Sobha forays into Gujarat with Rs500cr investment in GIFT city; Stock gain

Sobha Ltd, a Bengaluru based real estate company, said that it has entered into Gujarat with an investment of Rs500cr towards residential development in Gujarat International Finance Tech-City (GIFT City).

Apr 17, 2018 09:04 IST India Infoline News Service

Sobha LtdSobha Developersa Bengaluru based real estate company, said that it has entered into Gujarat with an investment of Rs500cr towards residential 
development in Gujarat International Finance Tech-City (GIFT City).

In a statement to the stock exchanges, Sobha said that it has marked its entry into Gujarat with a Rs500cr investment. With a total built-up area of 1.3mn.sq.ft, the company will be developing 1,000 housing units, in the fully integrated city built on the walk-to-walk concept. The investment is in-line with the company’s focus on developing affordable housing projects in major cities across country.

GIFT City is India’s first operational Smart City and International Financial Services Centre (IFSC). With this, Sobha will increase its residential footprint to 10 cities across the country.

Sobha Ltd is currently trading at Rs557.05 up by Rs6.8 or 1.24% from its previous closing of Rs550.25 on the BSE.

Related Story

Open Free Demat Account (Rs699)