24 October 2019

Table of Contents for Realty Biz





Realty Biz

Lording over luxe

 

A brainchild of PNC Menon, Bengaluru based real estate major Sobha Ltd has left its footprint in 24 cities and 13 states across India.

With over 35 years of building palaces as well as luxurious villas and hotels in the Middle-East behind him, PNC Menon embarked on his real estate entrepreneurial journey in India in the year 1994. At a time when the country’s construction industry was still at its nascent stage, Menon introduced world-class quality construction at truly affordable prices with focus on timely delivery. This gave birth to Sobha Ltd in 1995, which is today one of the fastest growing and foremost backward integrated real estate players in the country. Primarily focused on residential and contractual projects, the company also lays strong emphasis on environmental management, water harvesting and highest safety standards in all its projects.

 

FISCAL PERFORMANCE

On a consolidated basis, the realty major registered a turnover of Rs.5.09 billion during the 4th Quarter of FY 2014-15, which ended 31st March, 2015. The Profit before Tax (PBT) stood at Rs.955 million, while the Profit after Tax (PAT) was Rs.616 million on a consolidated basis. For the financial year ended March 31, 2015, the Company registered a turnover of Rs.24.55 billion on a consolidated basis. The PBT stood at Rs.3.72 billion, and the PAT was Rs.2.38 billion. Furthermore, the company’s top line recorded a double-digit growth. The overall revenues were up by 12 per cent YoY at Rs.24.55 billion on a consolidated basis. It is also significant that the contractual and manufacturing business have generated highest ever revenues of Rs.7.96 billion which is up by 23 per cent YoY. The company launched a total of 14.12 million sq ft of developable area and 10.74 million sq ft of saleable area in FY15. The Group also successfully completed and handed-over 10 real estate projects and 15 contractual projects aggregating to 7.61 million sq ft of developable area.

 

NEW LAUNCHES

Marking its foray into the compact luxury housing segments, Sobha Ltd launched its Sobha Dream Acres, the first of its kind segment, Sobha Dream Series in Bengaluru. With a total developable area of 10.65 million sq ft, ‘Sobha Dream Acres’ is a residential development and aims to cater the aspirations of salaried professionals, nuclear families and people preferring housing units with world-class amenities. Sobha Dream Acres is spread on a total land area of 81 acres and comprises of 1 BHK and 2 BHK units with super built-up area (SBA) ranging from 650 to 1000 and to 1,200 sq ft.
 

TECHNOLOGY PUSH

A unique feature of this project which makes it different from the company’s other projects is the use of precast technology.  The state-of-the-art ‘Sobha Precast’ plant will allow modular structures to be built and assembled with ease by means of mechanisation and thus help reduce delivery timelines. The technology is time tested, safe, is eco-friendly and drastically reduces the number of processes involved in the construction methodology vis-à-vis conventional methods. The technology is also expected to help the project to be comparatively priced and optimally designed to suit different needs of the customers.

In addition, the company has also launched Sobha Winchester, a project showcasing British styled architecture in Chennai. The project has a total saleable area of 509,838 sq ft. Located at Thuraipakkam - Pallavaram Road, Sobha Winchester consists of 344 units comprising 3BHK to 4BHK of super luxury and 1BHK to 2.5 BHK of luxury apartments.

 

MASTERLY EXECUTION

Since inception, Sobha has completed 102 real estate projects and 262 contractual projects covering about 70.54 million sq ft of area. The company currently has ongoing residential projects aggregating to 41.81 million sq ft of developable area and 26.59 million sq ft of saleable area, and ongoing contractual projects aggregating to 9.31 million sq ft under various stages of construction. Sobha today enjoys its presence in nine cities viz. Bengaluru, Gurgaon, Chennai, Pune, Coimbatore, Thrissur, Calicut, Cochin and Mysore. The company, considering the macroeconomic environment and industry absorption levels, is looking to sell 4 million sq ft of new area valued at Rs.26 billion this fiscal.

 

KEY HIGHLIGHTS – Q4 FY’15

  • Revenues at Rs.5.09 billion on a consolidated basis
  • EBITDA of Rs.1.45 billion
  • PBT at Rs.955 million
  • PAT at Rs.616 million
  • Cash inflow of Rs.6.01 billion
  • Net operational cash flow of Rs.804 million
  • Registered new sales value of Rs.6.27 billion
  • Registered new sales volume of 1.03 million sq ft
  • Achieved average price realisation of Rs.6,092 per sq ft



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