Ravi PNC Menon resigns as a full-time director at Sobha Limited

According to a BSE statement by Sobha Realty, Ravi PNC Menon, the company’s full-time director, has resigned from his role, effective from March 31, 2023, due to some commitments and personal reasons. He will continue to serve as a non-executive non-independent director of the firm starting on April 1, 2023. He will continue to serve as the company's chairman (non-executive) subject to the board's permission.

While at Sobha Limited, Ravi PC Menon was responsible for overseeing the company's overall strategy, business development, and operations. He has been instrumental in driving the company's expansion into new markets and segments and has played a key role in the company's success. Prior to joining the company, he worked with several leading developers in India and the Middle East. Under his leadership, Sobha Limited won several awards and recognition for its projects and contributions to the real estate industry.

Sobha Limited is a leading real estate developer in India. The company was founded in 1995 by PNC Menon and is headquartered in Bangalore, India. Sobha Limited has developed several residential, commercial, and contractual projects across India and the Middle East.

Apart from its residential and commercial developments, Sobha Limited also provides contractual services such as civil engineering, mechanical, electrical, and plumbing (MEP), and interiors to clients in India and the Middle East. The company uses the latest technology and innovation to design and construct its projects. The company uses Building Information Modelling (BIM) technology to ensure accuracy in project design and execution.

Sobha Limited has received several awards and recognition for its projects and contributions to the real estate industry. The company has been awarded the 'Best Residential Project' award by CNBC Awaaz Real Estate Awards and the 'Most Reliable Builder' award by CNBC TV18.

The company's consolidated net profit decreased by 47.87% during the quarter that ended on December 31, 2022. Their profit after tax (PAT) decreased from Rs 61 crore in the third quarter of the previous fiscal to Rs 31.80 crore in Q3 FY23. Its consolidated total income increased by 38.15% to Rs 898 crore in Q3 FY23 from Rs 650 crore it reported in the same quarter last year.

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Ravi PNC Menon resigns as a full-time director at Sobha Limited

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