Sobha Ltd shares traded higher on Tuesday after the company announced its entry into the Mumbai housing market with a new project featuring 310 apartments.
The Bengaluru-based developer said it has launched its first Mumbai project, SOBHA Inizio, which covers just over one acre. The development is being built in partnership with the landowner, with apartment prices starting around ₹2.8 crore and going up to ₹5.75 crore. The company hasn’t revealed the project cost or the expected revenue.
Sobha has already delivered more than 148 million square feet across 27 cities. It also reported its highest-ever sales bookings for the first half of the current financial year at ₹3,981 crore, up 30 percent from last year.
Q2 FY26 performance
Sobha posted a sharp jump in quarterly profit, touching ₹72.52 crore compared to ₹26.08 crore a year earlier. Total income for the July–September quarter rose to ₹1,469 crore from ₹965 crore in the same period last year.
Sales bookings for the quarter came in at ₹1,902.6 crore, up 61 percent year-on-year. The company sold 13.94 lakh square feet during the period at an average price of ₹13,648 per sq ft.
Last fiscal, Sobha reported a net profit of ₹94.68 crore on revenue of ₹4,162.75 crore and sold properties worth ₹6,276.5 crore.
