Buy Sobha, target price Rs 902: ICICI Securities

ICICI Securities has buy call on Sobha with a target price of Rs 902. The current market price of Sobha Ltd. is Rs 755.2.
Time period given by analyst is one year when Sobha Ltd. price can reach defined target.

Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 6978.28 Crore) operating in Real Estate sector.


Sobha Ltd. key Products/Revenue Segments include Property Development, Income From Construction Work, Income From Glazing, Income From Interiors, Income From Financial Services, Concrete Blocks, Land Development Rights, Rental Income, Scrap for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 697.50 Crore, down -16.20 % from last quarter Total Income of Rs 832.30 Crore and up .17 % from last year same quarter Total Income of Rs 696.30 Crore. Company reported net profit after tax of Rs 32.70 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.99 per cent stake in the company as of 31-Dec-2021, while FIIs owned 18.06 per cent, DIIs 12.65 per cent.