Sobha Q4 Review - Record Quarter For Sales Bookings; Reduction In Debt Levels Remain Key: ICICI Securities
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Sobha Ltd. achieved its highest ever quarterly gross sales bookings in Q4 FY21 at 1.34 million square feet worth Rs 10.7 billion which is up 48% YoY in volume terms and 54% YoY in value terms.
A strong QoQ uptick in Bengaluru and continued momentum in Kochi/Gurugram markets has enabled the company to cross pre-Covid-19 sales bookings.
For H2 FY21, the company has achieved its guidance of achieving a YoY growth in sales bookings (up 25% YoY in volume and 38% YoY in value) and has ended FY21 with flattish gross sales volumes of 4.01msf worth Rs 31.4 billion (the company share at Rs 24.8 billion).
We maintain our FY22/23E sales volume estimates of 4.7/5.0msf, respectively.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.