ICICI Direct has given Hold recommendation for Sobha with a target price of Rs. 960 in its research report issued on Feb 15, 2022

ICICI Direct’s research report on Sobha

Sobha Ltd (Sobha) is a leading real estate player with ongoing real estate projects with ~30.7 mn sq feet of saleable area, and ongoing contractual projects aggregating to 5.9 mn sq ft under various stages of construction. As on Q3FY22, the company has delivered ~115.9 mn sq ft of developable area. The company has a real estate presence in 10 cities, viz. Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Gujarat (Gift City) and Mysore

Outlook

We maintain HOLD rating on the company. We value Sobha at Rs 960/share.

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