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SOBHA Share Price Target
Sobha Ltd.
Sector: Construction
Sector: Construction
SOBHA Share Price *
394.8 -6.3 (-1.57%)
* (quote may be delayed)
SOBHA Share Price Forecast - Consensus
| No. of reports in last year | 14 |
| No. of analysts | 6 |
| Average Consensus Forecast | 545.00 |
| Consensus Potential | 22.65% |
SOBHA Share Price Target - Broker Reports - 2019
Karvy Stock Broking
14-Nov-19
Price @ Call: 398.15
Target: 610
BUY
We expect players like Sobha to a be major beneficiary of post RERA scenariowhich has resulted in consolidation in real estate industry wherein reputed players backed by execution track record stand to gain market share from unorganized players. The current liquidity crisis has expedited the consolidation and it will strengthen the position of large players. However, we remain cautious of rising debt in Sobha Ltd. We value Sobha at 20% discount to its NAV and retain “BUY” rating on the stock with an NAV based target price of Rs. 610.
Nirmal Bang
13-Nov-19
Price @ Call: 427.5
Target: 360
SELL
We have retained our Sell rating on Sobha and valued it at a 15% (earlier 5%) discount to NAV arriving at a revised target price (TP) of Rs360 (earlier Rs405). The reason for downgrading includes rising concerns on: (1) Continuing downtrend in realizations. (2) Poor cash flows (3) Rising debt and weaking Balance sheet.
Nirmal Bang
3-Oct-19
Price @ Call: 476.55
Target: 405
SELL
Karvy Stock Broking
16-Aug-19
Price @ Call: 471.58
Target: 632
BUY
We expect players like Sobha to be a major beneficiary of post RERA scenariowhich has resulted in consolidation in real estate industry wherein reputed players backed by execution track record stand to gain market share from unorganized players. The current liquidity crisis has expedited the consolidation and it will strengthen the position of large players, although we remain cautious of rising debt in Sobha Ltd. We have valued Sobha at 0.8x NAV and we retain “BUY” rating with a target price of Rs. 632.
Nirmal Bang
14-Aug-19
Price @ Call: 496.08
Target: 376
SELL
The combined impact of weak cash flows and land purchases of Rs1.5bn has led to increase in net debt from Rs22,625mn in 1QFY19 to Rs27,518mn in 1QFY20. Net profit grew by 72% YoY to Rs906mn, primarily driven by the 97% YoY rise in revenue to Rs11.7bn. However, rising cost pressures (increase of 119% YoY) together with increase in interest cost (55% YoY) have led to relatively lower growth in net profit. We have retained Sell rating on Sobha with a target price (TP) of Rs376.
Karvy Stock Broking
31-May-19
Price @ Call: 544.48
Target: 632
BUY
We expect Sobha to be a major beneficiary of post RERA scenario which has resulted in consolidation in real estate industry wherein reputed players backed by execution track record stand to gain market share from unorganized players. The current liquidity crisis will strengthen the position of large developers having minimal dependency on external funding for project completion. Our NAV model yields a per-share value of Rs. 790 and we have valued Sobha at 20% discount to NAV, resulting in a target price of Rs. 632/share.
ICICIdirect.com
29-May-19
Price @ Call: 538.9
Target: 620
BUY
Sobha reported highest ever sales volume of 1.1 msf in Q4FY19. Bengaluru,Sobha’s key market continues to witness strong traction with one of lowestinventory overhang of 15 months. Coupled with its healthy launch pipelineand more focus on affordable housing, we expect Sobha’s sales momentumto sustain. Hence, we maintain BUY recommendation on Sobha with a revised target price of Rs 620/share. Sobha’s net D/E at 1.0x is relatively higher than its peers and remains the key monitorable for re-rating of the stock.
HDFC Securities
22-May-19
Price @ Call: 506.2
Target: 652
BUY
We maintain BUY post a robust quarter. Our SOTP-based TP has increased to Rs 652 (vs Rs 646 earlier). We have increased our EPS estimate by 3/3.3% for FY20/21E. SDL has ~17.5mn sqft of unsold area in ongoing projects and expects to add 4.2mn sqft from new projects in the pipeline. A well diversified product mix across different regions augurs well for pre-sales recovery. Brand pull will certainly aid pre-sales efforts. Despite capex commitment of Rs 10bn we expect consolidated net D/E to reduce to 0.9x by FY21E (vs. 1.09x now). The contracting business is seeing good growth with an order book of Rs 26bn. We maintain BUY. Key risks: (1) Further deterioration in NBFC liquidity, (2) Higher interest rate, (3) Weak order inflow in the contracting business; and (4) Delay in regulatory approvals.
Nirmal Bang
21-May-19
Price @ Call: 483.7
Target: 376
SELL
Retain Sell rating with a target price of Rs376: Rich valuation amid lack of pricing power and rising costs will exert pressure on the stock price. We have retained Sell rating on Sobha with a target price of Rs376. We will be revising our estimates shortly.
Edelweiss
9-Apr-19
Price @ Call: 498
Target: 619
BUY
While tight liquidity remains key concern for the sector at large, the recent cut in interest rates, RERA-driven consolidation and improving affordability offer growth opportunities. We expect the robust launch pipeline to boost Sobha’s new sales in ensuing quarters. Moreover, steady sales momentum in the Dream Acres project, improvement in the Bengaluru market and strengthening of balance sheet are key stock catalysts. We continue to maintain ‘BUY/SO’ with target price of INR619/share.
SMC Research
8-Apr-19
Price @ Call: 498.86
Target: 578
BUY
HDFC Securities
11-Feb-19
Price @ Call: 468.65
Target: 646
BUY
Edelweiss
8-Feb-19
Price @ Call: 474.33
Target: 614
BUY
ICICIdirect.com
8-Feb-19
Price @ Call: 476
Target: 510
BUY
SOBHA Share Price Target - Broker Reports - 2018
JM Financial
10-Aug-18
Price @ Call: 523.4
Target: 600
BUY
ICICIdirect.com
10-Aug-18
Price @ Call: 530.96
Target: 570
BUY
HDFC Securities
9-Aug-18
Price @ Call: 495.7
Target: 644
BUY
JM Financial
13-Jul-18
Price @ Call: 463.77
Target: 600
BUY
JM Financial
23-May-18
Price @ Call: 496.61
Target: 600
BUY
HDFC Securities
23-May-18
Price @ Call: 496.61
Target: 641
BUY
Edelweiss
22-May-18
Price @ Call: 506
Target: 668
BUY
ICICIdirect.com
13-Feb-18
Price @ Call: 566.8
Target: 610
HOLD
SOBHA Share Price Target - Broker Reports - 2017
Nirmal Bang
14-Nov-17
Price @ Call: 513.7
Target: 295
SELL
Axis Direct
14-Aug-17
Price @ Call: 369.85
Target: 459
BUY
Edelweiss
7-Aug-17
Price @ Call: 384
Target: 520
BUY
Edelweiss
6-Jul-17
Price @ Call: 382
Target: 520
BUY
Edelweiss
17-May-17
Price @ Call: 426
Target: 520
BUY
HDFC Securities
17-May-17
Price @ Call: 421
Target: 500
BUY
Axis Direct
15-Feb-17
Price @ Call: 283
Target: 317
BUY
ICICIdirect.com
9-Feb-17
Price @ Call: 278
Target: 285
HOLD
Axis Direct
10-Jan-17
Price @ Call: 266
Target: 312
BUY
SOBHA Share Price Target - Broker Reports - 2016
ICICIdirect.com
29-Nov-16
Price @ Call: 250
Target: 275
HOLD
Axis Direct
14-Sep-16
Price @ Call: 294.41
Target: 350
HOLD
Motilal Oswal
12-Sep-16
Price @ Call: 306
Target: 360
BUY
Axis Direct
11-Jul-16
Price @ Call: 323
Target: 340
HOLD