Sobha Ltd(SOBHA)

NSE: SOBHABSE: 532784

₹ 1,171.25-2.03%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 12,527 crWebsite: www.sobha.comUpdated: 24 Oct 2026

About

Sobha Limited is a vertically integrated real estate developer whose business covers residential development, contracting, manufacturing and commercial leasing. It says it is the only Indian real estate company with its own factories for building materials. In FY26 it reported revenue of ₹5,190.5 cr, and real estate made up 81.1% of segment revenue. It set a record for half-yearly sales value of ₹58.62 Bn in H1 FY27.^[1][2][3][4]

Business segments

Real estate: ₹4,419.73 cr revenue, 81.1% of segment revenue and an 8.7% EBIT margin in FY26.^[3]
Contractual and manufacturing: ₹1,028.44 cr revenue, 18.9% of segment revenue and an 11.1% EBIT margin in FY26.^[3]
Civil contracting revenue is expected to fall by ₹150 - 175 cr from FY27 onwards as existing contracts run off and no new projects are taken on.^[5]

Products and brands

Mattresses are sold under the SOBHA Restoplus brand and home interior packages under metercube (FY25).^[1]
In 2015 the company installed India's largest on-site precast plant at Sobha Dream Acres, which speeds up construction by 20%.^[1]
The company has completed 143.65 million sq ft of construction since it started; ongoing real estate projects add up to 39.72 million sq ft of developable area (FY25).^[1]

Manufacturing facilities

Concrete products: a 348,477 sq ft facility in Bengaluru, plus units in Gurugram and Pune (FY25).^[1]
Interiors: two factories at Bommasandra, Bengaluru, with 2,55,000 sq ft of floor area in total, plus a unit in Alwar, Rajasthan (FY25).^[1]
Glazing and metal works: a 99,943 sq ft factory in Bengaluru, plus units in Kancheepuram and Sonipat (FY25).^[1]

Key operating numbers

Pre-sales value: ₹22.06 Bn in Q2 FY27, up 16% YoY, against ₹36.56 Bn in Q1 FY27. Area sold was 1.42 msf in Q2 FY27, against 1.39 msf a year earlier.^[4]
Pre-sales value: a record ₹58.62 Bn in H1 FY27, up 47.2% YoY. Area sold was 3.76 msf across 2,260 units, up 32.4%.^[4]
Average price: ₹15,522/sft in Q2 FY27 vs ₹13,648 in Q2 FY26, and ₹15,604/sft in H1 FY27 vs ₹14,028 in H1 FY26.^[4]
SOBHA's own share of sales value: 85.3% in Q2 FY27 vs 80.8% in Q2 FY26.^[4]
FY26 pre-sales: ₹81.36 Bn (5.54 mn sft), an all-time high, up 30% YoY.^[6]
Real estate collections: ₹17.56 Bn in Q1 FY27 (+9.9% YoY); ₹70.67 Bn in FY26.^[7]
Completions: 1,391 homes (2.56 msf) in H1 FY27, including 720 homes (1.49 msf) in Q2 FY27.^[4]
Unsold inventory stood at 14.94 mn sft in Q1 FY27; revenue from sales not yet recognised was ₹20,553 cr at end-Q1 FY27, against ₹18,647 cr at 31-Mar-2026.^[7]

Markets and customers

The FY25 report gives a footprint of 27 cities across 14 states in India; the company does not export.^[1]
Q1 FY27: Bangalore made up 57% of pre-sales (₹2,067 cr) and NCR 38% (₹1,384 cr).^[7]
FY26: Bangalore sales were ₹44.78 Bn (55% share) and NCR sales ₹24.55 Bn (30%).^[6]
Contracting clients include Lulu Group, Biocon, Dell, Bosch, Syngene, Taj Hotels, HCL, Wipro, Infosys, ITC Hotels and Huawei (FY25).^[1]
Infosys is the largest single contracting client, with over 42.37 million sq ft executed (FY25).^[1]

Launch pipeline

H1 FY27 launches: 7.91 msf across 5 projects in Bangalore, Gurgaon and Calicut, with ₹112 Bn sale potential. Q2 FY27 launches were 1.03 msf, in Calicut and Mysore.^[4]
Q1 FY27 launches were led by Sobha One World (Hoskote, 5.39 mn sft) and Sobha Crescent Phase 1 (Gurgaon, 869,578 sft, ₹22 Bn potential).^[7]
Forthcoming launch pipeline: 20.77 mn sft across 17 projects as of Q1 FY27.^[7]
Inventory across completed, ongoing and forthcoming projects was valued at ₹531.99 Bn as of Q1 FY27.^[7]

Expansion and land acquisition

Q1 FY27: bought a 1.3-acre Mumbai plot outright for ₹180 cr and signed a joint development agreement in Greater Noida; combined GDV guided at ₹2,700 - 3,000 cr.^[7]
Spending on new land in FY27 could reach ₹1,500 - 1,600 cr if new Bangalore and NCR deals close, against about ₹1,160 cr in FY26.^[7]
The rental portfolio is to grow by at least 2 - 2.5 mn sft over the coming few years, on land already held in Hoskote and Gurgaon.^[6]
The first Mumbai project, SOBHA Inizio in Sewri - Parel (134 homes), launched in December 2025.^[5]

Recent developments

Q1 FY27: plans to issue ₹1,000 cr of NCDs in at least two tranches over the following couple of quarters to fund land purchases.^[7]
BNB Builders was acquired on July 24, 2024 and renamed Sobha Commercial Private Limited.^[1]
Q4 FY26: a Bangalore row house project was cancelled and is being relaunched as apartments on the same land.^[6]

Market Cap

₹12,527 Cr

High / Low

₹1,731 / 1,113

Stock P/E

65.6

Price / Book

2.6

Book Value

₹441

EPS

₹18.1

No. of Shares

10.7 Cr

ROCE

6.9%

ROE

4.2%

OPM

7.4%

Debt / Equity

0.21

Sales

₹5,191 Cr

Net Profit

₹193 Cr

Promoter holding

52.9%

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Sobha Ltd(SOBHA)

About

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Products and brands

Manufacturing facilities

Key operating numbers

Markets and customers

Launch pipeline

Expansion and land acquisition

Recent developments

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