Edelweiss' research report on Sobha
Sobha sustained its strong performance with Q4FY18 PAT at INR654mn (up 40% YoY) beating our estimate. Operations also remained strong with new sales of 1.02msf (up 40% YoY), valued at INR8.1bn (up 31% YoY). The 1.02msf sold in Q4FY18 was the highest in the past 12 quarters; management has guided for steady ramp up going ahead. Improving collections (~INR30bn in FY18, best ever) led to fall in leverage.
Outlook
Robust launch pipeline, market share gain, diversified land bank and improving cash flow trajectory continue to remain key positives. Maintain ‘BUY’ with TP of INR668/share.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
