Sobha Developers Ltd is planning to raise long term capital during FY10 to decrease its debt levels, the real estate developer informed in a statement on Monday.
The Bangalore-based company is also in talks with investors to develop some projects and is in the process of disposing land where projects cannot be launched in the near future, it wrote in the statement to the Bombay Stock Exchange.
The developer, which has projects in Karnataka, Kerala, Andhra Pradesh and Orissa amongst others, has 30 residential projects aggregating 9.3 million sq. ft. under construction.
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