ICRA upgrades ‘A-’ rating to Sobha Developers’ long-term limits

18 Sep 2013

Credit rating agency, ICRA has upgraded ‘A-’ rating to Sobha Developers’ Fund Based Working Capital Limits worth Rs 365.00 crore, Term Loans worth Rs 648.00 crore and Non Fund Based Working Capital Limits worth Rs 125.00 crore from ‘BBB+’  

Earlier, the company had launched ‘Sobha Bela Encosta Villa Project’ at Kozhikode in state of Kerala. Sobha Bela Encosta Villa Project presents the company’s first project in Kozhikode, which is a villa township - inspired by Portuguese architecture and landscape. The innovatively planned gated estate offers 113 villas set in 25 acres with 5 living options ranging from 3,600 square feet to 4,800 square feet. Each villa comes with covered car parks and a designer landscape.

Sobha has presence in seven cities -- Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Mysore and Thrissur. It has completed 83 projects aggregating to 20.78 million sq ft of saleable area and is presently developing 43 projects with 17.4 million sq ft of saleable area. 

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