The monthly revenue of Sobha Developers Ltd has reduced by more than half, from Rs120 crore to Rs 50 crore. The developer has been forced to cut its 3,000-strong workforce by about 30% as sales are down. However, with revenue from the real estate sector going down, the company's other source of income, its contractual business, has been the saving grace. "Unlike the real estate sector, the income from our contractual business has been steady and we don’t really have to look out for customers," said Mr. J.C. Sharma, managing director of the Bangalore-based company, which is expecting a Rs 400 crore turnover from the contractual business by 2010 and has completed over 120 contractual projects for various corporate customers such as Infosys.

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