Sobha Ltd.
SOBHAConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
8 transcript(s)/analyst meet(s) served; 2 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 8 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220523 | 2022-03-31 | yes | |
| TRANSCRIPT | 20230602 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230811 | 2023-06-30 | yes | |
| TRANSCRIPT | 20240214 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240522 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240814 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241119 | 2024-09-30 | yes | |
| DUPLICATE | 20241119 | 2024-09-30 | no | |
| TRANSCRIPT | 20250212 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250730 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251022 | 2025-09-30 | yes | |
| DUPLICATE | 20251022 | 2025-09-30 | no | |
| TRANSCRIPT | 20260121 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260509 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260727 | 2026-06-30 | yes |
SOBHA
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,227.70 |
| 52-week range | 1156.8 – 1701.2 |
| Return 1M | -4.06% |
| Return 3M | -12.81% |
| Return 1Y | -22.0% |
| Return 3Y | 79.49% |
| Return 5Y | 53.75% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,278.00 |
| Other income | 52.00 |
| Total income | 1,330.00 |
| Cost of materials consumed | 86.00 |
| Purchases of stock-in-trade | 274.00 |
| Changes in inventories | -485.00 |
| Employee benefit expense | 127.00 |
| Finance costs | 32.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.53 | 0.00 |
| institutions foreign | 0.06 | -0.00 |
| institutions domestic | 0.26 | -0.00 |
| mutual funds | 0.24 | -0.00 |
| public | 0.47 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| DUPLICATE | 2025-09-30 | 2 |
| TRANSCRIPT | 2026-06-30 | 13 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 667.00 | 868.00 | 1,210.00 | 908.00 | 741.00 | 685.00 | 763.00 | 640.00 | 934.00 | 1,224.00 | 1,241.00 | 852.00 | 1,408.00 | 943.00 | 1,988.00 | 1,278.00 |
| Other income | 23.00 | 30.00 | 30.00 | 31.00 | 32.00 | 29.00 | 28.00 | 29.00 | 32.00 | 33.00 | 30.00 | 49.00 | 62.00 | 40.00 | 42.00 | 52.00 |
| Total income | 691.00 | 898.00 | 1,240.00 | 939.00 | 774.00 | 714.00 | 791.00 | 670.00 | 965.00 | 1,257.00 | 1,271.00 | 901.00 | 1,469.00 | 983.00 | 2,030.00 | 1,330.00 |
| Cost of materials consumed | 90.00 | 97.00 | 113.00 | 73.00 | 78.00 | 74.00 | 64.00 | 60.00 | 60.00 | 63.00 | 91.00 | 87.00 | 101.00 | 94.00 | 96.00 | 86.00 |
| Purchases of stock-in-trade | 296.00 | 221.00 | 345.00 | 260.00 | 248.00 | 244.00 | 239.00 | 247.00 | 332.00 | 351.00 | 368.00 | 377.00 | 212.00 | 181.00 | 536.00 | 274.00 |
| Changes in inventories | -581.00 | -520.00 | -269.00 | 94.00 | -217.00 | -184.00 | -215.00 | -1,207.00 | -392.00 | -140.00 | -134.00 | -477.00 | -375.00 | -724.00 | 3.00 | -485.00 |
| Employee benefit expense | 76.00 | 74.00 | 79.00 | 80.00 | 91.00 | 90.00 | 92.00 | 93.00 | 100.00 | 104.00 | 109.00 | 110.00 | 128.00 | 128.00 | 139.00 | 127.00 |
| Finance costs | 63.00 | 66.00 | 61.00 | 61.00 | 64.00 | 61.00 | 59.00 | 54.00 | 49.00 | 47.00 | 45.00 | 31.00 | 32.00 | 30.00 | 44.00 | 32.00 |
| Depreciation and amortisation | 18.00 | 18.00 | 18.00 | 18.00 | 19.00 | 20.00 | 21.00 | 20.00 | 23.00 | 23.00 | 23.00 | 24.00 | 26.00 | 28.00 | 28.00 | 28.00 |
| Other expenses | 693.00 | 906.00 | 826.00 | 336.00 | 466.00 | 386.00 | 521.00 | 1,391.00 | 757.00 | 779.00 | 713.00 | 731.00 | 1,247.00 | 1,226.00 | 1,061.00 | 1,198.00 |
| Total expenses | 656.00 | 863.00 | 1,173.00 | 922.00 | 749.00 | 692.00 | 780.00 | 659.00 | 929.00 | 1,227.00 | 1,215.00 | 883.00 | 1,370.00 | 962.00 | 1,908.00 | 1,261.00 |
| Profit before exceptional items and tax | 34.00 | 35.00 | 67.00 | 17.00 | 25.00 | 21.00 | 11.00 | 11.00 | 36.00 | 29.00 | 56.00 | 19.00 | 99.00 | 21.00 | 122.00 | 69.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 34.00 | 35.00 | 67.00 | 17.00 | 25.00 | 21.00 | 11.00 | 11.00 | 36.00 | 29.00 | 56.00 | 19.00 | 99.00 | 21.00 | 122.00 | 69.00 |
| Current tax | 31.00 | 4.00 | 24.00 | 11.00 | 26.00 | 34.00 | 53.00 | 44.00 | 16.00 | 12.00 | 93.00 | 37.00 | 49.00 | 59.00 | 55.00 | 61.00 |
| Deferred tax | -16.00 | -1.00 | -5.00 | -6.00 | -16.00 | -28.00 | -49.00 | -39.00 | -6.00 | -4.00 | -78.00 | -32.00 | -23.00 | -54.00 | -26.00 | -43.00 |
| Tax expense | 15.00 | 3.00 | 18.00 | 5.00 | 10.00 | 6.00 | 4.00 | 5.00 | 10.00 | 8.00 | 15.00 | 5.00 | 26.00 | 5.00 | 30.00 | 18.00 |
| Profit for the period | 19.00 | 32.00 | 49.00 | 12.00 | 15.00 | 15.00 | 7.00 | 6.00 | 26.00 | 22.00 | 41.00 | 14.00 | 73.00 | 15.00 | 92.00 | 51.00 |
| Profit attributable to owners | 19.00 | 32.00 | 49.00 | 12.00 | 15.00 | 15.00 | 7.00 | 6.00 | 26.00 | 22.00 | 41.00 | 14.00 | 73.00 | 15.00 | 92.00 | 51.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -3.00 | 0.00 | -2.00 | 0.00 | -2.00 | 0.00 | 0.00 | 0.00 | -3.00 | 0.00 | -0.00 | -0.00 | -4.00 | 0.00 | 1.00 | -0.00 |
| Total comprehensive income | 16.00 | 32.00 | 47.00 | 12.00 | 13.00 | 15.00 | 7.00 | 6.00 | 24.00 | 22.00 | 40.00 | 13.00 | 69.00 | 16.00 | 93.00 | 51.00 |
| Earnings per share, basic | 2.03 | 3.35 | 5.13 | 1.27 | 1.58 | 1.59 | 0.74 | 0.64 | 2.60 | 2.15 | 3.83 | 1.27 | 6.78 | 1.44 | 8.59 | 4.75 |
| Earnings per share, diluted | 2.03 | 3.35 | 5.13 | 1.27 | 1.58 | 1.59 | 0.74 | 0.64 | 2.59 | 2.10 | 3.83 | 1.27 | 6.78 | 1.44 | 8.59 | 4.75 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,442.00 | 3,754.00 | 2,110.00 | 2,731.00 | 3,310.00 | 3,097.00 | 4,039.00 | 5,190.00 |
| Other income | 74.00 | 72.00 | 81.00 | 91.00 | 92.00 | 121.00 | 124.00 | 193.00 |
| Total income | 3,516.00 | 3,826.00 | 2,190.00 | 2,822.00 | 3,402.00 | 3,218.00 | 4,163.00 | 5,384.00 |
| Cost of materials consumed | 276.00 | 300.00 | 186.00 | 198.00 | 366.00 | 289.00 | 274.00 | 379.00 |
| Purchases of stock-in-trade | 1,086.00 | 722.00 | 392.00 | 716.00 | 956.00 | 991.00 | 1,302.00 | 1,440.00 |
| Changes in inventories | -294.00 | -341.00 | -417.00 | -315.00 | -1,101.00 | -522.00 | -1,872.00 | -1,573.00 |
| Employee benefit expense | 236.00 | 246.00 | 177.00 | 230.00 | 294.00 | 353.00 | 405.00 | 504.00 |
| Finance costs | 236.00 | 682.00 | 601.00 | 750.00 | 249.00 | 246.00 | 196.00 | 137.00 |
| Depreciation and amortisation | 62.00 | 72.00 | 79.00 | 72.00 | 68.00 | 78.00 | 90.00 | 106.00 |
| Other expenses | 1,466.00 | 1,712.00 | 1,096.00 | 1,014.00 | 2,426.00 | 1,709.00 | 3,635.00 | 4,130.00 |
| Total expenses | 3,067.00 | 3,393.00 | 2,115.00 | 2,664.00 | 3,258.00 | 3,144.00 | 4,030.00 | 5,124.00 |
| Profit before exceptional items and tax | 448.00 | 433.00 | 75.00 | 158.00 | 145.00 | 74.00 | 133.00 | 260.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 |
| Profit before tax | 448.00 | 433.00 | 75.00 | 158.00 | 145.00 | 74.00 | 133.00 | 260.00 |
| Current tax | 99.00 | 45.00 | 10.00 | 61.00 | 37.00 | 125.00 | 165.00 | 201.00 |
| Deferred tax | 52.00 | 106.00 | 3.00 | -20.00 | 3.00 | -99.00 | -127.00 | -134.00 |
| Tax expense | 151.00 | 152.00 | 13.00 | 41.00 | 41.00 | 25.00 | 38.00 | 66.00 |
| Profit for the period | 297.00 | 282.00 | 62.00 | 117.00 | 104.00 | 49.00 | 95.00 | 193.00 |
| Profit attributable to owners | — | 0.00 | — | 0.00 | 104.00 | 49.00 | 95.00 | 193.00 |
| Profit attributable to non-controlling interests | — | 0.00 | — | 0.00 | 0.00 | 0.00 | — | 0.00 |
| Other comprehensive income | -1.00 | 0.00 | 1.00 | -1.00 | -4.00 | -1.00 | -2.00 | -3.00 |
| Total comprehensive income | 296.00 | 282.00 | 63.00 | 116.00 | 100.00 | 48.00 | 92.00 | 191.00 |
| Earnings per share, basic | 31.33 | 29.69 | 6.57 | 12.32 | 10.99 | 5.18 | 9.28 | 18.09 |
| Earnings per share, diluted | 31.33 | 29.69 | 6.57 | 12.32 | 10.99 | 5.18 | 9.28 | 18.09 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 11,108.00 | 12,576.00 | 13,085.00 | 13,696.00 | 16,228.00 | 17,221.00 | 18,647.00 | 19,518.00 |
| Non-current assets | 1,541.00 | 2,095.00 | 2,119.00 | 2,454.00 | 2,504.00 | 2,555.00 | 2,730.00 | 3,256.00 |
| Current assets | 9,568.00 | 10,481.00 | 10,966.00 | 11,243.00 | 13,724.00 | 14,666.00 | 15,916.00 | 16,261.00 |
| Property, plant and equipment | 414.00 | 413.00 | 427.00 | 465.00 | 489.00 | 515.00 | 566.00 | 621.00 |
| Capital work-in-progress | — | 0.00 | 2.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Goodwill | 22.00 | 0.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 |
| Other intangible assets | 0.00 | 17.00 | 10.00 | 0.00 | 5.00 | 18.00 | 16.00 | 17.00 |
| Inventories | 7,311.00 | 8,761.00 | 8,987.00 | 9,376.00 | 11,014.00 | 11,252.00 | 12,106.00 | 12,826.00 |
| Trade receivables | 186.00 | 158.00 | 170.00 | 165.00 | 226.00 | 186.00 | 177.00 | 277.00 |
| Cash and cash equivalents | 328.00 | 279.00 | 156.00 | 114.00 | 326.00 | 127.00 | 136.00 | 174.00 |
| Total equity and liabilities | 11,108.00 | 12,576.00 | 13,085.00 | 13,696.00 | 16,228.00 | 17,221.00 | 18,647.00 | 19,518.00 |
| Equity | 2,440.00 | 2,495.00 | 2,492.00 | 2,514.00 | 3,506.00 | 4,561.00 | 4,611.00 | 4,720.00 |
| Equity share capital | 95.00 | 95.00 | 95.00 | 95.00 | 101.00 | 107.00 | 107.00 | 107.00 |
| Other equity | 2,346.00 | 2,400.00 | 2,397.00 | 2,419.00 | 3,405.00 | 4,454.00 | 4,504.00 | 4,613.00 |
| Total liabilities | 8,668.00 | 10,081.00 | 10,594.00 | 11,182.00 | 12,722.00 | 12,661.00 | 14,036.00 | 14,798.00 |
| Non-current liabilities | 371.00 | 657.00 | 787.00 | 777.00 | 978.00 | 951.00 | 793.00 | 534.00 |
| Current liabilities | 8,297.00 | 9,424.00 | 9,806.00 | 10,405.00 | 11,744.00 | 11,709.00 | 13,243.00 | 14,264.00 |
| Borrowings, non-current | 380.00 | 614.00 | 728.00 | 716.00 | 832.00 | 766.00 | 608.00 | 407.00 |
| Borrowings, current | 1,830.00 | 1,390.00 | 1,271.00 | 1,197.00 | 689.00 | 365.00 | 403.00 | 595.00 |
| Trade payables | 647.00 | 599.00 | 626.00 | 617.00 | 595.00 | 565.00 | 760.00 | 828.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 647.00 | 1,150.00 | 376.00 | 647.00 | 179.00 | 200.00 | 291.00 | 430.00 |
| Net cash from investing activities | -21.00 | -237.00 | -358.00 | -475.00 | -440.00 | -1,180.00 | -72.00 | -97.00 |
| Net cash from financing activities | -436.00 | -773.00 | -142.00 | -338.00 | 474.00 | 993.00 | -209.00 | -285.00 |
| Purchase of property, plant and equipment | 15.00 | 123.00 | 50.00 | 125.00 | 58.00 | 131.00 | 93.00 | 208.00 |
| Net increase in cash | 189.00 | 140.00 | -123.00 | -166.00 | 213.00 | 13.00 | 9.00 | 48.00 |
| con:CFO.BEFORE_TAX | 580.00 | 1,218.00 | 401.00 | 725.00 | 243.00 | 358.00 | 476.00 | 835.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -99.00 | -175.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 38.00 | 68.00 | 25.00 | 77.00 | 64.00 | 158.00 | 86.00 | 230.00 |
| con:CF_OTHER.OPERATING | 104.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 1.00 | 1.00 | 1.00 | 1.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2024-03-31 | 2024-06-30 | 2024-07-11 | 2024-09-30 | 2024-12-31 | 2025-01-21 | 2025-03-13 | 2025-03-31 | 2025-05-13 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 52.28 | 52.28 | 52.77 | 52.77 | 52.77 | 52.77 | 52.88 | 52.88 | 52.88 | 52.88 | 0.53 | 0.53 | 0.53 | 0.53 |
| Domestic institutions | 17.55 | 18.59 | 19.05 | 23.44 | 24.15 | 24.13 | 24.10 | 23.98 | 25.04 | 24.63 | 0.26 | 0.26 | 0.26 | 0.26 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 23.19 | 0.25 | 0.24 | 0.25 | 0.24 |
| Insurance companies | 1.19 | 1.40 | 1.33 | 0.63 | 0.49 | 0.47 | 0.48 | 0.35 | 0.37 | 0.38 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign institutions | 11.88 | 11.48 | 10.93 | 10.92 | 10.03 | 9.88 | 8.98 | 8.91 | 8.14 | 8.08 | 0.06 | 0.06 | 0.06 | 0.06 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 47.72 | 47.72 | 47.23 | 47.23 | 47.23 | 47.23 | 47.12 | 47.12 | 47.12 | 47.12 | 0.47 | 0.47 | 0.47 | 0.47 |
| Non-institutional | 18.29 | 17.65 | 17.24 | 12.87 | 13.05 | 13.22 | 14.04 | 14.24 | 13.94 | 14.41 | 0.15 | 0.15 | 0.15 | 0.15 |
| Shares outstanding | 94845853 | 94845853 | 94845853 | 94845853 | 94845853 | 106896103 | 106918751 | 106918751 | 106925632 | 106925632 | 106925632 | 106932977 | 106932977 | 106932977 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Sri Durga Devi Property Management Private Limited | Other Related Party | Any other transaction | 2,000,000,000.00 | 1 |
| Sri Parvathy Land Developers Private Limited | Other Related Party | Any other transaction | 2,000,000,000.00 | 1 |
| Sobha Developers (Pune) Limited | Wholly Owned Subsidiary | Any other transaction | 1,592,510,000.00 | 7 |
| BNB Builders Private Limited | Subsidaries | Investment | 255,000,000.00 | 1 |
| Sobha Highrise Ventures Private Limited | Wholly Owned Subsidiary | Any other transaction | 156,340,000.00 | 8 |
| Sobha Contracting Private Limited | Wholly Owned Subsidiary | Any other transaction | 137,930,000.00 | 7 |
| Sobha City | Company has 100 % economic interes | Any other transaction | 93,940,000.00 | 7 |
| Sobha Projects and Trade Private Limited | Other Related Party | Any other transaction | 80,790,000.00 | 3 |
| Kuthavakkam Builders Private Limited | Wholly Owned Subsidiary | Any other transaction | 77,540,000.00 | 4 |
| Kilai Builders Private Limited | Wholly Owned Subsidiary | Any other transaction | 55,230,000.00 | 3 |
| Kuthavakkam Realtors Private Limited | Wholly Owned Subsidiary | Any other transaction | 39,140,000.00 | 3 |
| C.V.S Tech Park Pvt Ltd | Wholly Owned Subsidiary | Any other transaction | 23,420,000.00 | 2 |
| Sobha Developers Employees Gratuity Trust | Other Related Party | Any other transaction | 14,000,000.00 | 1 |
| Sri Kurumba Educational and Charitable Trust | Other Related Party | Any other transaction | 13,810,000.00 | 5 |
| Mr. Jagadish Nangineni | Director and Key Management Person | Any other transaction, Dividend paid, Purchase of fi | 13,780,000.00 | 4 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2025-10-22 | Q2FY26 | SOBHA LIMITED | Read the call |
| 2025-02-12 | Q3FY25 | SOBHA LIMITED | Read the call |
| 2024-11-19 | Q2FY25 | Read the call | |
| 2024-05-22 | Q4FY24 | PASS ION AT WORK, SOBHA LIMITED, {I /CIC/ Securities | Read the call |
| 2024-02-14 | Q3FY24 | SOBHA LIMITED | Read the call |
| 2023-08-11 | Q1FY24 | Read the call | |
| 2023-06-02 | Q4FY23 | SOBHA, SOBHA LIMITED | Read the call |
| 2022-05-23 | Q4FY22 | & COMPLIANCE OFFICER, FINANCE, HEAD,, RELATIONS, SOBHA, SOBHA LIMITED, SOUMYADEEP, l',..SS | Read the call |
What they said about it, quarter by quarter
| Topic | Q1FY24 | Q2FY25 | Q2FY26 | Q3FY24 | Q3FY25 | Q4FY22 | Q4FY23 | Q4FY24 |
|---|---|---|---|---|---|---|---|---|
| Capex | I think I understand last year you did about 300 Crores capex on land and something would have happened year before that also. | The consistent higher inflows quoted an increase in project related CAPEX. | Post financial outflow, capex and dividend payout, we generated net cash flow of INR63.5 crores during Q2 and INR120 crores in H1 ’26. | So I just wanted to get some more colour on how much is the pending capex on land payments to be done in this. | We have incurred ₹1,241 million under capex during 9 months, which is 46.54% more compared to same period last year to support increased area under co… | — | And in terms of land acquisition capex, do you have a number in mind with regards to what kind of projects do you want to add every year or any partic… | — |
| Capital allocation | — | That once we get a good sense of the entire cycle of the project, right from land acquisition to the launch of the project and initial sales of the pr… | And why I’m asking this more specifically is to understand from a competitive landscape perspective that is the cost of acquisition increasing in a ma… | — | And the balance ₹1,100 crores for the land acquisition and general corporate purposes? | — | So just wanted to confirm on like will this non-executive role somehow slow down our growth aspirations, acquisition capital allocation. | And what are the projects, and what are the markets you are targeting in terms of land acquisition? |
| Costs | For an ongoing real estate business, I think the COVID and the cost inflation which was dramatic is something which, I believe is like a black swan ev… | — | We real time monitor all the cost that if we have to take price escalation because of increase in raw material, we take immediately so that we can pro… | — | — | So there isn't much room in terms of like passing on the entire cost inflation. | — | — |
| Debt and cash | Q1 of FY24 has been a good quarter for us, both in terms of sales and cash flows. | Cash flows for H1 FY2025, we achieved a total operational cash inflow of Rs. | October 18, 2025 Looking ahead, we have clear visibility of future cash flow expected from our ongoing and forthcoming inventory. | We have generated positive cash flow for the 13th straight quarter and reduced our net debt. | In addition to this, we are working on our subsequent project land for about 19 million square feet and also actively working on land that can be mone… | Our consistent focus on cash flow and cost management has helped us to reduce net debt by Rs.5.15 billion during the last financial year. | FY 2023 has been an excellent year for us, particularly in two areas - sales, and cash flows. | Positive cash flow generation has been our focus and it continued last year as well. |
| Demand | We have a healthy pipeline of about 15 million square feet expected to be launched in the next two years starting from next quarter. | We have a very strong pipeline of 19.29 million square feet of residential projects over 18 projects and 8 cities and a commercial pipeline of 1.19 mi… | Overall, we have a strong residential pipeline of 15.96 million square feet across 13 projects in 9 cities and commercial pipeline of about 0.74 milli… | That is where probably our advantage comes wherein we already have a good pipeline of projects lined up. | We have a very strong residential pipeline of 21 million square feet across 19 projects in 10 cities and a commercial pipeline of about 1.19 million s… | Due to consistent demand across our product segment and price increase, we were able to achieve the price realization of Rs.8,265 per sq.ft. | While we continue to execute our current order book, new projects will also be sought within our financial and operational requirements. | Hyderabad continues to see a very good demand environment, similarly in Pune. |
| Guidance | In this call I would like to touch upon our last quarter’s performance and briefly on the outlook for the remaining period for this financial year. | In the second half where we expect to launch an additional 5.5 million square feet taking the yearly launches to about 9 million square feet across 4 … | From all completed and ongoing projects, we expect total INR22,867 crores of future inflow. | In this call, we will briefly touch upon our last quarter and 9-month performance and provide an outlook for the last quarter as well. | Given the run rate and the fact that you’er still to launch Townpark, is there a reasonable expectation that you would still be able to meet this guid… | My second question was again on your guidance side. | We anticipate to grow this business next year too with better margins and better working capital management. | We expect the margin to be improved significantly from whenever it is recognized, the balance revenue. |
| Margin | Going forward, the pricing seems to be stable and to a margin increase as we launch new projects and release existing inventory for sale. | The revenue yet to be recognized from the sales that have been done till date, stands at about 14,500 crores and the blended margin for this unrecogni… | We generated EBITDA of INR157 crores in Q2 with margin of 10.7%. | Once they come for recognition, these sales will boost our EBITDA margin in future. | This revenue has profit before tax margin of about 28% at the project level. | Real estate revenue for Q4 stands at Rs.5.33 billion, up by 19% QoQ and 84% YoY, EBITDA for Q4 stands at Rs.1.19 billion, higher by 16%. | Our EBITDA for the year was ₹462 crores at 13.6% EBITDA margin. | 3,218 crores with an EBITDA margin of 12.4%. |
| People | — | — | — | — | — | Our first priority is to invest in the incremental investment that's required for this land bank to monetize it in the form of a project or in terms o… | — | — |
| Pricing | Due to the shift in the mix of sales and better pricing, the average price realization improved sequentially from previous quarter by 6%. | The average price realization has improved by 32% over the last year and 40% compared to the first half of the last year due to the contributions from… | Our total sales for the year were supported by the sale of 1,576 homes, 2.84 million square feet across all operational markets with an average price … | And the other is the like-to-like growth that you would have taken the pricing growth you've taken in projects. | One, in general, real estate pricing has gone up significantly in our operating locations. | May 21, 2022 have sold 1.34 million sq.ft., at value of Rs.11.10 billion and highest ever price realization of Rs.8,255 per sq.ft.. | During the year, we have seen the highest ever increase in our price realization, too, aided by new launches and also release of new towers in existin… | 6,644 crores, an increase of about 28%, area of 6.08 million square feet, and a highest ever average price realization of Rs. |
| Revenue growth | — | — | We generated INR513 crores of net operational cash flow in the quarter for the half year, and it was INR909 crores, registering a significant growth o… | — | And how, is it possible to quantify how big were the losses on the contractual business because on a Q3 over Q2 basis, I see ₹290 crores revenue growt… | — | — | These achievements are a clear reflection of our commitment to maintain a financial discipline and balancing a sustainable growth at the same time. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2025-10-22 | Q2FY26 | SOBHA LIMITED | We aim to complete overall at least 5.5 million square feet in this financial year. |
| 2025-10-22 | Q2FY26 | SOBHA LIMITED | From all completed and ongoing projects, we expect total INR22,867 crores of future inflow. |
| 2025-10-22 | Q2FY26 | SOBHA LIMITED | Additionally, we expect to generate INR7,100 crores of marginal cash flow from forthcoming projects of 16.69 million square feet, which shall be launched over the next 6 quarters and the cash flow realized over 5- to 6-year timeframe. |