Founder makes way for son at Sobha Developers

As part of succession planning, P N C Menon, the founder chairman of Sobha Developers who led the company for 17 years, is stepping down to make way for his son Ravi Menon to be the chairman. The board of Sobha Developers in its meeting here on Saturday, appointed

P N C Menon as chairman emeritus. Ravi Menon, 31, takes over as chairman from his current position as co-chairman. He had graduated in civil engineering from the US' Purdue University.

During 2011-12, the company had delivered 5.22 million square feet. Its turnover tripled from Rs 465 crore in 2004-05 to Rs 1,402 crore in 2011-12.

According to the company’s website, it currently has 38 ongoing residential projects aggregating to 23.04 mn sq ft of developable area and 16.28 mn sq ft of Super Built-up area, and 47 ongoing contractual projects aggregating to 10.05 mn sq ft under various stages of construction.