SOBHA
Sobha share price & financials
- Price
- ₹1,418.9
- Market cap
- ₹14.6k Cr
- Sector
- Realty
- Calls analysed
- 8
Sobha Limited Q1 FY27
What went well
- Real estate sales value of INR3,656 crores, a 76% increase year-on-year.
- Total income grew by 48% year-on-year to INR1,330 crores.
- PAT increased to INR50.7 crores from INR13.5 crores in Q1 FY26.
What to watch
- Milestone billing collections were relatively lower due to labor shortage in April and May, leading to a small shortfall in cash flow.
- Mumbai project launch faces uncertainty regarding approvals and timeline, requiring 'a lot of work to be done there'.
What Sobha Limited does
Sobha Limited develops residential and commercial real estate - apartments, row houses and plotted developments - across India, with long-term growth focus on Bangalore, NCR, Hyderabad and Mumbai. It runs a unique backward-integrated model, executing its own institutional and commercial contracting work and manufacturing many of its own construction inputs, including interiors/joinery, glazing and metal work, and precast concrete products, which are also sold to third parties through retail initiatives. Revenue is earned from real estate sales and from its Contracts & Manufacturing business.
Segments
- Real Estate
- Contractual & Manufacturing
- Geographic footprint
- 28 cities across 14 states in India
- Developable land bank
- 409 acres across Bangalore, Gurgaon, Kerala, Tamil Nadu, Pune and Hyderabad
- Additional land under consolidation
- 1,752 acres (owned/JD/lease)
- Developments executed to date
- 589 residential and commercial developments (580+ precision-built projects)
- Completed developable area
- 152.69 mn sft completed
- Projects under development
- 53 projects, 41.93 mn sft
Guidance record · Q1 FY27
what the last two calls moved 28 tracked 5 delivered 6 missed 17 open- Long Term Gross Debt delivered said Q2 FY25 Promised: ~₹1,600 crores Q1 FY27: Gross debt at ₹1,110 crores remains well below the original long-term target.
- FY25 Annual Presales went quiet said Q2 FY25 Promised: ₹8,500 crores Q1 FY27: Promise period has passed. No final update ever provided.
- Margin Improvement Timeline delayed said Q2 FY26 Promised: significantly improve starting from next financial year (FY27) Q1 FY27: I still expect the margins to be significantly better in the second half... Q2 might be similar. But Q3 and Q4 sequentially should become better.
All 28 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 50.0%, net profit up 264.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 934 | 1,224 | 1,241 | 852 | 1,408 +51% | 943 −23% | 1,988 +60% | 1,278 +50% |
| EBITDA | 77 | 67 | 94 | 24 | 96 +25% | 39 −42% | 152 +62% | 78 +225% |
| Net profit | 26 | 22 | 41 | 14 | 73 +181% | 15 −32% | 92 +124% | 51 +264% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −18.7% 1Y
1Y: ₹1,496 on 10 Sept 2025 → ₹1,216.8. High ₹1,701.2 (7 Nov 2025), low ₹1,156.8 (2 Apr 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.0%
- 21 Jul
- Q4 FY26
- +0.4%
- 5 May
- Q3 FY26
- −1.4%
- 16 Jan
- Q2 FY26
- +1.7%
- 18 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 16.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 6.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.3k Cr | ₹3.1k Cr | ₹4.0k Cr | ₹5.2k Cr |
| Operating profit | ₹373 Cr | ₹276 Cr | ₹294 Cr | ₹311 Cr |
| Operating margin | 11.3% | 8.9% | 7.3% | 6.0% |
| Interest | ₹251 Cr | ₹245 Cr | ₹195 Cr | ₹137 Cr |
| Depreciation | ₹68 Cr | ₹78 Cr | ₹89 Cr | ₹106 Cr |
| Net profit | ₹105 Cr | ₹49 Cr | ₹95 Cr | ₹194 Cr |
| Net margin | 3.2% | 1.6% | 2.4% | 3.7% |
| ROCE | 8.0% | 7.0% | 6.0% | 7.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹95 Cr | ₹95 Cr | ₹95 Cr | ₹95 Cr | ₹107 Cr | ₹107 Cr |
| Reserves | ₹2.3k Cr | ₹2.3k Cr | ₹2.4k Cr | ₹2.4k Cr | ₹4.5k Cr | ₹4.6k Cr |
| Borrowings | ₹3.1k Cr | ₹2.5k Cr | ₹2.0k Cr | ₹1.9k Cr | ₹1.1k Cr | ₹1.1k Cr |
| Other liabilities | ₹5.7k Cr | ₹6.6k Cr | ₹8.1k Cr | ₹9.2k Cr | ₹13.0k Cr | ₹13.7k Cr |
| Total liabilities | ₹11.2k Cr | ₹11.5k Cr | ₹12.6k Cr | ₹13.7k Cr | ₹18.6k Cr | ₹19.5k Cr |
| Fixed assets | ₹903 Cr | ₹852 Cr | ₹899 Cr | ₹946 Cr | ₹1.1k Cr | ₹1.1k Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹5 Cr | ₹0 Cr | ₹27 Cr |
| Investments | ₹114 Cr | ₹115 Cr | ₹115 Cr | ₹115 Cr | ₹115 Cr | ₹120 Cr |
| Other assets | ₹10.2k Cr | ₹10.6k Cr | ₹11.6k Cr | ₹12.6k Cr | ₹17.5k Cr | ₹18.3k Cr |
| Total assets | ₹11.2k Cr | ₹11.5k Cr | ₹12.6k Cr | ₹13.7k Cr | ₹18.6k Cr | ₹19.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −1.97 pp while DIIs added +1.37 pp. The shareholder count shrank 3% to 1,22,305.
- Promoters
- 52.9%
- FIIs
- 6.1%
- DIIs
- 26.0%
- Public
- 15.0%
Since Jun 2025
- FIIs −1.97 pp
- DIIs +1.37 pp
- Public +0.60 pp
How it drifted, 12 quarters
Over this window DIIs went from 14.9% to 26.0% — +11.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 52.3%, FIIs 11.2%, DIIs 14.9%, Public 21.5%.Dec '23: Promoters 52.3%, FIIs 11.1%, DIIs 17.2%, Public 19.4%.Mar '24: Promoters 52.3%, FIIs 11.9%, DIIs 17.6%, Public 18.3%.Jun '24: Promoters 52.3%, FIIs 11.5%, DIIs 18.6%, Public 17.6%.Sep '24: Promoters 52.8%, FIIs 10.9%, DIIs 23.4%, Public 12.9%.Dec '24: Promoters 52.8%, FIIs 10.0%, DIIs 24.2%, Public 13.0%.Mar '25: Promoters 52.9%, FIIs 8.9%, DIIs 24.0%, Public 14.2%.Jun '25: Promoters 52.9%, FIIs 8.1%, DIIs 24.6%, Public 14.4%.Sep '25: Promoters 52.9%, FIIs 6.4%, DIIs 26.0%, Public 14.7%.Dec '25: Promoters 52.9%, FIIs 6.3%, DIIs 25.8%, Public 15.1%.Mar '26: Promoters 52.9%, FIIs 6.2%, DIIs 26.1%, Public 14.8%.Jun '26: Promoters 52.9%, FIIs 6.1%, DIIs 26.0%, Public 15.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Bandhan Small Cap Fund Mutual fund +0.62 pp 7.33% held
The same filing shows 3 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Sobha Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sobha Menon | 30.63% | unchanged |
| P N C Menon | 18.84% | unchanged |
| Bandhan Small Cap Fund Mutual fund | 7.33% | +0.62 pp |
| Anamudi Real Estates Llp | 5.56% | unchanged |
| Franklin India Focused Equity Fund Mutual fund | 4.34% | −0.09 pp |
| Ravi P N C Menon | 3.36% | unchanged |
| Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life Large Cap Fund Mutual fund | 3.04% | unchanged |
| HSBC mutual fund- HSBC value fund Mutual fund | 2.33% | unchanged |
| ICICI Prudential Multicap Fund Mutual fund | 2.08% | −0.18 pp |
| Mirae Asset Large Cap Fund Mutual fund | 1.82% | −0.12 pp |
| Canara Robeco Mutual Fund A/C Canara Robeco Small Cap Fund Mutual fund | 1.03% | unchanged |
| P N Haridas | 0.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in SOBHA
Filings to Aug 2026
0 new, 4 added, 2 trimmed, 0 sold out — net +0.00 L shares (+0.1%).
- Held by funds
- ₹16 Cr
- 6 schemes
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹9 Cr · 0.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹9 Cr | +0.01 L | Oct '20 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹5 Cr | +0.00 L | Oct '22 |
| Nippon India Nifty Realty Index Fund Nippon India Mutual Fund | ₹1 Cr | −0.01 L | Dec '24 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | +0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 2 trimmed — net +185 shares (+0.1%)
- Funds are sitting on
- +11%
- vs est. average cost
- Held by funds
- ₹16 Cr
- 6 schemes · ≈ 0.12% of the company
- Biggest holder
- Nippon India Nifty Smallcap 250 Index Fund
- ₹9 Cr · 0.3% of that fund
Shares held by these funds −87%
Aug '23 1.27 L shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Sobha Limited
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