Sobha Ltd eyes massive FY26 comeback with launches past Bengaluru

Within the June quarter (Q1FY26), the corporate reported its highest-ever quarterly pre-sales at ₹2,079 crore—up 11% year-on-year and 13% sequentially. With this, the corporate crossed the ₹2,000 crore threshold in pre-sales for the primary time.

This restoration was pushed by new undertaking launches totalling 1.62 million sq. ft (msf) in Q1, which included Sobha Aurum, the corporate’s debut within the Better Noida market, and the ultimate 4 towers on the Marine One undertaking in Kochi.

On the execution entrance, Sobha accomplished 1.07 msf of developments through the quarter, delivering 594 houses throughout tasks reminiscent of Sobha Royal Pavilion and Sobha Windsor in Bengaluru, Sobha Metropolis in Gurugram, and Sobha Preserve and Sobha Arbor in Chennai.

Importantly, the share of its core market Bengaluru stood at 32% by quantity in Q1FY26, however the Nationwide Capital Area led with a 49% share in geographical combine aided by traction within the Better Noida undertaking. In worth phrases, Bengaluru remained a key market, contributing ₹602.4 crore, supported by gross sales in present tasks like Sobha City Park, Sobha Ayana, and Sobha Neopolis.

A broader geographical footprint is predicted to decrease Sobha’s focus danger and maintain gross sales momentum. The corporate plans to launch new tasks within the second half of FY26 throughout key markets together with Gurgaon (Sector 63A), Pune, Mumbai, and Bengaluru.

“With 19.27 msf of upcoming tasks and a further 24.27 msf of developable land, Sobha has robust visibility into future progress. We count on 9-10 msf to be launched in FY26,” AntiqueStock Broking mentioned in a report dated 8 July. If all of the deliberate launches materialize, Sobha might contact ₹10,000 crore in FY26, estimates Vintage.

Sobha had ended FY25 with pre-sales of ₹6,280 crore, lacking its steering of ₹8,500 crore given firstly of the yr.

If present momentum holds, it might pave the best way for a inventory restoration. Shares of Sobha have fallen 23% previously yr, underperforming the Nifty Realty index’s 12% decline. Launch delays weighed on the corporate’s efficiency final yr.

HDFC Securities’ analysts famous that regulatory approvals are actually again on observe, particularly in key markets such because the NCR and Bengaluru. This easing of bottlenecks is predicted to speed up Sobha’s undertaking launches over the subsequent two to a few quarters. “This revival won’t solely help with undertaking pipeline visibility but in addition assist stock monetization and scale-based margin restoration,” mentioned the HDFC Securities report dated 8 July.