This ruling came as the court allowed a petition filed by M/s Columbia Pacific Communities Pvt Ltd, Bengaluru, a company engaged in providing specialized senior-care services. The petitioner had been collecting common area maintenance charges from residents of Serene Urbana Apartments located in Kannamangala, Devanahalli.

Columbia Pacific Communities challenged a January 11 order issued by K-RERA, which had ruled that a complaint filed by the Serene Urbana Apartment Owners’ Welfare Association against Ozone Urbana Infra Developers Private Limited, the project developer, as well as the service provider and others, was maintainable.

The petitioner argued that the association’s disputes with the developer were unrelated to its role as a service provider and that it was unnecessarily dragged into the matter.

The complainant-association maintained that the service provider was collecting common area maintenance charges from apartment owners and insisted that its inclusion in the proceedings was essential, as the dispute with the developer could not be resolved without involving the petitioner.

After examining the records, Justice M. Nagaprasanna observed that the association’s complaint predominantly involved disputes with the developer, Ozone Urbana Infra Developers Private Limited.

The complaint sought to restrain the petitioner from mortgaging land, infrastructure, and assets, as well as from increasing common area maintenance charges until issues with the Serene Urbana Project were resolved. The judge noted that most of the prayers in the complaint were directed at the developer and other respondents, with only ancillary requests involving the petitioner.

The court highlighted that the petitioner’s agreements with individual apartment owners were limited to providing specific services, as outlined in the “services agreement.” Justice Nagaprasanna remarked that the petitioner had no obligations concerning the development or other activities of the apartment complex. Consequently, the court held that the petitioner could not be held liable for the liabilities of the apartment owners or the developer.

The court emphasized that the petitioner was being unfairly implicated in the proceedings due to disputes unrelated to its role. “For the folly of others, the petitioner is sought to be dragged into these proceedings. In the considered view of this court, the complaint against the petitioner, who is only a service provider, is not maintainable,” the judge stated.

In its ruling, the High Court concluded that the complaint against Columbia Pacific Communities Pvt Ltd was not maintainable, affirming that the service provider could not be held accountable for the disputes between the apartment owners’ association and the developer.

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Quarter Highlights:

• Second highest ever Q2 Revenue since inception.
• Recorded footfalls of 4.51 lakhs.
• Bangalore Park recorded 1.96 lakhs footfalls, Kochi Park recorded 1.39 lakhs footfalls, Hyderabad Park recorded 0.92 lakhs footfalls and Bhubaneswar Park recorded 0.24 lakhs footfalls.

Half year Highlights:

• Recorded footfalls of 14.52 lakhs.
• Bangalore Park recorded 5.54 lakhs footfalls, Kochi Park recorded 4.14 lakhs footfalls, Hyderabad Park recorded 3.91 lakhs footfalls and Bhubaneswar Park recorded 0.93 lakhs footfalls.

Quarter Update:

• Footfalls for the second quarter ended September 30, 2024, were 4.51 lakhs, as against 4.96 lakhs during the corresponding period of the last financial year.
• Gross revenue for the second quarter ended on September 30, 2024, was Rs.71.23 crores, marking a 13% de-growth compared to Rs.81.41 crore achieved in the corresponding period of the last financial year.
• EBITDA for the second quarter ended September 30, 2024, was Rs.2.75 crores, marking a 90% de-growth compared to Rs.26.65 crore achieved in the corresponding period of the last financial year. This is primarily due to increased marketing expenses and expanded recruitment efforts aimed at building long-term brand value, raising awareness for the new park, and supporting Wonderla’s ambitious expansion plans.
• Adjusted EBITDA for the second quarter ended September 30, 2024, was Rs.4.74 crores, marking an 82% de-growth compared to Rs.26.65 crore achieved in the corresponding period of the last financial year.
• Profit after tax for the second quarter ended September 30, 2024, was Rs.14.72 crores, marking a 9% growth compared to Rs.13.52 crore achieved in the corresponding period of the last financial year.

Half year Update:

• Footfalls for the half year ended September 30, 2024, were 14.52 lakhs, as against 15.98 lakhs during the corresponding period of the last financial year.
• Gross revenue for the half year ended on September 30, 2024, was Rs.248.69 crores, marking an 8% de-growth compared to Rs.271.67 crore achieved in the corresponding period of the last financial year.
• EBITDA for the half year ended September 30, 2024, was Rs. 98.71 crores, marking a 34% de-growth compared to Rs.149.15 crore achieved in the corresponding period of the last financial year.
• Adjusted EBITDA for the half year ended September 30, 2024, was Rs.106.54 crores, a 29% de-growth compared to Rs.149.15 crore achieved in the corresponding period of the last financial year.
• Profit after tax for the half year ended September 30, 2024, was Rs.77.96 crores, marking a 20% de-growth compared to Rs.97.99 crore achieved in the corresponding period of the last financial year.

Business Outlook:

Commenting on the performance during the quarter, Mr. Arun K Chittilappilly, Managing Director, Wonderla Holidays Ltd., said “Wonderla’s achievement of its second-highest Q2 revenue since inception highlights the brand’s resilience and appeal, even in a dynamic market environment. This quarter’s footfall of 4.51 lakh reflects our dedicated efforts across Bangalore, Kochi, Hyderabad, and Bhubaneswar, despite challenges from shifting consumer preferences and natural disruptions, including landslides in Kerala and floods in Andhra Pradesh and Telangana. Each park made significant contributions, underscoring Wonderla’s regional strength and the sustained popularity of our offerings.

A significant milestone this quarter was the grand opening of Wonderla Bhubaneswar, inaugurated by the Deputy Chief Minister of Odisha, which has expanded our footprint and strengthened our presence in Eastern India.

While discretionary spending showed caution, our strategic emphasis on growing non-ticket revenue and engaging higher-value visitors has supported profitability. This quarter also saw a notable rise in online bookings especially across our established parks in Bangalore, Kochi, and Hyderabad compared to the same period last year. This aligns with Wonderla’s focused efforts to expand its online presence each year. Wonderla remains steadfast in delivering world-class experiences and adapting to shifting market trends. Our ongoing commitment to innovation and operational resilience not only reinforces current growth but positions Wonderla to capture new opportunities within India’s expanding amusement and entertainment sector.”

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Bengaluru, November 04, 2024: NBR Group, a renowned name in Bengaluru’s real estate landscape for over 25 years, has unveiled a new logo and brand tagline “Elevate to Extraordinary”, as it moves from mid-segment homes to luxury hi-rise gated community living. This transformation underscores the company’s commitment to excellence in urban living.

With an impressive portfolio that includes diverse residential and real-estate developments, NBR Group has sold over 12 million square feet of residential space and cultivated a loyal customer base of more than 7,000 homeowners.

The new logo symbolizes clear specific communication with bold letters symbolic of building new-age futuristic construction providing aspirational lifestyles and the dedication to creating gated communities that emphasize modern amenities, open spaces, and high-quality infrastructure.

The enhanced brand identity highlights a strong commitment to sustainability and contemporary luxury design, ensuring that every project meets the aspirations of discerning residents.

NBR Group’s royal blue color represents trust, reliability, and sophistication, the main three pillars that resonate deeply with NBR Group’s vision.

The vibrant and bold shade not only enhances the visual identity but also reflects the company’s ambition to provide a premium living experience that meets global standards.

Royal blue serves as a symbol of the luxurious lifestyle NBR Group aims to create for its customers, embodying both elegance and stability.

“Elevate to Extraordinary” embodies NBR Group’s focus on delivering high standards and demonstrates the strong reputation it has cultivated over two decades in the industry.

This commitment extends beyond customers to include employees and stakeholders, ensuring that every project not only meets but exceeds expectations.

This new approach of the brand is focused on providing the highest standards of living, integrating global trends and high-caliber craftsmanship to create vibrant, modern communities for new-age homebuyers.

The company has also secured around 10 acres of land parcel in one of Bengaluru’s most prestigious suburbs, setting the stage for the development of a luxurious high-rise residential project valued at over Rs. 1200 crore. With this approach, NBR Group aims to reinforce its commitment to quality.

On this occasion, Mr. Nagabhushan Reddy, Managing Director & Founder, of NBR Group stated, “NBR Group’s journey has been defined by our commitment to transformation and quality, always aligning with the evolving preferences of our customers.

Our new brand identity signifies a pivotal moment that reflects the contemporary luxury standards we aim to uphold. The tagline “Elevate to Extraordinary” underscores our dedication to creating exceptional living experiences, not just homes.

As we expand into the luxury high-rise segment, integrating global trends and aesthetics into our developments will remain central to our mission.”

The rebranding comes as NBR Group continues its expansion into the luxury segment, reaffirming its position as a leader in residential development. For more information about NBR Group and its latest projects, please visit NBR Group’s Website.

About NBR Group:

NBR Group has been a cornerstone of Bengaluru’s real estate market for over 25 years. Renowned for its commitment to masterful construction and customer satisfaction, NBR Group specializes in developing gated communities that blend modern living with sustainability. The company remains dedicated to enhancing urban living experiences through innovative solutions.

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The court has ordered the company to hand over all the documents and also compensate the borrower with over Rs 1.3 lakh. C Sathyanathan, a 58-year-old resident of MSR Nagar in Bengaluru, took a loan of Rs 60 lakh from CanFin Homes Ltd in September 2014, at an interest rate of 11.20% per annum.

The loan, meant for purchasing a plot and constructing a house, had a 15-year repayment tenure with a monthly EMI of Rs 68,965. However, after quitting his job and utilizing his pension and savings, Sathyanathan decided to clear the entire loan in 2018 to focus on other family responsibilities.

In September 2018, he requested the return of his property documents from CanFin Homes, but the company failed to respond to his request.

Frustrated after waiting for a year, Sathyanathan approached the IV Additional District Consumer Disputes Redressal Commission in Bengaluru and filed a complaint, accusing CanFin Homes of withholding his original property documents despite the full repayment of the loan.

In its defense, CanFin Homes claimed that Sathyanathan still owed Rs 1.20 lakh as a penalty and had violated the loan agreement, which required him to purchase a site and build a house. They argued that although he had bought the land, no house had been constructed.

After reviewing all the evidence from both sides, the consumer court ruled that CanFin Homes had shown a deficiency in its services. The court determined that the company had failed to present sufficient evidence to support its claim that Sathyanathan still owed them money.

The commission ordered CanFin Homes to return the original title deed and other related documents to Sathyanathan.

Additionally, the company was directed to pay a fine of Rs 100 per day, from the date of the court order until the documents are returned.

The court further instructed the company to pay Rs 1 lakh as compensation for service deficiency, Rs 20,000 for mental distress caused to the complainant, and Rs 10,000 towards legal expenses.
The housing finance company has been given a 45-day deadline to comply with the court’s ruling.

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This marks our second collaboration with Brigade Group, following our purchase in Summit A on the 8th floor of the same development that has been running for the past 1 year.

Brigade Group is one of India’s leading property developers with nearly four decades of expertise in developing many landmark buildings and transforming skylines across nine cities. With over 280 buildings developed across Residential, Office, Retail, and Hotels, Brigade has delivered around 86 Million square feet.

Brigade Group is a leader in various real estate sectors including residential, commercial, retail, and hospitality with a well-established reputation in developing over 30 million square feet across major Indian cities.

This collaboration leverages Brigade’s legacy of quality and excellence, providing BHIVE with strategically located, premium real estate that supports its expansion and service offerings in key business areas.

Transforming the Business Landscape in Mahadevapura

Our new facility, located on the 7th floor of Summit B, is designed to support 1200+ seats and includes features like collaboration zones, tech-enabled conference rooms, dedicated parking spaces, etc. echoing BHIVE’s commitment to providing accessible and state-of-the-art managed office space solutions.

The location offers strategic advantages, as it is situated in a vibrant area known for its tech industry presence and excellent connectivity.

Visionary Expansion and Strategic Insights

“We are excited about strengthening our partnership with Brigade Group,” said Shesh Rao Paplikar, Founder and CEO of BHIVE Group.

“This new signing supports our strategic vision to enhance our presence across Bengaluru’s key business hubs. The location’s proximity to essential amenities and transport links like the Metro Station, which is just a minute’s walk away, positions us well to cater to top-tier businesses.”

Robust Growth and Future Projections

This lease is part of BHIVE’s broader strategy to expand our managed office space portfolio by an additional 1 million square feet during the current financial year.

Already, we have added two to three properties to our portfolio as part of this plan, significantly increasing our market presence.

BHIVE Workspace’s continued growth is supported by a strong financial performance with the company projecting a revenue target of ₹348 Crore for FY 2024-25, doubling our growth trajectory while maintaining profitability in the competitive managed office space market.

About BHIVE Workspace

BHIVE Workspace stands as a pioneer in the managed office space sector in India, offering an extensive network of prime locations near key metro stations in Bengaluru and Mumbai.

With more than 27 managed offices and enterprise coworking spaces encompassing over 1.8 million square feet and 46,000 seats, BHIVE serves a diverse clientele, including MNCs, entrepreneurs, and businesses of all sizes.

We are committed to further expanding our footprint, providing innovative workspace solutions that meet the evolving needs of modern businesses.

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BBMP officials have collected Rs 73.9 crore in the Bommanahalli zone, with Rs 82.77 crore outstanding. In Dasarahalli, Rs 16.37 crore has been gathered, while Rs 22.21 crore remains. The East zone has seen Rs 70.57 crore collected, with Rs 87.14 crore yet to be collected. In Mahadevapura, Rs 109.37 crore has been collected, leaving Rs 140.04 crore outstanding.

In RR Nagar, the collection stands at Rs 33.78 crore, with Rs 49.74 crore still to be collected. The South zone has received Rs 71.94 crore, awaiting Rs 96.63 crore. The West zone has collected Rs 50.83 crore, with Rs 97.18 crore remaining. In Yelahanka, Rs 36.27 crore has been collected, with Rs 49.16 crore still unpaid.

An official noted, “Despite the launch of OTS on February 27, which aimed to ease property tax burdens by waiving 50% of penalties and interest, many property owners with overdue taxes have not participated. So far, only Rs 463 crore has been collected, well below the expected Rs 1000 crore.

Out of 5.51 lakh property tax defaulters, only 1.52 lakh have settled their dues under the scheme, leaving 3.24 lakh defaulters yet to take advantage of the opportunity. The BBMP had hoped for significant tax revenue through this initiative but has faced a tepid response from taxpayers.”

Despite issuing notices to 3.95 lakh property owners for overdue taxes, only 70,000 have settled their dues. The majority of property owners have not responded to the notices. Additionally, 5 to 7 lakh properties are yet to be brought under the tax net.

“While some property owners have participated, many have not responded to the notices. The BBMP had anticipated a substantial increase in tax revenue through this scheme, but the response has been lukewarm,” added another official.

BBMP Chief Commissioner Tushar Giri Nath stated, “It is time to act now and take advantage of OTS. We are encouraging citizens to utilize the scheme before July 31.

Following a review meeting at the BBMP head office on Monday, we found that approximately 4 lakh property owners are eligible, with 80,000 having already settled their dues.

The remaining 3.20 lakh property owners have until July 31 to avail themselves of the scheme and clear their pending taxes. For any queries regarding OTS, including payment details and locations, you can dial the toll-free helpline at 1533 for assistance.”

Meanwhile, regular property tax collection has also been slow. Between April and June last year, the BBMP collected Rs 2,287 crore, whereas this year, up to July 7, only Rs 1,758 crore has been collected.

This marks a decrease of Rs 528 crore from the previous year. The implementation of the OTS scheme is attributed to this decline. As of July 7, the collection figures are Rs 139.22 crore in Yelahanka, Rs 398.79 crore in Mahadevapura, Rs 60.37 crore in Bommanahalli, Rs 125.95 crore in RR Nagar, Rs 203.85 crore in the South zone, Rs 211.54 crore in the East zone, and Rs 294.21 crore in Dasarahalli.

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The Lok Sabha elections caused a delay in the March OTS launch, according to BBMP officials. Through the program, officials want to produce between Rs 800 crore and Rs 1,000 crore annually.

According to Special Commissioner for Revenue Munish Moudgil, about 5-7 lakh properties in the city are not subject to property taxes. DK Shivakumar, the deputy chief minister, has issued an order to make them subject to taxes by offering them incentives.

Owners without a Khata can use the OTS facility till July 31. BBMP

Certain property owners were not paying property tax since they had not received khata from BBMP. These owners can apply online. “They can make payments using the provisional tax number we will give them. If they pay it by July 31, the last day of the OTS program, they can save a significant sum of tax penalty and interest, according to Moudgil.

After confirming the paperwork, revenue officials will issue a khata in three months. Any excess amount paid will be deducted from the tax for the following year by BBMP officials.

How it works: Using a mobile device and an OTP, the property owner will be able to log onto the BBMP property tax SAS system. The encumbrance certificate will be retrieved from KAVERI-2 based on the owner’s entry of the registered sale deed or transfer deed number and the property’s data. The property’s GPS coordinates, address, and photo should all be entered by the owner.

The property owner will be permitted to proceed and pay tax if there is a match between the purchaser’s name in the information collected from KAVERI-2 and the owner details obtained through Aadhaar.

If there is a discrepancy, the matter will be sent to an ARO or a designated officer for review and determination.
A temporary SAS (self-assessment scheme) number will be generated for the property in the system once the name match and other details are verified. After that, the owner can fill out Form 3 with information on how the property is used and pay property tax, interest, and penalties by current OTS regulations.

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Bengaluru, 24th May 2024: Trifecta Projects Private Limited, a renowned homegrown builder in Bengaluru, announces the launch of a new housing project, Trifecta Vanto.

This one-of-its-kind project is located in the prime area of Sarjapur Road in East Bengaluru. Slated to be completed by August 2027, the project is registered with RERA Karnataka.

Spread over 9.06 acres of land, the housing project comes with 825 units in two towers spanning 24 floors each. Homebuyers can choose from the inventory of 1 BHK, 2 BHK, 2.5 BHK (with a study room), and 3 BHK apartments with super built-up areas falling between 710 sq ft and 1340 sq ft.

Property prices range from Rs. 68.5 lakh for a 1 BHK and Rs. 1.02 crore for a 2 BHK to Rs. 1.09 – 1.15 crore for a 2.5 BHK and Rs. 1.24 crore for a 3 BHK.

Trifecta Vanto is 4.6 km from the Carmelaram Railway Station, with the Kempegowda International Airport directly accessible from the project via NH-44.

Various educational institutions such as DPS and Ryan International School, hospitals such as Manipal and Cloudnine Hospitals, and recreational zones including Total Mall & Innovative Multiplex lie within a 10 km radius of Trifecta Vanto. Additionally, the project has a prime location offering seamless connectivity to major IT hubs

Trifecta Vanto offers a wide array of world-class facilities to meet the standards and requirements of a modern lifestyle and provides the experience of community living.

A sprawling 50,000 sq ft Platinum Oasis Clubhouse offers amenities like a grocery store, salon, clinic, crèche, multipurpose hall, library, etc.

Additionally, it offers virtual golf, a sports court, a cafeteria, a mini theatre, a yoga/art studio, and a terrace party lawn. Residents can indulge in a range of recreational activities, including swimming, at the semi-Olympic-size pool and a wellness and fitness center that provides eco-friendly workout options.

With 85% open space, each unit in the society is designed to ensure optimal ventilation and natural airflow. With sustainability as its core foundation, the project embraces renewable energy with solar-powered common area lighting.

The society also has an external rainwater harvesting system to conserve water resources and promote eco-conscious living. In line with the sustainable mobility vision, EV charging provisions are further available in at least 30% of parking spaces to encourage residents to adopt eco-friendly transportation solutions.

Undeniably, with its eco-friendly design and strategic location, Trifecta Vanto sets a new benchmark for luxury living in Sarjapur Road, East Bengaluru.

“Today modern-day homebuyers are looking for state-of-the-art amenities and conveniences within the project. Trifecta Vanto strives to deliver the same through a range of facilities incorporated.

However, the cynosure is not just the gamut of luxury niceties; sustainability and environment-friendly features remain at the heart of Trifecta Vanto, offering residents a refuge amidst the bustling city life.

The project encompasses unparalleled heat-mitigation features and sustainable construction materials to offer long-term benefits to residents about utility bills”, says Mrs. Sarada Reddy, Co-Founder, of Trifecta Projects Pvt Ltd.

Sarjapur Road has observed a significant rate of appreciation, around 60%, in the last five years. With Trifecta Vanto, the area will further witness a real estate boom and will set high standards for luxury living.

About Trifecta Projects Private Limited

With over two decades of experience in residential and commercial development, the builder of Trifecta Vanto- Trifecta Projects Private Limited epitomizes excellence and innovation.

They blend modernism with sustainable practices to create an unparalleled living experience. Renowned for their commitment to quality, sustainability, and customer satisfaction, they have carved a niche for themselves in the real estate industry.

Their well-known residential projects include Trifecta Beaumonde, Trifecta Sollievo and Trifecta Esplanade in Whitefield, Trifecta Verde En Resplandor in Thirumenahalli, Trifecta Verdure and Trifecta Bueno in Sarjapura and Trifecta Starlight in Mahadevpura. Trifecta Adatto and Trifecta Fait Pour are commercial projects located in Mahadevpura in East Bengaluru.

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Approximately 3.63 lakh homes owed Rs 711.1 crore in taxes as of May 18. With 57,043 houses owing Rs 95 crore, Bommanahalli tops the list, followed by Rajarajeshwari Nagar with 55,073 properties owing Rs 54.31 crore.

Additionally, a difference of Rs 231.77 crore is expected to be paid by 1,66,557 properties.
“We are calling these defaulters and revising cases using an IVR system and sending them SMS messages every day.

They do not, however, make the overdue tax payments. Munish Moudgil, special commissioner of the BBMP (revenue), told TOI, “We will shortly begin special enforcement for recovery in accordance with the law.

Even though BBMP has previously made this list available to the public, many of the defaulters on it still do not pay their taxes. A significant source of funding for the BBMP is property tax, and the collection department faces ongoing difficulties because some properties have tax arrears dating back many years.

Even though BBMP has previously made this list available to the public, many of the defaulters on it still do not pay their taxes. A significant source of funding for the BBMP is property tax, and the collection department faces ongoing difficulties because some properties have tax arrears dating back many years.

Numerous defaulters on the BBMP’s list have routinely disregarded numerous warnings over an extended period of time. Many property owners continue to be oblivious to their tax duties in spite of the BBMP officials’ attempts to ensure compliance, which include sending notices, sealing properties, taking possession of inheritances and immovable property, and even seizing bank accounts.

Property tax defaulters’ zone-by-zone information (source: BBMP)
The bureaucratic procedure associated with these enforcement operations can be laborious and slow, which makes it more difficult for the BBMP to collect arrears.

“The defaulters bring a stay from the courts whenever we issue them notifications, which forces us to tie our hands. “What is the purpose of having a revenue cell if the stays prevent it from operating at its best?” Moudgil said.

In the hopes that many would pay up, we have so developed the OTS, a time settlement plan,” he continued.
A 5% discount is available under the scheme for payments made over a longer period of time.

Even with this incentive, many property owners are still averse to paying their debts, which is dishearteningly low compliance, according to Moudgil.

Property owners who have not paid their taxes on time have received several notifications. Form 13 has been sent out in response to those who disregard these letters, starting the process of entering BBMP’s claim into the Deputy Registrar’s office records.

The goal of this legal action is to impose a lien on the property, making it more difficult for owners to transfer or sell it without paying the overdue taxes.

“To improve accountability and transparency, we have made the list of the top defaulters available to the public. The BBMP intends to put pressure on the defaulters to make amends by identifying and publicly humiliating them. However, this strategy hasn’t always worked well, so it’s unclear if it will work better this time around, Moudgil continued.

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Bangalore, 7 February 2024

Sobha Limited (SOBHA) announced its financial results for the quarter ending December 31, 2023 (Q3FY24). Reported strong results with impressive sales and operational growth across all regions.

Brief highlights include:

• Achieved highest ever collection, realisation and sales value in Q3 and 9-month FY24
• Quarterly sales value of ₹19.52 bn, up 37.0% YOY and 13.2% from Q2-FY24.
• New sales area rose to 1.66 mn sft. from 1.48 mn sft. compared to Q3-FY23.
• Bengaluru achieved its highest-ever quarterly sales, totalling 1.25 mn. sft. valued at ₹14.99 bn.
• The Average Price Realization rose to ₹11,732 per sft. increase of 21.5% compared to Q3-FY23.
• Launched two new projects in Q3 with a total saleable area of 3.84 mn sft.
• Achieved highest ever quarterly Real Estate collection of ₹12.93 bn, up 11.8% YOY.
• Consistent positive cash flow resulted in reduction of net debt /equity ratio to 0.54
• Successfully completed 1.04 million sft. of SBA
• 9-month FY24 revenue was ₹24.26 bn, up by 12.2% from 9-month FY23.
• Q3-FY24 revenue was ₹7,137 mn.
• PAT was at ₹153 mn for Q3-FY24 and ₹131 mn for Q2-FY24. Up by 16.8%

Mr. Jagadish Nangineni, Managing Director, SOBHA Limited said, “In Q3 of this fiscal year, SOBHA achieved its highest-ever sales value and realization, driven by robust housing demand and the successful launch of SOBHA Neopolis in Bengaluru. Our steadfast dedication to delivering top-quality real estate has amplified the demand for SOBHA homes across all operating cities. With a keen focus on new launches and clear inventory visibility across projects at various stages, we are poised to execute our growth plans effectively. Our focus on cash flow and disciplined capital allocation strengthens our financial and operational capabilities while expanding our inventory for growth. Aided by a robust financial and operational model, we are well-positioned to leverage India’s positive and growth oriented socio-economic environment.”

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