India's Sobha climbs as Q4 profit soars six-fold

Prestige Estates Projects

30/05/2025 05:21

** Shares of Sobha SOBH.NS up 4% to 1,442.7 rupees
** The property developer's Q4 consol net profit soared nearly six-fold to 408.6 mln rupees ($4.8 mln) on new apartment launches and strong price growth
** Revenues jumped 62.6%
** Stock set to rise for a third straight month
** More than 580,000 shares traded, 3x its 30-day moving avg
** Avg rating of 15 analysts is "buy", median PT is 1,610 rupees, ~11% higher than current price - data compiled by LSEG
** YTD SOBH down ~8%, while rivals Brigade Enterprises BRIG.NS and Prestige Estates Projects PREG.NS down ~12% and ~11%, respectively

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))