Sobha Developers to foray into more towns

After announcing its March quarter results, real estate firm Sobha Developers informed that it plans to expand operations in Kochi and Kozhikode besides foraying into new towns like Hyderabad and Noida or Ghaziabad region. JC Sharma, Vice-Chairman and MD of Sobha Developers informed that the firm has an order book worth Rs 5.34 billion to be executed in the next two years. It has a project pipeline of 8.9 million square feet for this fiscal. The firm will begin projects in Kochi and Kozhikode this year itself, said R Raman, VP of corporate communications, at Sobha Developers. The Bangalore-based firm launched new real estate projects totalling 2.64 million square feet during 2012-13. In 2012-13, the firm reported a profit after tax after adjusting the minority interests of Rs 2.17 billion, with top-line reaching Rs 18.70 billion.