- Sobha is a leading real estate developer engaged in the business of construction and operation of townships, housing projects, commercial premises and other related activities.
- In 3QFY20, SOBHA reported revenue of Rs.901.2 Cr (+12% YoY), on the back of healthy sales volume of 1.07 mn sq ft (18% YoY)
- The number of units sold increased significantly with 784 units sold in 3QFY20 (32% YoY) but area remained roughly same at 1.07mn sq ft, signifying decreasing unit size with average unit size at 1,365 sq ft
- Sales volume was primarily driven by Bengaluru market as it contributed to 77% of sales in 3Q
- Sobha also has 2 malls and are expected to generate rental income of Rs.50 Cr. from FY21
- Although there's no new land acquisition, the net debt has increased from Rs. 2,980 Cr. in 3QFY20 to Rs. 3,094 Cr. in 2QFY20. The D/E ratio increased and is at 1.30.
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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