SOBHA

** Nuvama says housing sales value fell 6% y/y in December quarter, steepest since the upcycle began in 2021

** India's real estate sector has logged strong growth since 2021 after years of stagnation

** Remains "neutral" on housing stocks despite correction

** Nifty Realty index .NIFTYREAL down 9.2% this week, set for biggest drop in about 11 months

** Godrej Properties GODR.NS, Lodha Developers LODH.NS slide 15.3% and 13.5% for the week, respectively

** Brigade Enterprises BRIG.NS falls 9.3%, Oberoi Realty OEBO.NS down 11.3% and Sobha Ltd SOBH.NS loses 12.3%

** Nuvama believes correction likely to continue due to concerns about pre-sales growth

** Says, housing volumes would remain soft until developers reduce focus on luxury segment and reorient towards mid-income and premium segment, and focus on improving affordability by keeping prices and ticket size contained

** Prestige Estates Projects PREG.NS is top pick; says companies with sizeable annuity portfolio should still do well on a relative basis

(Reporting by Vivek Kumar M)

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** Indian realty stocks .NIFTYREAL drop 3.6%

** Sub-index on track to lose the most in a day since July 2025

** Nine of 10 constituents trading lower; losses led by real estate developers Oberoi Realty OEBO.NS and Sobha SOBH.NS on weak third-quarter results

** OEBO biggest loser with 7.5% slump, trailed by SOBH's 5% drop

** Realty index top sectoral loser on the day; benchmark Nifty 50 .NSEI trading 0.6% lower

** Sub-index down 8.1% so far in January vs Nifty's 2.7% decline

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Indian real estate developer Sobha SOBH.NS fall nearly 4% to 1468 rupees, lowest since Jan. 2

** Co posts a nearly 29% fall in Q3 profit y/y, rev falls 23% y/y

** Jefferies ("hold", PT at 1650 rupees) says earnings missed its expectations due to project completion delays, but margin recovery is likely going forward

** However, adds that co's maintained good operating performance in Q3; co has strong launch pipeline, strong pre-sales, Jefferies says

** SOBH rated "buy" on avg by 14 analysts covering it; median PT at 1850 rupees - data compiled by LSEG

** In 2025, SOBH lost 7.45%

(Reporting by Komal Salecha in Bengaluru)

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** Sobha SOBH.NS rises 2.92% to 1,534.2 rupees; stock up 3.9% in pre-open trade

** Real estate developer's Q3 sales grows 52.3% y/y

** Launches three projects across three cities in reported quarter, with saleable area of 932,171 square feet

** Stock rated "Buy" on average; median PT at 1,850 rupees, per data compiled by LSEG

** SOBH fell 7.5% in 2025

(Reporting by Mridula Kumar in Bengaluru)

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** Shares of Indian homebuilder Sobha SOBH.NS lose initial gains, last down 1.4%

** Next set of large launches are from late Q3, consistency needed for targeted FY26 growth - Jefferies

** Adds Q1 sales uptick largely driven by strong response in NCR market, while core Bengaluru region remains muted

** Real estate firm reported Q1 profit jump, rev rise on Fri

** Jefferies rates the stock "hold" vs avg rating of stock "buy" - data compiled by LSEG

** YTD stock up 1%

(Reporting by Hritam Mukherjee in Bengaluru)

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July 25 (Reuters) - Sobha Ltd SOBH.NS:

• SOBHA Q1 CONSOL NET PROFIT 136.2 MILLION RUPEES

• SOBHA Q1 CONSOL REVENUE FROM OPERATIONS 8.52 BILLION RUPEES

Source text: ID:nNSEbVTzkm

Further company coverage: SOBH.NS

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** Sobha SOBH.NS jumps ~7% to 1,550 rupees

** Real estate developer top pct gainer on Nifty Realty index .NIFTYREAL, which is up 1.2%

** According to Investec and HSBC, FY26 to be co's year to rebound in terms of launches after lacklustre FY25

** HSBC says management forecasting 33% core profit margins at project level vs current 10% levels; expects FY26 to be "much-awaited turnaround year"

** Hikes PT to 1,850 rupees from 1,650 rupees

** Investec says "strong" inaugurations planned for FY26 and FY27, with co intending to launch 18.56 million square feet of area in FY26, more than double the amount in FY25

** Retains PT at 2,150 rupees

** Both brokerages maintain "buy"; stock rated "buy" on avg, per data compiled by LSEG

** YTD SOBH down 2% vs NIFTYREAL's ~7% decline

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Sobha SOBH.NS up 4% to 1,442.7 rupees
** The property developer's Q4 consol net profit soared nearly six-fold to 408.6 mln rupees ($4.8 mln) on new apartment launches and strong price growth
** Revenues jumped 62.6%
** Stock set to rise for a third straight month
** More than 580,000 shares traded, 3x its 30-day moving avg
** Avg rating of 15 analysts is "buy", median PT is 1,610 rupees, ~11% higher than current price - data compiled by LSEG
** YTD SOBH down ~8%, while rivals Brigade Enterprises BRIG.NS and Prestige Estates Projects PREG.NS down ~12% and ~11%, respectively

(Reporting by Anuran Sadhu in Bengaluru)

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** India’s DLF DLF.NS climbs 4.6% to 771 rupees

** Set for fifth straight session of gains

** Realtor's consolidated net profit jumps 39% Y/Y on strong demand for its luxury offerings

** Despite no significant launches in the quarter, DLF's pre-sales were above estimates, says Jefferies

** DLF maintains a "robust" pipeline of projects, including key upcoming launches such as Privana Phase 3 in Goa and Mumbai, that will significantly contribute to its sales momentum, say JP Morgan analysts

** Avg rating on DLF, rivals Sobha SOBH.NS and Prestige Estates Projects PREG.NS at "buy" - data compiled by LSEG

** YTD, all three stocks record fall - DLF 6.7% vs PREG 14% and SOBH 13%. Realty index .NIFTYREAL down 11.4%

(Reporting by Kashish Tandon in Bengaluru)

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** India's Nifty Realty index .NIFTYREAL rises 2.5%

** Macrotech Developers MACE.NS, Godrej Properties GODR.NS, DLF DLF.NS up 4.7%, 3.4%, and 2.5%, respectively

** Phoenix Mills PHOE.NS up 2.1%, Sobha Ltd SOBH.NS gains 2%, and Prestige Estates Projects PREG.NS rises 1.6%

** 8 out of 10 constituents of NIFTYREAL gain

** Arkade Developers ARKD.NS Chairman and MD says stamp duty registrations in Mumbai for April grew 1.6% Y/Y

* Adds, "while the rise may appear modest, it indicates sustained end-user confidence and underlying demand in Mumbai"

** NIFTYREAL down ~15% YTD

(Reporting by Vijay Malkar)

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April 8 (Reuters) - Sobha Ltd SOBH.NS:

• SOBHA LTD - RECORDS SALES VALUE OF 62.77 BILLION RUPEES IN FY 2025

• SOBHA LTD - RECORDS Q4 FY 2025 SALES VALUE OF 18.36 BILLION RUPEES

Source text: ID:nNSEbc5V69

Further company coverage: SOBH.NS

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March 31 (Reuters) - Sobha Ltd SOBH.NS:

• GOT TAX DEMAND ORDER WORTH 103.8 MILLION RUPEES

  
  

Source text: ID:nBSE6yYgYp

Further company coverage: SOBH.NS

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March 4 (Reuters) - Sobha Ltd SOBH.NS:

• SOBHA LTD - UNIT GETS TAX DEMAND FOR 44.3 MILLION RUPEES, INTEREST DEMAND FOR 24 MILLION RUPEES

Source text: ID:nBSE277zvY

Further company coverage: SOBH.NS

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** Nifty realty index .NIFTYREAL drops 3%, down for the third straight day

** In nine sessions so far in February, NIFTYREAL lost in six

** Sub-index ~27% below all-time high logged in June 2024

** On Wednesday, nine of NIFTYREAL's 10 constituents fell; Macrotech MACE.NS only stock to buck wider weakness

** Sub-index's heaviest stock DLF DLF.NS down 3.8% in fourth straight session of losses

** Prestige Estates PREG.NS top pct loser after dropping 4%, extends retreating run for eighth straight session

** Ambit Capital's Karan Khanna says, "Pace of project launches have improved so far in the quarter, but it is still lagging market expectations"

** Sobha SOBH.NS down ~12% so far this week; cut its FY25 sales growth on Friday

** YTD, NIFTYREAL's 19% drop steeper than benchmark Nifty 50's .NSEI 3% slip

(Reporting by Hritam Mukherjee in Bengaluru)

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** India homebuilder Sobha SOBH.NS falls 6.6% to end at 1,202.35 rupees, dropping for the fourth session in a row

** Sobha expects sales to be flat in FY25 vs prior view of 20% growth, it said on Friday after posting Q3 results that showed it relied on older projects for growth

** Since the results, at least 10 of 13 brokerages covering the stock have lowered their price targets, per LSEG data

** CLSA keeps "underperform", cuts PT to Street-low of 1,150 rupees saying the guidance indicates slower-than-expected new launches

** Jefferies keeps "hold", cuts PT to 1,450 rupees, saying Sobha will not meet its forecast even if launches in core market Bengaluru revives in Q4

** Motilal Oswal cuts PT to 2,058 rupees, but keeps "buy", betting on growth due to ongoing fundraising, land acquisitions

** Avg rating of analysts is "buy" and mean PT is 1850.62 rupees -LSEG data

** Sobha has lost 13.5% in 4-session losing run, while Nifty realty index .NIFTYREAL has fallen 6.8%

(Reporting by Hritam Mukherjee in Bengaluru)

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Feb 6 (Reuters) - Sobha Ltd SOBH.NS:

• GETS DEMAND ORDER FOR TAX OF 325.1 MILLION RUPEES, PENALTY OF 330.5 MILLION RUPEES

Source text: ID:nNSE7DB2F7

Further company coverage: SOBH.NS

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Feb 1 (Reuters) - Shares of Indian real estate companies rose on Saturday after the government announced measures to boost the spending power of the middle class in Asia's third-biggest economy, likely spurring investments in the residential housing space.

India's plan to cut income tax rates in the 2025-26 budget was widely welcomed by investors and experts, as it boosts disposable income in a country grappling with sluggish consumption in recent quarters.

The Nifty realty index .NIFTYREAL rose 3.3% and was set for its best day in nearly eight months.

Eight of the ten members in the sub-index were trading higher, with realtors Prestige Estates PREG.NS, DLF DLF.NS and Sobha SOBH.NS climbing between 2% and 6%.

"This move is expected to strengthen demand for affordable housing," said Anuj Puri, chairman of ANAROCK Group.

Middle-class homebuyers, landlords, and investors can now benefit from reduced tax liabilities, better affordability, and fewer compliance hassles, Puri added.

Badal Yagnik, CEO of Colliers India, also echoed the sentiment and said the rationalization of taxes and enhancement of exemption limits can boost disposable income, spurring consumption levels and real estate investments, particularly in residential real estate and alternate financial instruments such as REITs.

The government also made room for homeowners to claim two self-occupied properties as tax-free, as compared to only one earlier, a move likely benefiting residential real estate investment.

This step minimizes tax pressures, promotes homeownership, and facilitates real estate investment, especially in second homes and Tier 2 and 3 cities, Puri said.

Other consumption-linked sectors were also trading higher on the day after the cut to income tax.

(Reporting by Indranil Sarkar and Kashish Tandon in Bengaluru; Editing by Eileen Soreng)

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Jan 30 (Reuters) - Sobha Ltd SOBH.NS:

• GETS TAX ORDER FOR 14.1 MILLION RUPEES, PENALTY 93.5 MILLION RUPEES

Source text: ID:nBSE8JqPlY

Further company coverage: SOBH.NS

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** Shares of Sobha SOBH.NS fall 2.6% to 1,474.8 rupees

** Stock top loser on Nifty Realty Index .NIFTYREAL, which is down 0.72%, with 9 out of its 10 constituents trading in the red

** The property developer said on Tuesday its total sales value fell 29% Y/Y to 13.89 bln rupees ($161.9 mln) in Q3

** Co hurt by a 39% fall in new sales area during the quarter

** 14 analysts covering the stock on avg have a "buy" rating; median PT is 2,025 rupees - data compiled by LSEG

** SOBH gained 64% in 2024 vs a 34% rise in NIFTYREAL

($1 = 85.8200 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of Sobha Ltd SOBH.NS rise 1.3% to 1,536 rupees

** Investec initiates coverage on SOBH with 'buy', sets PT of 2,150 rupees ($25.45)

** Brokerage says strong project pipeline to drive pre-sales; expects annual launches to grow over next 2 years

* Adds, co has significantly reduced debt over the last 3 years and has been outperforming peers

** More than 291,000 shares change hands, 1.6x the 30-day avg

** 14 analysts covering the stock on avg have a "buy" rating; median PT is 2,025 rupees - LSEG data

** Stock up 60% YTD

($1 = 84.4925 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 14 (Reuters) - Sobha Ltd SOBH.NS:

• SEPT-QUARTER CONSOL NET PROFIT 260.9 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 9.34 BILLION RUPEES

• APPROVED ISSUANCE OF NCDS WORTH UP TO 4 BILLION RUPEES

Source text: ID:nBSE4lQjzG

Further company coverage: SOBH.NS

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Nov 8 (Reuters) - Sobha Ltd SOBH.NS:

• SOBHA - TO CONSIDER PROPOSAL FOR FUND RAISING BY ISSUANCE OF NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSE2wRGlL

Further company coverage: SOBH.NS

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Oct 15 (Reuters) - Sobha Ltd SOBH.NS:

• SOBHA - NATIONAL STOCK EXCHANGE OF INDIA ISSUED AN ADVISORY LETTER

Source text for Eikon: ID:nBSE1nvXRh

Further company coverage: SOBH.NS

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** Shares of property developer Sobha SOBH.NS fall 2.9% to 1,693 rupees

** Co on Monday said in its Q2 total sales value fell 31.6% Y/Y

** Adds, Q2 total new sales amounted to 929,907 sq ft, down from 1.69 mln sq ft a yr earlier

** SOBH top loser on the Nifty realty index .NIFTYREAL, down 0.6%

** Stock set to extend losses for an eighth straight session

** Stock gained ~76% YTD vs ~30% jump in NIFTYREAL

(Reporting by Yagnoseni Das in Bengaluru)

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Oct 7 (Reuters) - Sobha Ltd SOBH.NS:

• Q2-FY25 SALES VALUE OF 11.79 BN RUPEES

• Q2 AVERAGE PRICE REALIZATION AT 12,674 RUPEES/SFT

Source text for Eikon: ID:nBSE354xqP

Further company coverage: SOBH.NS

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** Shares of real estate developer Puravankara PURA.NS up 4.1%

** Bengaluru-based co on Thursday said it won redevelopment rights of a luxury society project in Mumbai, measuring 2,000 square meters land

** PURA shares are up ~ 142% YTD, top gainer among peers

** YTD, DLF DLF.NS up 18%, Godrej Properties GODR.NS up 43%, Prestige Estate PREG.NS up 59%, Sobha SOBH.NS up 87%, and Brigade Enterprises BRIG.NS up 47%

** Nifty realty index .NIFTREAL is up 34% YTD

(Reporting by Sethuraman NR in Bengaluru)

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Aug 8 (Reuters) - Sobha Ltd SOBH.NS:

• SOBHA Q1 CONSOL PROFIT 60.6 MILLION RUPEES

• SOBHA Q1 CONSOL REVENUE FROM OPERATIONS 6.40 BILLION RUPEES

Source text for Eikon: ID:nnAPN1Z0BYT

Further company coverage: SOBH.NS

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Updates

** India's Nifty realty index .NIFTYREAL adds ~1.5%, extends gains into second straight session

** India eases new property tax rules to now allow individuals to also opt for property sales with indexation benefits, or for new rule of sales without indexation benefits

** Before the 2-day rally, realty stocks slid ~9% in 10 sessions since new rule was made mandatory in budget on July 23

** The rally cuts losses since budget day to ~7%, while benchmark Nifty 50 .NSEI has dropped ~1%

** All 10 realty index members trading higher, led by DLF's DLF.NS 2.7% increase

** "Move offers flexibility to property sellers and is likely to stimulate investment and sales in the housing market by potentially reducing the tax burden on sellers," says Shishir Baijal, chairman and managing director at Knight Frank India

(Reporting by Hritam Mukherjee and Bharath Rajeswaran in Bengaluru)

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** Shares of property developer Sobha SOBH.NS drop as much as 4.5% to 1,778.75 rupees, last down 3.4%

** SOBH only loser on Nifty realty index .NIFTYREAL, which is up 1.5%

** More than 158,000 shares changed hands in four block deals, at 1,804.25 rupees-1,828 rupees a share - LSEG data

** The range is at a discount to SOBH's last close of 1,862.45 rupees

** Anamudi Real Estates launched a $99 mln block in SOBH, with up to 4.74 mln shares on offer, IFR reports

** Anamudi, SOBH did not immediately respond to Reuters' requests for comment

** Trading vols near 5x 30-day avg

** Stock has surged ~88% YTD vs NIFTYREAL's 38% jump

(Reporting by Hritam Mukherjee in Bengaluru)

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Updates

** India's Nifty realty index .NIFTYREAL reverses early gains to trade 3.2% lower, on track for worst day since June 4

** Government cuts long term capital gains tax (LTCG) on property sales to 20% (with indexation) to 12.5% (without indexation)

** Indexation allows raising the purchase price of an investment to adjust for inflation, which would mean a lower profit at sale, leading to lower taxes

** The indexation removal could lead to higher taxable gains, especially for properties held for a long time, said Amit Maheshwari, tax partner at AKM Global

** DLF DLF.NS fall 4.5%, while Brigade BRIG.NS, Macrotech MACE.NS and Godrej Properties GODR.NS drop 3.5%-4%

** Realty stocks had risen earlier after the government allocated 10 trln rupees ($119.6 bln) in urban housing boost

($1 = 83.6410 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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