Sobha Developers, a Bangalore-based realty major focussed on residential space, is looking at diversifying its portfolio through slum redevelopment schemes and special economic zones (SEZs), retail and commercial projects.

Mr. Raghav Menon, Executive director, said that the company would build an SEZ in either Tamil Nadu or Kerala. He said, “We haven’t decided on the place yet. We will also enter retail and commercial project development”.

Mr. Menon said, Sobha is planning projects in Delhi, Hyderabad, Pune, Mysore, Kerala and Orissa. The Mysore project will kick off next month with an investment of hundred crore rupees.

In the next three years, the company has to pay Rs 660-crore loans taken for land acquisition. The developer has a land bank of 4,024 acre, most of which is in Bangalore.

Mr. Menon, however, denied that the company was facing liquidity crunch and said it was self-sufficient. He said, “We are not looking at private equity investment as of now. But we are looking for good projects for joint venture development”.

The executive director added that in the coming months, Sobha had planned investments of nearly Rs 200 crore into the projects.

About 33% of Sobha’s revenues come from its contractual business, under which it is developing 8.32 million square feet including IT parks commissioned by Bangalore-based software giant Infosys.