ICICI Direct's research report on Sobha
Sobha Ltd (Sobha) is a leading real estate player with ongoing real estate projects with ~13.5 mn sq feet (msf) of unsold saleable area and ongoing contractual projects aggregating to 3.1 msf in various stages of construction. As on Q1FY23, the company has delivered ~120+ msf of developable area. It has a real estate presence in 10 cities, viz. Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Gift City and Mysore.
Outlook
We incorporate higher sales volumes and remove discount to NAV. We maintain HOLD, given the ~30% run up in the last three months. We value Sobha at Rs 735/share.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!