Sobha Ltd Launches First Mumbai Housing Project: SOBHA Inizio

Sobha Ltd, a leading real estate firm, has announced its entry into the Mumbai housing market with its first project, SOBHA Inizio. The project, spanning 1.038 acres, includes 310 apartments and is priced between Rs 2.8 crore and Rs 5.75 crore. This strategic move marks a significant step for Sobha Ltd, which has been primarily active in 27 Indian cities.

In a statement, the Bengaluru-based company revealed that the project will be developed in partnership with the landowner. While the project cost and estimated revenue were not disclosed, the launch of SOBHA Inizio underscores Sobha Ltd's commitment to expanding its footprint in key metropolitan areas.

Sobha Ltd has a robust track record in the real estate sector, having delivered 148.02 million square feet of developable area across various cities. The company has also reported impressive financial performance, achieving its highest-ever sales bookings of Rs 3,981.4 crore in the first six months of the current fiscal year, a 30% year-on-year increase.

Recently, Sobha Ltd announced a significant boost in its consolidated net profit, which tripled to Rs 72.52 crore in the second quarter of the fiscal year. This growth is attributed to better income, with the company's total income increasing to Rs 1,469.3 crore in the July-September period, up from Rs 965.29 crore in the same period last year.

The company's strong operational performance is evident from its financial results. In the fiscal year 2024-25, Sobha Ltd posted a net profit of Rs 94.68 crore on a total income of Rs 4,162.75 crore. On the operational front, it sold properties worth Rs 6,276.5 crore last fiscal.

The launch of SOBHA Inizio in Mumbai is expected to further solidify Sobha Ltd's position in the real estate market and capitalize on the growing demand for high-quality residential projects in the city. With a focus on delivering premium living experiences, the project is poised to attract a diverse range of homebuyers, from young professionals to families looking for modern, comfortable homes.

Sobha Ltd's expansion into Mumbai reflects the company's strategic vision to diversify its portfolio and tap into new markets. The company's commitment to quality and customer satisfaction is evident in its track record of successful projects and strong financial performance. As the real estate market continues to evolve, Sobha Ltd is well-positioned to meet the evolving needs of homebuyers and investors.

The company's entry into Mumbai's housing market is a testament to its ability to adapt and thrive in competitive environments. With SOBHA Inizio, Sobha Ltd is setting a new benchmark for residential projects in the city, offering a blend of luxury, convenience, and affordability. The project is expected to be a significant addition to Mumbai's real estate landscape and a promising opportunity for homebuyers and investors alike.