15 October 2019

Table of Contents for Realty Biz





Interview-JC Sharma (Sobha Ltd)

Sobha targets to sell 4 million sq ft of new area during FY15-16

 

Since it was founded in 1995 by PNC Menon, Sobha Ltd has been offering superior construction which reflects the company’s vision to transform the way people perceive quality in housing. The company through its innovative approaches is now counted among the largest real estate companies in the country offering premium housing. JC SHARMA, VICE CHAIRMAN AND MANAGING DIRECTOR, SOBHA LTD responded to CONSTRUCTION OPPORTUNITIES’ queries on the company’s best construction practices and future growth agenda.

 

 

Briefly tell us about Sobha’s operational strategies since its inception which has contributed to building its unique brand identity in Indian realty space?

Sobha has been successful in setting industry benchmarks with regard to quality and on-time delivery. Backed with its unique model of backward integration, state-of-the-art manufacturing facilities, in-house architects, design studio and MEP (Mechanical, Electrical, & Plumbing) execution capabilities, the company believes in consistently delivering world-class designs and quality products to its customers as per its delivery schedules which ensures customer delight. Having its presence in 24 cities across the country, Sobha’s superior execution capability is its core strength. 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 believes and follows a ‘Passion at Work’ philosophy, due to which the company has won immense trust and confidence of its customers and stakeholders.

 

Could you offer details about the company’s operational and financial performance?

The company as on 31st March 2015 has sold 3,279,003 units and has 2525 acres of landbank in possession today. Sobha Ltd, a Rs25 billion company, is one of the fastest growing real estate players in the country. In the last fiscal, our EBITDA of Rs6.32 billion was up by 3 per cent YoY (year-on-year). Our projects are being funded through internal generation and customer advances.

 

Tell us about your landmark projects and its features which make it standout in the realty domain?

Sobha believes in giving a niche look to all its projects. Our project portfolio mainly consists of residential and contractual and a few commercial projects. Some of the landmark projects include Sobha City (Thrissur), Sobha Lifestyle Legacy and Sobha Indraprastha (Bengaluru), Sobha International City (New Delhi), and Infosys Global Education Centre II (Mysore). Sobha City is a mini metropolis in Thrissur that offers a world-class living experience in Kerala. Spread over 55 acres, it is also one of India’s most unique, innovative and meticulously planned self-contained residential enclaves. The project features a 6.5 acre manmade lake, the first-of-its-kind in the country for harvesting rainwater and providing potable water. Our Sobha Lifestyle Legacy is the second phase of the Lifestyle bouquet, a show-stopper of Sobha’s impressive array of homes. Located in Bengaluru the project is spread across an area of 55 acres. One of the upcoming projects, Sobha Indraprastha is central Bengaluru's tallest and ritziest residential tower. A sprawling 9.37 acre landscape with just 40% built-up area, Sobha Indraprastha has 356 Super luxury apartments and duplex penthouses, spacious enough to house king size living aspirations. Another upcoming project from the house of Sobha Limited, Sobha International City is a 150-acre exclusive villa community which is located in the vicinity of Indira Gandhi International Airport, New Delhi. The project offers presidential villas and duplex villas, along with perfectly planned roads and lush eco-system. In addition, our Infosys Global Education Centre II project at Mysore is the largest monolithic structure constructed in independent India with a built-up area of over 92,900 sq. m. (1 million sq. ft.) as a part of Sobha’s contractual business. Sobha has delivered over 30 million sq. ft to Infosys till date, which is a record for any contractor in the country.

 

Also, tell us about your ongoing projects in terms of their locations, size, investment and unique features?

Sobha Bela Encosta, is Sobha’s first project at Kozhikode in Kerala. The super luxury villa township derives its inspiration from Portuguese architecture and landscape. This is an exclusive gated villa community which offers 110 villas set in 25 acres.  This project is going to be the first of- its-kind project in Kozhikode. Our latest project in Pune is Sobha Elanza, a super luxury project. Spread across 4.5 acres, the two internationally designed towers of Sobha Elanza epitomise style and grandeur. The project blends modern city living with an idyllic natural setting. The company recently launched one of its most distinctive projects ‘Sobha Dream Acres’, under its new segment ‘Sobha Dream Series’ at Balagere, Bengaluru. This project is a unique residential development to cater to the aspirations of salaried professionals and perfectly suited to the requirements of nuclear families and those who prefer premium quality compact luxury homes replete with world-class amenities. The project has a total developable area of 10.26 million sq ft. Apart from these, we are also developing the one-of-its-kind resort styled luxury residential project, Sobha Silicon Oasis  near Bengaluru. The property greets its residents with a grand cascading water body that gives the feel of a tropical waterfall. The tropical foliage includes palms, ferns and lilies of myriad shades, making it an ideal setting.

 

Which are the key income groups targeted through your projects?

Our luxury projects cater to the upper and elite class group, whereas, the recently launched Sobha Dream Acres in Bengaluru caters to the mid-income group.

 

Tell us about your best construction practices or technology and special materials used in your projects?

Sobha is a unique real estate company in the world. It has in-house delivery capacity and a large manufacturing capability to support precast, concrete products, metal and glazing and interiors. The company uses best-in-class equipment and technology in all these divisions and follows strict safety standards and measures. Sobha has more than 200 in-house architects to design and execute its products. All buildings of Sobha qualify to Gold and Platinum ratings and are as per industry standards. Also, Sobha Ltd is the first developer in India to set up a precast plant to cater to its new project- Sobha Dream Acres and 7000 units of 650 sq. ft. and 1200 sq. ft. will be developed on precast technology at Bangalore.

 

As a company, what is your approach on environment and sustainability?

Sobha Ltd strongly believes in sustainability and all of our projects employ eco-friendly measures such as rain water harvesting, STPs and organic waste convertors. Our projects undertake rain water harvesting, reuse of storm water and grey water. The company has been in the forefront of making all its construction sites and surrounding localities water positive.

 

How has the company planned to strengthen its business this fiscal?

With the revival of the economy and industry absorption levels, the company is targeting to sell 4 million sq ft of new area during the financial year 2015-16. Sobha has a number of ongoing projects catering to customers across a wide spectrum of price-points, and will thereby continue to maintain its leadership position.




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