This morning the IPO on Sobha Developers has opened in the market. Sobha Developers, are bsically banglore based leading real estate developers with focus on residential and contractual projects. Some of their premiere projects are the development work done in Infosys campus by these developers on contractual basis. The company has completed 21 residential (2.97 mn sq ft), 75 contractual and two commercial projects spread over 11.51 million sq ft till date. It currently has land reserve of an estimated 118 million sq ft (2,747 acres) of saleable area spread across 78 locations in seven cities, which it plans to execute over 7-10 years.
Sobha Developers currently have 15 ongoing and 13 future residential projects in Bangalore covering 10.14 million sqft of saleable area. The company is also currently executing 23 contractual projects such as school, hospital and IT parks in six states with a contract value of Rs 53 billion. Check them out at http://www.sobhadevelopers.com. and interesting point to mention about the group is that they run an inhout IT firm called Sobha Rennaisance (www.rennaiisance-it.com) which has some interesting offereings in their stable particularly on the Healthcare front .
Totally this scrip is a recommended buy for IPO enthusiasts who would like to see some short term gains in the market. Can expect at least 25 % returns on listing of the stock.
Powered by Qumana