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Revenue
₹1,988 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹194 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Sobha reported record full-year pre-sales of ₹8,136 crore, up ~30% YoY, driven by strong performance in Bangalore (₹4,500 crore) and NCR (₹2,450 crore). Q4 revenue recognition improved to ₹2,300 crore aided by delayed occupancy certificates, with EBITDA of ₹194 crore and PAT of ₹92 crore. The company ended the year net cash positive with gross debt of ₹2,200 crore and cash of ₹1,800 crore. Management guided for similar ~30% pre-sales growth in FY27, targeting launches of ~10 million sq ft (GDV ~₹15,000 crore), including the large Hoskote project (5.3 msf, GDV ₹7,000 crore). EBITDA margins are expected to improve to 24-26% in H2 FY27 as higher-margin projects complete. Key risk: input cost inflation from geopolitical tensions could pressure margins if not offset by price increases.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects similar growth rate as FY26, with 45-50% from sustenance and 50-55% from new launches.
- Planned launches include Hoskote phase 1 (5.3 msf), Gurgaon Crescent, and projects in Kerala, Bangalore, Pune, Chennai.
- Higher-margin projects nearing completion will drive margin expansion in Q3/Q4 FY27.
- Aiming to generate ₹2,000 crore from operations, up from ₹1,637 crore in FY26.
Risks flagged
- Commodity price increases may impact margins; management is in wait-and-watch mode and may not fully pass on costs.
- Analyst raised concern about IT client mix in Bangalore; management noted steady demand but acknowledged uncertainty.
- FY26 launches were delayed; FY27 target of 10 msf depends on timely approvals, especially for Hoskote.
- Rivana launch in March faced uncertain environment; sustained sales momentum needs monitoring.
Key quotes
- 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.
- 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%.
- We are aiming in FI 27 cash net operating cash flow to 2,000 crores.
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