SOBHA

Sobha Limited

Sobha Limited (SOBHA) financial statements and selected valuation metrics through 30 June 2026.

Consumer Discretionary›Realty›Realty›Residential, Commercial Projects

sobha.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1188.40
Market cap
12,721 Cr
Stock P/E
55.2
P/B
2.69
Dividend yield
0.3%
ROE (FY26)
4.1%
ROCE (FY26)
6.9%
Operating margin (FY26)
3.9%
Debt / equity (FY26)
0.21
OCF / EBITDA (FY26)
138.5%
OCF / EBITDA (3Y)
144.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Sobha builds and sells homes, including plotted developments, and some commercial space, mainly in Bangalore and the National Capital Region (NCR), and says its backward-integrated operating model, in which it does much of the design, manufacturing and construction itself, sets it apart.

Company snapshot

10thBy market cap

Ranked among 79 companies in Residential, Commercial Projects.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 81.2% of revenue

SegmentRevenue shareRevenuePBTAssets
Contractual and manufacturing
23.2%
648 Cr25 Cr—
Finance and other income—0 Cr0 Cr—
Real estate
81.2%
2,266 Cr264 Cr—
Share of profit in a subsidiary partnership firm—0 Cr2 Cr—
Unallocated assets—0 Cr0 Cr—
Unallocated liabilities—0 Cr0 Cr—

Shares add up to 104% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓145% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Interest coverage of 1.5x — earnings barely cover interest payments, which is a warning sign.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales741 Cr685 Cr763 Cr640 Cr934 Cr1,224 Cr1,241 Cr852 Cr1,408 Cr943 Cr1,988 Cr1,278 Cr
Operating expenses (approx.)666 Cr611 Cr701 Cr584 Cr856 Cr1,157 Cr1,147 Cr828 Cr1,312 Cr904 Cr1,836 Cr1,200 Cr
EBITDA75 Cr74 Cr62 Cr56 Cr77 Cr67 Cr94 Cr24 Cr96 Cr39 Cr152 Cr78 Cr
OPM %10.2%10.8%8.1%8.7%8.3%5.5%7.6%2.8%6.8%4.1%7.7%6.1%
Other income32 Cr29 Cr28 Cr29 Cr32 Cr33 Cr30 Cr49 Cr62 Cr40 Cr42 Cr52 Cr
Interest64 Cr61 Cr59 Cr54 Cr49 Cr47 Cr45 Cr31 Cr32 Cr30 Cr44 Cr32 Cr
Depreciation19 Cr20 Cr21 Cr20 Cr23 Cr23 Cr23 Cr24 Cr26 Cr28 Cr28 Cr28 Cr
Profit before tax25 Cr21 Cr11 Cr11 Cr36 Cr29 Cr56 Cr19 Cr99 Cr21 Cr122 Cr69 Cr
Tax %39.4%29.4%35.5%45.4%28.0%26.4%27.3%27.0%26.7%24.9%24.6%26.4%
Net profit15 Cr15 Cr7 Cr6 Cr26 Cr22 Cr41 Cr14 Cr73 Cr15 Cr92 Cr51 Cr
EPS (₹)₹1.58₹1.59₹0.74₹0.64₹2.60₹2.15₹3.83₹1.27₹6.78₹1.44₹8.59₹4.75

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,246 Cr2,787 Cr3,442 Cr3,754 Cr2,110 Cr2,731 Cr3,310 Cr3,097 Cr4,039 Cr5,190 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,826 Cr2,267 Cr2,769 Cr2,639 Cr1,435 Cr1,842 Cr2,941 Cr2,820 Cr3,744 Cr4,880 CrSign in free for the trailing twelve months
EBITDA420 Cr520 Cr673 Cr1,115 Cr675 Cr889 Cr369 Cr277 Cr294 Cr310 CrSign in free for the trailing twelve months
OPM %18.7%18.6%19.6%29.7%32.0%32.6%11.2%8.9%7.3%6.0%Sign in free for the trailing twelve months
Other income39 Cr50 Cr74 Cr72 Cr81 Cr91 Cr92 Cr121 Cr124 Cr193 CrSign in free for the trailing twelve months
Interest150 Cr198 Cr236 Cr682 Cr601 Cr750 Cr249 Cr246 Cr196 Cr137 CrSign in free for the trailing twelve months
Depreciation64 Cr54 Cr62 Cr72 Cr79 Cr72 Cr68 Cr78 Cr90 Cr106 CrSign in free for the trailing twelve months
Profit before tax258 Cr317 Cr448 Cr433 Cr75 Cr158 Cr145 Cr74 Cr133 Cr260 CrSign in free for the trailing twelve months
Tax %37.6%31.6%33.7%35.0%17.2%26.1%28.1%33.8%28.8%25.6%Sign in free for the trailing twelve months
Net profit161 Cr217 Cr297 Cr282 Cr62 Cr117 Cr104 Cr49 Cr95 Cr193 CrSign in free for the trailing twelve months
EPS (₹)₹16.59₹22.67₹31.33₹29.69₹6.57₹12.32₹10.99₹5.18₹9.28₹18.09Sign in free for the trailing twelve months
Dividend payout %————106.6%28.4%27.4%57.9%32.0%16.6%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital96 Cr95 Cr95 Cr95 Cr95 Cr95 Cr95 Cr95 Cr107 Cr107 Cr
Reserves2,548 Cr2,675 Cr2,134 Cr2,336 Cr2,333 Cr2,416 Cr2,400 Cr2,419 Cr4,454 Cr4,613 Cr
Borrowings2,180 Cr2,309 Cr2,443 Cr3,100 Cr2,990 Cr2,453 Cr2,004 Cr1,914 Cr1,131 Cr1,002 Cr
Other liabilities4,069 Cr3,946 Cr6,068 Cr5,481 Cr5,792 Cr6,447 Cr8,077 Cr9,269 Cr11,530 Cr13,796 Cr
Total liabilities8,893 Cr9,025 Cr10,740 Cr11,012 Cr11,210 Cr11,410 Cr12,576 Cr13,696 Cr17,221 Cr19,518 Cr
Fixed assets (net)317 Cr280 Cr284 Cr476 Cr457 Cr420 Cr413 Cr465 Cr515 Cr621 Cr
CWIP0.62 Cr—190 Cr232 Cr0 Cr0 Cr0 Cr0 Cr—0 Cr
Investments0.02 Cr112 Cr316 Cr302 Cr537 Cr489 Cr574 Cr565 Cr569 Cr569 Cr
Loans & advances——0 Cr0 Cr0 Cr0 Cr0.90 Cr0 Cr767 Cr0 Cr
Inventories5,096 Cr4,835 Cr6,517 Cr6,705 Cr7,125 Cr7,427 Cr8,761 Cr9,376 Cr11,252 Cr12,826 Cr
Trade receivables227 Cr327 Cr327 Cr361 Cr194 Cr351 Cr158 Cr165 Cr186 Cr277 Cr
Cash & bank124 Cr106 Cr165 Cr68 Cr164 Cr139 Cr279 Cr114 Cr127 Cr174 Cr
Other assets3,129 Cr3,365 Cr2,941 Cr2,869 Cr2,734 Cr2,584 Cr2,390 Cr3,012 Cr3,805 Cr5,051 Cr
Total assets8,893 Cr9,025 Cr10,740 Cr11,012 Cr11,210 Cr11,410 Cr12,576 Cr13,696 Cr17,221 Cr19,518 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity354 Cr353 Cr206 Cr—613 Cr821 Cr1,150 Cr647 Cr200 Cr430 Cr
Cash from investing2 Cr-129 Cr-61 Cr—-33 Cr38 Cr-237 Cr-475 Cr-1,180 Cr-97 Cr
Cash from financing-345 Cr-243 Cr-86 Cr—-483 Cr-884 Cr-773 Cr-338 Cr993 Cr-285 Cr
Net cash flow10 Cr-18 Cr58 Cr—96 Cr-25 Cr140 Cr-166 Cr13 Cr48 Cr
Free cash flow (OCF − Capex)322 Cr291 Cr98 Cr—573 Cr801 Cr1,027 Cr523 Cr69 Cr221 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.4%10.1%14.7%20.2%12.5%18.3%8.8%7.2%5.8%6.9%
ROE %6.1%7.8%13.3%11.6%2.6%4.7%4.2%2.0%2.1%4.1%
Debtor days37433535334717191719
Inventory days936669298608815213928136408713118401493712315
Days payable141410331496116314311240595779750795
Cash conversion cycle798959397146702412531124478135110811420411539
OCF / EBITDA %84.3%68.0%30.6%—90.8%92.4%311.3%233.7%67.9%138.5%
OCF / EBITDA % (3 years)——56.6%———133.6%170.5%212.3%144.9%
Debt / equity0.820.831.101.281.230.980.800.760.250.21
Current ratio1.401.371.101.141.131.211.111.081.251.14
Net debt / EBITDA4.90—3.382.724.192.604.676.503.412.67