Time period given by analyst is one year when Sobha Ltd. price can reach defined target.
Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 6013.23 Crore) operating in Real Estate sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 525.00 Crore, down -10.85 % from last quarter Total Income of Rs 588.90 Crore and up 46.12 % from last year same quarter Total Income of Rs 359.30 Crore. Company reported net profit after tax of Rs 10.80 Crore in latest quarter.
Investment Rationale
Company operates in Residential & Commercial real-estate along with Contractual business. Companies 70% of residential pre-sales comes from Bangalore market which is one of the IT hub in India, the brokerage expects new hiring by IT industry will increase residential demand in Bangalore, Pune and Chennai. Company is expected to launch 17 new projects/phase spread over 12.56mn sqft across various geographies. Majority of launches will be coming from existing land bank. Company having land bank of approx. 200mn Sqft of salable area. Customers are now having preference for ready to move property or about to complete. As of June 2021, company having total unsold inventory of 14.37mn Sqft.
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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