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Indian homebuilder Sobha's profit drops for fourth straight quarter Indian real estate developer Sobha posted a fourth straight drop in quarterly profit on Thursday, hurt by fewer launches and lower sales. The company's consolidated net profit sank 50% to 60.6 million rupees ($7.2 million) in the first quarter. For further highlights, click KEY CONTEXT The April-June period saw delays in approvals for real estate projects amidst general elections in the country, resulting in fewer launches and a slowdown in sales. Sobha's peer Prestige ...
Indian homebuilder Sobha's profit drops for fourth straight quarter
Indian homebuilder Sobha's profit drops for fourth straight quarter
Source: Reuters
2024-08-08 05:58:38 pm
Buy SOBHA Ltd For Target Rs. 1861 - Choice Broking * Sobha during the quarter achieved the highest ever pre-sales(volumes) of 1.7mnsft. During the quarter the company registered 22.9% de-growth in pre-sales t0 Rs.15.04bn and collection of Rs.14.98bn. Company reported net sales revenues of Rs.7.63bn in Q3FY24 (-21.7% YoY/-7.6% QoQ). Operating profit for the quarter stood at Rs.741mn (-36.9% YoY/+2.9% QoQ). Margin for the quarter stood at 18.1%. Revenue from the contract manufacturing segment de-grew by 46.4% YoY to Rs.1.45bn. On the launches f...
Buy SOBHA Ltd For Target Rs. 1861 - Choice Broking
Buy SOBHA Ltd For Target Rs. 1861 - Choice Broking
Source: Choice Broking
2024-06-08 09:54:05 am
Buy Sobha Ltd. For Target Rs.1861 By Choice Broking Ltd * Sobha during the quarter achieved the highest ever pre-sales(volumes) of 1.7mnsft. During the quarter the company registered 22.9% de-growth in pre-sales t0 Rs.15.04bn and collection of Rs.14.98bn. Company reported net sales revenues of Rs.7.63bn in Q3FY24 (-21.7% YoY/-7.6% QoQ). Operating profit for the quarter stood at Rs.741mn (-36.9% YoY/+2.9% QoQ). Margin for the quarter stood at 18.1%. Revenue from the contract manufacturing segment de-grew by 46.4% YoY to Rs.1.45bn. On the launches f...
Buy Sobha Ltd. For Target Rs.1861 By Choice Broking Ltd
Buy Sobha Ltd. For Target Rs.1861 By Choice Broking Ltd
Source: Choice Broking
2024-05-23 12:28:19 pm
Accumulate Sobha Ltd For Target Rs. 1599 - Elara Capital   Embarking on expansion Q3 sales and realization: Touching zenith backed by launches Sobha (SOBHA IN) achieved its highest-ever sales in Q3FY24, encompassing sales value of INR 19.5bn with an area of 1.66mn sft. Sales in Bengaluru soared to a peak, with sales value of ~INR 15bn and sales volume of 1.25msf. This strong sales performance was supported by the successful launch of SOBHA Neopolis i...
Accumulate Sobha Ltd For Target Rs. 1599 - Elara Capital
Accumulate Sobha Ltd For Target Rs. 1599 - Elara Capital
Source: Elara Capital
2024-03-10 09:10:35 am
Neutral SOBHA Ltd For Target Rs. 1360 - Choice Broking Sobha during the quarter achieved the highest ever pre-sales and also did the highest ever launches. During the quarter the company registered 37% growth in pre-sales to Rs.19.51bn and collection of Rs.11.18bn. Company reported net sales revenues of Rs.6.85bn in Q3FY24 (-21.7% YoY/-7.6% QoQ). Operating profit for the quarter stood at Rs.741mn (-22% YoY/+13.4% QoQ). Margin for the quarter stood at 10.8%. Revenue from the contract manufacturing segment de-grew by 14.7% YoY to Rs.1.98bn. On the ...
Neutral SOBHA Ltd For Target Rs. 1360 - Choice Broking
Neutral SOBHA Ltd For Target Rs. 1360 - Choice Broking
Source: Choice Broking Ltd
2024-03-07 03:05:11 pm
Real estate stocks surge after RBI says All-India House Price Index grows to 3.8% in Q3FY24 The real estate industry related stocks surged on the BSE after the Reserve Bank of India (RBI) in its latest report has showed that All-India house price index (HPI) increased by 3.8 per cent year on year (y-o-y) in Q3:2023-24 (Q3FY24) compared to 3.5 per cent growth in the previous quarter and 2.8 per cent a year ago. Macrotech Developers is currently trading at Rs. 1142.00, up by 26.35 points or 2.36% from its previous closing of Rs. 1115.65 on the BSE. DLF is currently trading at Rs...
Real estate stocks surge after RBI says All-India House Price Index grows to 3.8% in Q3FY24
Real estate stocks surge after RBI says All-India House Price Index grows to 3.8% in Q3FY24
Source: Accord Fintech
2024-02-27 03:39:42 pm
Neutral Sobha Ltd For Target Rs. 1360 - Choice Broking Sobha during the quarter achieved the highest ever pre-sales and also did the highest ever launches. During the quarter the company registered 37% growth in pre-sales to Rs.19.51bn and collection of Rs.11.18bn. Company reported net sales revenues of Rs.6.85bn in Q3FY24 (-21.7% YoY/-7.6% QoQ). Operating profit for the quarter stood at Rs.741mn (-22% YoY/+13.4% QoQ). Margin for the quarter stood at 10.8%. Revenue from the contract manufacturing segment de-grew by 14.7% YoY to Rs.1.98bn. On the ...
Neutral Sobha Ltd For Target Rs. 1360 - Choice Broking
Neutral Sobha Ltd For Target Rs. 1360 - Choice Broking
Source: Choice Broking
2024-02-27 02:23:30 pm
Buy Sobha Ltd For Target Rs.1400 - Motilal Oswal Financial Services Ltd Aiming for higher scale with strong balance sheet Targeting sustainable growth with healthy cash flows and profitability After underperforming its listed peers on pre-sales growth over FY21-23, we believe SOBHA is set to outperform in terms of growth given its focus on unlocking its vast land reserve and exploring external growth opportunities through its healthy balance sheet. The outperformance is also expected to be driven by improvements in profitability. Further, visibility in the ...
Buy Sobha Ltd For Target Rs.1400 - Motilal Oswal Financial Services Ltd
Buy Sobha Ltd For Target Rs.1400 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-01-08 11:21:39 am