Realty stock climbs after record quarterly pre-sales; check target price, outlook
Based on Monday's closing price of Rs 1,452, Nuvama's target price implies a potential upside of 17.22 per cent, while JM's target suggests a possible gain of 22.25 per cent.
- Jul 6, 2026,
- Updated Jul 6, 2026 4:59 PM IST
Shares of Sobha Ltd rose 0.78 per cent on Monday to settle at Rs 1,452 after the Bengaluru-based realty developer reported its highest-ever quarterly pre-sales for the June quarter.
According to Nuvama Institutional Equities, the company delivered a record sales performance during the quarter.
"Sobha's Q1 FY27 overall pre-sales came in at ~Rs 3,660 crore (up 76 per cent YoY/79 per cent QoQ) — its best-ever quarterly pre-sales. The company's share of bookings shot up 74 per cent YoY to Rs 2,990 crore," Nuvama Institutional Equities stated.
The brokerage attributed the strong performance to a robust launch pipeline.
"The strong show was driven by 6.9msf of launches during the quarter, including the much-awaited Hoskote project. Bengaluru's share in overall sales (by value) surged to 57 per cent during the quarter. Realisation rose 9 per cent YoY to Rs 15,655/sft in Q1 FY27," it added.
Nuvama said Bengaluru continues to offer room for volume growth and retained its 'Buy' rating on Sobha with an unchanged target price.
"We reckon Sobha's sales shall improve going ahead, riding better geographical diversification; retain 'BUY' with an unchanged TP of Rs 1,702," it stated.
JM Financial also maintained a positive view on the stock, noting that the company's quarterly pre-sales exceeded its previous peak run rate, supported by strong demand for new project launches.
"Bengaluru delivered its strongest-ever quarterly sales at Rs 2,067 crore (56.5 per cent of total sales), followed by NCR at Rs 1,384 crore (37.9 per cent)," the brokerage stated.
The company said it launched three new projects during the quarter with a combined saleable area of 6.9 million square feet across Bengaluru and Gurugram, while completing 671 homes across eight projects, covering 1.1 million square feet.
JM retained its 'Buy' rating on Sobha and assigned a 12-month target price of Rs 1,775.
Based on Monday's closing price of Rs 1,452, Nuvama's target price implies a potential upside of 17.22 per cent, while JM's target suggests a possible gain of 22.25 per cent. With that being said, the stock has risen 12.18 per cent over the past one month.
Shares of Sobha Ltd rose 0.78 per cent on Monday to settle at Rs 1,452 after the Bengaluru-based realty developer reported its highest-ever quarterly pre-sales for the June quarter.
According to Nuvama Institutional Equities, the company delivered a record sales performance during the quarter.
"Sobha's Q1 FY27 overall pre-sales came in at ~Rs 3,660 crore (up 76 per cent YoY/79 per cent QoQ) — its best-ever quarterly pre-sales. The company's share of bookings shot up 74 per cent YoY to Rs 2,990 crore," Nuvama Institutional Equities stated.
The brokerage attributed the strong performance to a robust launch pipeline.
"The strong show was driven by 6.9msf of launches during the quarter, including the much-awaited Hoskote project. Bengaluru's share in overall sales (by value) surged to 57 per cent during the quarter. Realisation rose 9 per cent YoY to Rs 15,655/sft in Q1 FY27," it added.
Nuvama said Bengaluru continues to offer room for volume growth and retained its 'Buy' rating on Sobha with an unchanged target price.
"We reckon Sobha's sales shall improve going ahead, riding better geographical diversification; retain 'BUY' with an unchanged TP of Rs 1,702," it stated.
JM Financial also maintained a positive view on the stock, noting that the company's quarterly pre-sales exceeded its previous peak run rate, supported by strong demand for new project launches.
"Bengaluru delivered its strongest-ever quarterly sales at Rs 2,067 crore (56.5 per cent of total sales), followed by NCR at Rs 1,384 crore (37.9 per cent)," the brokerage stated.
The company said it launched three new projects during the quarter with a combined saleable area of 6.9 million square feet across Bengaluru and Gurugram, while completing 671 homes across eight projects, covering 1.1 million square feet.
JM retained its 'Buy' rating on Sobha and assigned a 12-month target price of Rs 1,775.
Based on Monday's closing price of Rs 1,452, Nuvama's target price implies a potential upside of 17.22 per cent, while JM's target suggests a possible gain of 22.25 per cent. With that being said, the stock has risen 12.18 per cent over the past one month.