Sobha Limited has informed the exchange about transcript of conference call held on May 30, 2025.
SOBHA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sobha held its Q4 FY'25 earnings call hosted by ICICI Securities. FY'25 real estate sales stood at Rs. 6,277 crore with average realization up 23% YoY to Rs. 13,412/sq ft; Bangalore contributed 58%, Gurgaon 20%, Kerala 13%. Management guided for at least 30-35% sales growth in FY'26, aiming to cross the Rs. 10,000 crore mark, backed by a launch pipeline of 18.56 million sq ft across 18 projects in 9 cities over the next 6-8 quarters. New market entries in Greater Noida and Mumbai are planned in Q1 and Q3 FY'26 respectively. After completing the Rs. 2,000 crore rights issue, the company is net debt negative for the first time (gross debt Rs. 1,131 crore vs cash Rs. 1,761 crore), with average borrowing cost at 9.12%. Management said margins should improve significantly in FY'26, with project-level EBITDA margin of 33% on Rs. 15,873 crore of unrecognized revenue and around 40% on new sales.
Positive for shareholders: net debt-free balance sheet, clear Rs. 10,000 crore sales target for FY'26, diversified geographic expansion, and improving margin trajectory are key catalysts that should support the stock. The shift from net debt to net cash also gives Sobha flexibility for opportunistic land acquisitions.