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 8517.63 Crore) operating in Real Estate sector.
Sobha Ltd. key Products/Revenue Segments include Property Development, Income From Construction Work, Income From Glazing, Income From Interiors, Income From Financial Services, Concrete Blocks, Land Development Rights, Rental Income, Scrap for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 832.30 Crore, up 58.53 % from last quarter Total Income of Rs 525.00 Crore and up 52.46 % from last year same quarter Total Income of Rs 545.90 Crore. Company reported net profit after tax of Rs 48.30 Crore in latest quarter.
Investment Rationale
With a major portion of the launches coming from the existing land bank, it enhances land valuation and consider 5-7% price hike on residential projects. It has raised TP to INR 964 (from INR 690 previously). It downgrades rating to ADD due to the limited upside in NAV (earlier BUY). It has also tweaked the EPS to account for near-term positive demand momentum.
Promoter/FII Holdings
Promoters held 51.99 per cent stake in the company as of 30-Sep-2021, while FIIs owned 17.05 per cent, DIIs 13.72 per cent.
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