ICICI Direct's research report on Sobha
Sobha Ltd (Sobha) is a leading real estate player with ongoing real estate projects with ~20 mn sq feet of saleable area and ongoing contractual projects aggregating to 5.9 mn sq ft under various stages of construction. As on Q2FY22, the company has delivered ~114.7 mn sq ft of developable area. The company has a real estate presence in 10 cities, viz. Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Gujarat (Gift City) and Mysore
Outlook
We maintain HOLD rating to the company as the recent run up (up ~50% in last three months) restricts meaningful upsides from here We value Sobha at Rs 970/share.
For all recommendations report, click here
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