Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 4453.96 Crore) operating in Real Estate sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 588.90 Crore, down -15.42 % from last quarter Total Income of Rs 696.30 Crore and down -36.51 % from last year same quarter Total Income of Rs 927.60 Crore. Company reported net profit after tax of Rs 17.90 Crore in latest quarter.
Investment Rationale
The brokerage revises SOTP based target price to Rs 540/share (earlier Rs505) adjusting for lower net debt and cut rating to ADD from BUY post the recent run up in stock price. Key risks to the call are a slowdown in residential demand and rise in the company’s debt levels.
Promoter/FII Holdings
Promoters held 52 per cent stake in the company as of March 31, 2021, while FIIs held 18.1 per cent, DIIs 12.4 per cent and public and others 17.5 per cent.
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