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Hold Sobha: target of Rs 970: ICICI Direct

ICICI Direct recommended hold rating on Sobha with a target price of Rs 970 in its research report dated November 10, 2021.

November 10, 2021 / 02:42 PM IST
 
 
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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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first published: Nov 10, 2021 02:42 pm

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