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Buy Sobha; target of Rs 348: HDFC Securities


HDFC Securities is bullish on Sobha has recommended buy rating on the stock with a target price of Rs 348 in its research report dated June 30, 2020.

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HDFC Securities' research report on Sobha

SDL reported operationally weak 4QFY20 with pre-sales of 0.9mn sqft (-20% YoY) as sales in Bengaluru (73% of sales in 4QFY20) fell by 22/20% YoY/QoQ. Pre-sales for FY20 remained flattish at 4.1mn sqft. To add to weak operational performance, SDL evaluated overall portfolio and has recognized 1.93mn sqft of bookings (Rs 12.4bn value and Rs 2bn ...


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