India's Sobha falls after quarterly revenue, profit declines

Sobha

21/10/2026 06:16

** Real estate developer Sobha SOBH.NS fall 4.3% to 1,125.60 rupees, stock's lowest level since April 11, 2025
** Stock posts biggest percentage fall in nearly seven months
** On October 19, co reported 54.6% Y/Y fall in quarterly net profit, 31.3% Y/Y fall in revenue
** Quarterly sales value, which is the total value of properties sold, rose 16% y/y, above estimates — Emkay ("buy", TP at 1,900 rupees)
** With key projects expected to commence deliveries from 3QFY27, brokerage sees core margins to exceed 15% in H2 FY27
** Sixteen analysts on average rate stock "strong buy", median TP at 1,775 rupees — data compiled by LSEG
** YTD, shares down 23.71%

($1 = 94.6250 Indian rupees)

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))