Q1-FY25 · Jagadish Nangineni
We have sold a total of 562 units this quarter and achieved a quarterly sales of INR 1,874 crores, registering a year-on-year growth of 28% and quarter-on-quarter growth of 24.6%.
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Sobha · tone and specificity signals across the available quarters.
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Q1-FY25 · Jagadish Nangineni
Our gross margins should be EBITDA margins at project level should be more than 30%. So, they would recover as we recognize these revenues in the coming years.
Q1-FY25 · Jagadish Nangineni
It's very difficult to comment about the timelines immediately, but probably by the next call or so, we'll be more clear in terms of how we would like to progress from here.
Q1-FY26 · Jagadish Nangineni
If we had included those [OC-delayed projects], we could recognize additional close over INR 650 crores with regard to these projects. Probably the net that we could have recognized, net in the sense PBT, would be over INR 150 crores.
Q1-FY26 · Jagadish Nangineni
This INR 150 crores, what I mentioned was PBT, not the PER. The second is for all the new projects that we have been selling in the past, say, two years, we have guided last time that we have at the project level, the EBITDA margin is at 33%.
Q1-FY26 · Yogesh Bansal
As we start recognizing revenue from new projects in the upcoming quarters, we expect improvement in margins.
Q1-FY26 · Jagadish Nangineni
In a typical, as you I'm sure you have seen all the P&Ls of real estate companies, particularly the ones who recognize revenue on a completion basis, an increase in sale in the pre-sales for the subsequent years are, in fact, detrimental to the P&L.
Q1-FY27 · Jagdish Nangini
Q1 FY27 has been a landmark quarter for Sobha in terms of sales. We achieved our highest ever quarterly real estate sales recording sales value of 3,656 crores representing a 76% increase year-on-year.
Q1-FY27 · Jagdish Nangini
We are at about 9.7% [margin]. So as we reach the end of Q4 maybe hopefully we should be able to do closer towards 17 to 20%.
Q1-FY27 · Jagdish Nangini
The main difference for the new forthcoming majority... the mix of the projects a greater mix is towards joint development and hence the incremental marginal cash flow would have reduction.
Q2-FY25 · Jagadish Nangineni
67% of our inventory right now is over 4 crores. Typically, the larger ticket size sales we have seen is the pace of sale is over the period of the project, and hence, it is an expected thing that we would be able to do the sales of these projects over the course of the project.
Q2-FY25 · Jagadish Nangineni
Our goal for our EBITDA margin is going in the medium to long term, which is probably I can will not be able to clearly guide you for the next year or in the next half or next year. But over a period of time, our aim is to take our EBITDA margins to over 20%.
Q2-FY25 · Jagadish Nangineni
In contracts, the main reduction of margins has been in civil and in glazing, which are contract-based. But the other, which are electrical, plumbing, and even interiors and concrete products, they are performing much better.
Q2-FY26 · Jagadish Nangineni
We have about INR 18,000 crore of unrecognized revenue from already sold units... EBITDA margins in those projects are between 30%-35%... Those will start getting reflected as we complete those projects.
Q2-FY26 · Yogesh Bansal
We generated INR 513 crore of net operational cash flow in the quarter... reaching a significant growth of 79.1%... Company closed the quarter with net cash position of INR 751 crore, underscoring a very healthy and strong financial footing.
Q2-FY26 · Jagadish Nangineni
Unlike several of the other real estate players, as you know, we are backward integrated. During [2021-2024 inflationary period], one of the biggest challenges is not only cost increases but also supply chain disruptions... Going forward, if we do not encounter any such black swan kind of events, there should be no reason for us to continue to deliver the kind of margins that we have envisaged.
Q3-FY25 · Jagadish Nangineni
We are currently aiming at reaching at least what we have done last financial year in terms of pre-sales, and if we can do that, that would be a good outcome for us.
Q3-FY25 · Jagadish Nangineni
It's a combination of both the real estate cost increases and lower margin projects that we have recognized in the joint development projects, and combined with even the contractual losses, all of them put together has led to this.
Q3-FY25 · Yogesh Bansal
In this, Kunal, if we add corporate overhead plus interest plus depreciation, it will be removed. So will the PBT level be between the range of 15% to 18% in FY 2030 going forward?
Q3-FY26 · Jagadish Nangineni
The overall demand scenario in the operating markets that we are present, Bangalore seems to be steady in nature, and Gurgaon, while there are pockets of concern, the sweet spot of between four to six crores is still a good market for Gurgaon.
Q3-FY26 · Jagadish Nangineni
The Q4 sales performance is partly dependent on these launches, and if they come through in time, we should be able to surpass our annual plan of 35% increase over last year at about INR 8,500 crores.
Q3-FY26 · Yogesh Bansal
We have unrecognized revenue from sold units of approximately INR 18,600 crores as of date. As we ramp up our project completion and recognize more revenue, we expect the profitability margin to improve.
Q4-FY25 · Yogesh Bansal
For the first time in history, we are right now net debt negative. Our average borrowing costs have also started to come down. It was 9.12% in Q4.
Q4-FY25 · Jagadish Nangineni
In this financial year alone, which is FY 2026, if everything works well, we will be able to launch at least half of this pipeline. In a more optimistic scenario, we can cross the double digit in terms of million sq ft launches.
Q4-FY25 · Jagadish Nangineni
We fundamentally believe that Gurugram has very good potential. We have established a good reputation. We have a good operational presence there. We will continue to invest there, and we are putting our best effort to make sure that scales up from an overall medium to long-term point of view also.
Q4-FY26 · Jagdish Nangini
FI26 has been an exceptional year for the company. Our real estate sales reached an all-time high of 8,136 crores with strong and consistent average quarterly run rate of approximately 2,000 crores.
Q4-FY26 · Jagdish Nangini
We currently have an unrecognized real estate revenue of about 18,600 crores... we expect an EBITDA margin of at least about 30% plus there the projects that are nearing completion and expected to be recognized in the next 12 months are likely to deliver higher margins in the range of 24 to 25 26%.
Q4-FY26 · Yogesh
We are aiming in FI 27 cash net operating cash flow to 2,000 crores.