Buy Sobha, target price Rs 960: Motilal Oswal

Motilal Oswal has buy call on Sobha Ltd. with a target price of Rs 960. The current market price of Sobha Ltd. is Rs 775.5.

Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 7296.02 Crore) operating in Real Estate sector.

Sobha Ltd. key Products/Revenue Segments include Income from Sale of Commercial Flats, Shops & Plots, Sale of services, Income From Glazing, Income From Interiors, Concrete Blocks, Rental Income, Other Operating Revenue, Scrap for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 773.64 Crore, down -17.63 % from last quarter Total Income of Rs 939.24 Crore and up 12.02 % from last year same quarter Total Income of Rs 690.60 Crore. Company reported net profit after tax of Rs 14.95 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 52.28 per cent stake in the company as of 30-Sep-2023, while FIIs owned 11.22 per cent, DIIs 14.95 per cent.