Multibagger realty stock Sobha share price jumps 7%, then wipes out gains despite 292% profit surge in Q1 results

Sobha reported a strong set of numbers for Q1 FY27 with a 292 percent jump in consolidated net profit to about Rs 51 crore and revenue rising 50 percent year-on-year to Rs 1,278 crore, while EBITDA margins expanded to 6.03 percent from 2.82 percent. Quarterly real estate sales value surged 76 percent YoY to Rs 3,656 crore with new area sold up 62 percent to 2.34 million sq ft. Despite the beat, shares gave up early gains of over 7 percent and were trading nearly flat, while the board approved raising up to Rs 1,000 crore through non-convertible debentures.