Sobha Developers, a Bangalore-based real estate developer is eyeing to achieve new sales of Rs 1,500 crore in financial year 2011-12. The real estate developer also expects to sell over 3 million square feet of space in this financial year.
In the October-December 2011 quarter, the company has sold 818,935 square feet across the country with an average selling price of Rs 5,475 per square feet. The average selling price for half year ended September 30, 2011 was Rs 4,924 per square feet.
Of the total 818,935 square feet sold in the quarter, Bangalore had the largest share at 567,662 square feet, while the national capital region was next at 106,183 square feet.
Sobha Developers is an established player in the real estate development and contract construction in Bangalore.