Emkay keeps INR 1,900 target for Sobha stock

Published on 10/06/2026 at 16:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Emkay keeps a Buy rating and INR 1,900 target on October 6, 2026. Sobha stock posted first-half fiscal 2027 sales of INR 58.62 billion.

Sobha, INE671H01015, Illustration mit AI erstellt.

Sobha (INE671H01015) has an INR 1,900 analyst target from Emkay Global Financial Services, which maintained its Buy rating on October 6, 2026. The call follows first-half fiscal 2027 sales value of INR 58.62 billion, up 47.20 percent from the year-earlier period.

Emkay sees stronger project mix

According to Investment Guru India on October 6, 2026, Emkay expects Sobha to exceed fiscal 2027 pre-sales of INR 110.0 billion to INR 120.0 billion against company guidance of INR 106.0 billion. The brokerage cited planned launches with gross development value of INR 70.0 billion to INR 90.0 billion in the second half of fiscal 2027.

Emkay also expects margins to improve as higher-margin projects move into recognition from the second half of fiscal 2027. The research note said project-level earnings before interest, taxes, depreciation and amortization margins exceed 35.00 percent on selected owned projects, while reported margins remain in the single digits.

Sales rise but quarterly pace slows

According to CNBC TV18 on October 3, 2026, Sobha's second-quarter fiscal 2027 sales value reached INR 22.06 billion, 16.00 percent above the year-earlier quarter. The sequential comparison was weaker, with sales value down 40.00 percent from INR 36.56 billion in the June quarter.

The operating mix gives the numbers a useful second reading. Sales area increased 32.40 percent year over year in the first half of fiscal 2027 to 3.76 million square feet, while average price realization rose to INR 15,604 per square foot from INR 14,028. That combination points to both volume and pricing contributing to the first-half increase.

Market value and trading range

Sobha's market capitalization was INR 127.3 billion on October 6, 2026, and its 52-week range was INR 1,130.00 to INR 1,732.00. The valuation backdrop leaves the analyst target 59.56 percent above the latest structured quote of INR 1,190.70 dated October 6, 2026, using the same INR currency.