Sobha Developers has set up a joint venture with Tree Hill Estates of Kerala to implement a Rs 6 billion integrated township project in Thrissur in Kerala.

The joint venture has launched a special purpose vehicle (SPV) called Puzhakkal Developer to build a residential-cum-commercial infrastructure complex in the temple town.

The funding for the project would be sourced from both the partners, debt and booking amount collected from customers.
 
Sobha Developers has reported 49.34% increase in profit after taxation to Rs 457 million for the quarter ended Dec 31, 2006 (audited) as compared to Rs 306 million for the quarter ended Dec 31, 2005. Total income (net of excise) rose by 76.73% to Rs 2,985 million in the quarter ended Dec 31, 2006 from Rs 1,689 million for the quarter ended Dec 31, 2005.