glazing, block-making factory, woodwork joinery, M&E design & execution, and project execution & management.

Operating in 24 cities across 13 states, Sobha Limited has garnered a loyal clientele that includes corporate giants like Infosys, Bosch, Taj Group, Dell, and Biocon. The company's subsidiaries, including Sobha Developers, Sobha Plots, Sobha Villa, and Sobha Apartments, cater to various formats of residential properties. To date, Sobha Limited has successfully completed 118 projects, with 38 ongoing projects and 4 upcoming ones.

Sobha Limited: Ongoing Projects

Here are some notable ongoing projects by Sobha Limited:

1. Sobha Dream Gardens: Nestled in the scenic Thanisandra, Bangalore, Sobha Dream Gardens offers well-ventilated and spacious flats at affordable prices. With 10 towers offering 1 and 2 BHK configurations and five layouts to choose from, residents can enjoy modern amenities for comfortable living.

2. Sobha AVALON: Located in the GIFT City of Gandhinagar, Sobha AVALON aims to provide a healthy lifestyle. It offers 1, 2, and 3 BHK flats with various layouts and promises civic amenities and lifestyle facilities for all age groups.