Sobha Ltd Expands Footprint with First Mumbai Housing Project

Realty firm Sobha Ltd has made a significant move by entering the Mumbai housing market with its first project, 'SOBHA Inizio,' which comprises 310 apartments. In a statement on Monday, the Bengaluru-based company announced the launch of this project, which spans 1.038 acres. The project will be developed in partnership with the landowner, and the prices of the apartments range from Rs 2.8 crore to Rs 5.75 crore.

Sobha Ltd did not disclose the project cost or estimated revenue. However, the company has a strong track record, having delivered 148.02 million square feet of developable area across 27 Indian cities. This new project in Mumbai is a strategic move to tap into one of India's most vibrant and dynamic real estate markets.

The company has achieved its highest-ever sales bookings during the first six months of this fiscal year, amounting to Rs 3,981.4 crore, marking a 30 percent year-on-year growth. Recently, Sobha reported a nearly three times increase in its consolidated net profit to Rs 72.52 crore in the second quarter of this fiscal year, up from Rs 26.08 crore in the same period last year. Total income increased to Rs 1,469.3 crore in the July-September period of this fiscal year from Rs 965.29 crore in the corresponding period of the previous year.

Sobha Ltd, one of the leading real estate firms in the country, had posted a net profit of Rs 94.68 crore on a total income of Rs 4,162.75 crore in the 2024-25 fiscal year. On the operational front, the company sold properties worth Rs 6,276.5 crore last fiscal year. This strong performance underscores Sobha's robust financial health and market leadership.

The launch of 'SOBHA Inizio' in Mumbai is a testament to the company's commitment to expanding its footprint and delivering high-quality residential projects. The project is expected to attract a diverse range of buyers, from young professionals to families looking for a well-located, premium residential option in Mumbai.

Sobha Ltd's entry into the Mumbai market is not just a strategic move but also a reflection of the company's confidence in the city's real estate sector. Mumbai, known for its economic dynamism and high demand for quality housing, presents a lucrative opportunity for Sobha to further strengthen its market position and deliver value to its stakeholders.