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Analyst Corner: Sobha – maintain ‘buy’ with higher TP of Rs 291


The management indicated that while sales were muted during April–May 2020, enquiry levels are now back to pre-Covid-19 levels.

Maintain ‘buy’ with a revised target price (TP) of Rs 291 (Rs 212 earlier) while rolling forward the valuation to September 2021E. (Representative image)

By Edelweiss Securities

Sobha’s Q4FY20 new sales fell 22% y-o-y and 9% q-o-q to Rs 550 crore due to the pandemic-induced dislocation. Net debt offered a reason to cheer, edging down to Rs 3,020 crore (from Rs 3,090 crore at Q3FY20 end). The management indicated Bengaluru’s realty market has recovered well with ...


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