Sobha - Resilient Performance;  Reduction In Debt Levels Remain Key: ICICI Securities

Sobha Ltd.’s Lifestyle project in Bangalore. (Source: Company website)

Sobha - Resilient Performance; 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

As per Sobha Ltd.’s business update, the company has achieved Q1 FY22 gross sales bookings of 0.90 million square feet worth Rs 6.8 billion which were up 38% YoY in volume terms and 40% YoY in value terms driven by Bengaluru and Gurugram markets.

While Q1 FY21 was a washout with a complete lockdown across India, the improved Q1 FY22 performance reflects ability of leading developers to utilise digital channels to drive sales.

Also, a partial lockdown during the second Covid-19 wave in Q1 FY22 has been less disruptive to operations with construction activities continuing across sites.

Click on the attachment to read the full report:

ICICI Securities Sobha Company Update.pdf

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