PNC Menon and son Ravi of the Sobha Group will focus on Dubai, US and India in the next 15 years
PNC Menon, founder, Sobha Group
Image: Vikas Khot
Since he first forayed into India’s real estate sector in 1995, PNC Menon has built the Sobha Group, named after his wife, into a global luxury real estate powerhouse. His Sobha Limited, the Indian arm, has a market capitalisation in excess of ₹20,000 crore while his Dubai-based Sobha Realty clocks in annual revenues of AED 6.5 billion, emerging as the third largest real estate player in Dubai in less than a decade.
Much of Menon’s success has been attributed to the group’s backward integration model, something he claims has been recognised as a case study at Harvard Business School. Under the model, the company manufactures everything from facades to furniture and concrete, and has phased out outsourced vendors typical for real estate developers to ensure quality and timely completion.
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In an interview with Forbes India at Sobha Hartland, the group’s flagship property in Dubai, Menon and his son, Ravi PNC Menon, chairman of Sobha Limited and co-chairman of Sobha Realty, spoke about the group’s India expansion plans, foray into the US, and jewellery business. Excerpts:
Q. How do you look back at your journey, beginning from Palakkad in Kerala?Â
(This story appears in the 26 July, 2024 issue
of Forbes India. To visit our Archives, click here.)