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Buy Sobha; target of Rs 750: ICICI Direct

ICICI Direct is bullish on Sobha recommended buy rating on the stock with a target price of Rs 750 in its research report dated November 17, 2022.

November 21, 2022 / 10:31 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 ~12.3 mn square feet (msf) of unsold saleable area and ongoing contractual projects aggregating to 4.8 msf in various stages of construction. As on Q1FY23, Sobha has delivered ~121+ msf of developable area. Sobha has a real estate presence in 11 cities, viz. Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Trivandrum, Gift City and Mysore.


The consistency in sales volumes, collections and debt reduction is a positive surprise. We upgrade from HOLD to BUY rating. We value Sobha at Rs 750/share.

For all recommendations report, click here

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Sobha - 21 -11-2022 - icici

Broker Research
first published: Nov 21, 2022 10:31 pm