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'Buy' Sobha Shares Maintains HDFC Securities On Multiple Growth Triggers
Valuation comfort, robust free cash flow generation, and likely deleveraging are key near-term triggers for Sobha's further rerating, says HDFC Securities.
09 Jul 2025, 10:27 AM IST 
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H2 FY26 is expected to see an even stronger momentum, with Sobha's big launches including Gurgaon Sector 63A, Pune, Mumbai, and Bengaluru.
(Photo Source: Sobha official website)
Sobha reported a strong Q1 FY26 presales performance, up 11% YoY to Rs 20.8 billion, driven by robust sustenance sales in Gurugram, Bengaluru, and other markets (Rs 10 billion), along with healthy new launches contributing Rs 10.8 billion (72% of the Rs 15 billion launched gross development value). The company also delivered 1.07 msf across key projects, showcasing its execution strength and in-house development capabilities.
