Is there such a big story behind that ₹100 crore donation?!
The Sobha Group, which operates out of Dubai, and Sobha Limited, which operates from Bengaluru, belong to the same group of companies. Sobha Limited is one of the most reputed real estate firms in India. It is known that Andhra Pradesh Chief Minister Chandrababu Naidu recently visited Dubai in preparation for the upcoming investors’ summit scheduled next month. During his visit, he also met with Ravi PNC Menon, Chairman of the Sobha Group, which operates from Dubai. At that meeting, Ravi Menon announced that he was ready to contribute ₹100 crore towards the establishment of a world-class library in the new capital city of Andhra Pradesh — Amaravati. The Andhra Pradesh government has also officially confirmed this announcement.
Setting up a world-class library in Amaravati with an investment of ₹100 crore is indeed a significant and positive development. However, officials say that so far, the Sobha Group has not undertaken any projects in Andhra Pradesh. Authorities point out that no corporate company donates hundreds of crores without any return — hence, there is speculation that the government may sign an agreement with this company during the upcoming investors’ summit to allocate large tracts of land in both Visakhapatnam and the new capital Amaravati. A senior official revealed that this donation announcement appears to be part of that broader understanding.
It is also being said that the company is likely to be allotted land in both Visakhapatnam and Amaravati. It is already known that recently, the Bengaluru-based real estate company Sattva was also allotted land worth hundreds of crores at very low prices. Now, it remains to be seen how much land bank the Sobha Group will secure in return for its ₹100 crore “donation.” Meanwhile, Chief Minister Chandrababu Naidu and Minister Nara Lokesh are reportedly following a well-planned strategy of transferring state resources to private companies, while promoting the narrative that it is due to their efforts that projects and investments are coming into the state.
