Sobha Gets Top Honours in India’s First Ever Real Estate Best Practices Audit Report
Bangalore, Karnataka, India
After standing at the top of the Brand Rating for the last two consecutive years, Sobha Ltd. has yet again proved its market differentiation. The company has been ranked number one in Track2Realty’s Best Practices Report-2017 – one of the most credible works done by the country’s real estate think-tank group. This is first of its kind in-depth report on best practices prevalent in real estate sector in the country. As a matter of fact, out of the ten metrics that were evaluated in this study for “Best Practices” Sobha clinched top position on 6 of those.
The methodology employed towards this in-depth study was rigorous and versatile. Top 100 companies in real estate sector in the country were picked up and evaluated in this study. The companies were picked up based on their market size, market impact, market differentiation/contribution, investors’ choice and public perception. These companies were thereafter, evaluated on the defined metrics of: Fiscal Management, Execution, Market Depth, Consumer Connect, Transparent Deals, Functional Professionalism, Care, Employer, Communication and Desirable Practices.
Each of these metrics had 5-7 sub-metrics and the process of evaluation was based on rigorous in-house research, followed by detailed qualitative survey amongst the organized segment of investors, HNIs, NRIs and other influential stakeholders of the Indian real estate.
This was further sanitized with a pan-India public perception survey. A large sample size of 10,000 respondents were interviewed with a set of open-ended and close-ended questions to understand the consumer psychograph and outlook about these real estate companies.
Mr. Ravi Menon, Chairman, Sobha Ltd. was delighted when he said. “This recognition is extremely humbling. This has completely vindicated our company’s philosophy which was so thoughtfully delineated 22 years back by our founder Mr. PNC Menon. Sobha’s unique backward integrated model has proven its mettle time and again and has helped us to hold our head high even during times of deep distress. Thanks to our founder and his foresight that we continue to carry in his footsteps exuding perseverance, dexterity and resilience. And many thanks to all the stakeholders out there who have recognized the toil and efforts that we all Sobhaites put together to bring our customer’s dreams closer to them by making good quality homes delivered on time.”
Mr. J C Sharma, Vice Chairman & Managing Director, said, “Sobha Ltd. has been ranked number one with the metrics of Execution, Consumer Connect, Transparent Deals, Care, Communication and Desirable Practices. The cumulative ranking of Sobha Limited can easily earn the laurels of becoming a sort of case study of best practices in the Indian real estate. What has elevated the positioning of Sobha Limited is the fact that it has been way ahead of other developers in a 20-city public perception survey.”
Furthermore, he said, “In the backdrop of RERA, such incisive reports are most timely and relevant which will help large number of players to professionalize their services. This is indeed a laudable effort from the Track2Realty’s team as it serves as the beacon to all those companies which want to come up. This is also the time to note that Sobha is one of the most professionally run companies where engineering excellence, transparency, innovation and value creation are at the core of all its activities.”
At a time when the buzzword in the Indian real estate is the compelling need to adopt the best practices, followed globally, Track2Realty has released its first-ever best practices report on the Indian real estate market. This insightful report segregates the good from the bad practices and highlights those companies that are closer to adopting the best practices and those which have yet to gain ground.
Sobha has been the first among the 10 developers across the Indian markets that could get A+ (Outlook Positive) rating in Track2Realty Best Practices Report 2017. A few other developers could earn A Rating (Stable to Positive). Most of the other developers could at best earn B+ (Outlook Stable), while some of the large developers by market size could only stand at the bottom with B Rating (Negative to Stable) or C Rating (Outlook Negative).
About Sobha Limited
Founded in 1995, Sobha Limited is one of the fastest growing and foremost backward integrated real estate players in the country. It means that the company has all the key competencies and in-house resources to deliver a project from its conceptualization to completion. Sobha is primarily focused on residential and contractual projects. The Company’s residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes. In all its residential projects, the company lays strong emphasis on environmental management, water harvesting and highest safety standards. On the contractual projects side, the Company has constructed a variety of structures for corporates including offices, convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centres, and club houses. For more information on Sobha Limited, please visit: www.sobha.com