Q3 2026 Sobha Ltd Earnings Call Transcript
Key Points
- Sobha Ltd (BOM:532784) achieved an all-time high in real estate sales, reaching INR 6,097 crores in the first nine months of FY26.
- The company saw an 8% increase in average price realization, reaching INR 14,500 compared to last year's INR 13,400.
- Bangalore recorded its highest ever quarterly sales of over INR 1,500 crores, driven by the successful launch of SOBHA Magnus.
- The company expanded its real estate presence to 13 cities across India with new project launches in Mumbai and NCR.
- Sobha Ltd (BOM:532784) maintained a strong financial position with a net operational cash flow of INR 1,270 crores for the first nine months, surpassing the full year FY25.
- Revenue recognition in residential real estate was low this quarter due to delays in obtaining occupancy certificates (OCs) for three projects.
- The company experienced a degrowth in its civil contracts segment, expecting a reduction of INR 150 crores to INR 175 crores from the next financial year.
- There were delays in planned project launches due to a combination of factors, impacting Q4 sales performance.
- The EBITDA for Q3 was only INR 78 crores, and the PAT was INR 15.4 crores, indicating lower profitability.
- Increased construction costs and sales and marketing outflows were noted, impacting net operational cash flow despite strong sales momentum.
Ladies and gentlemen, good day, and welcome to Sobha Limited Q3 FY26 earnings conference call hosted by ICICI Securities Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Adhidev Chattopadhyay from ICICI Securities. Thank you, and over to you, sir.
Yeah. Good evening, everyone. Thank you for joining us on the Sobha Limited call today. From the management, as always, we have with us Mr. Jagadish Nangineni, the Managing Director; and Mr. Yogesh Bansal, the Chief Financial Officer. I would now like to hand over the call to the management for their opening remarks. Sir, over to you. Thank you.
Good evening, everyone. I am wishing everyone a very happy and prosperous new year. Thank you for joining us on this quarter three FY25-'26 call. Thank you, Adhidev, for organizing this. I will briefly touch upon our performance in Q3
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