Sobha Limited Q4 FY26 Earnings Call Transcript Released
Sobha Limited reported record real estate sales of ₹8,136 crore in FY26, with a 9.4% price realization increase. The company plans to launch over 10 million sq ft in FY27, expecting 30% sales growth. FY26 collections were ₹7,798 crore, and net operating cash flow was ₹1,637 crore, ending with net cash of ₹800 crore. Unrecognized revenue stands at ₹18,647 crore.
The announcement details record financial performance, strong operational execution, and a robust pipeline of future projects, which are key factors influencing investor sentiment and the company's growth outlook.
The company reported record sales, strong cash flow, and a net cash positive position, along with plans for significant future launches and growth. Management expressed confidence in future performance and margin expansion.
Sobha Limited has released the transcript of its conference call held on May 5, 2026, with analysts and institutional investors. The call, hosted by ICICI Securities Limited, featured insights from Managing Director Mr. Jagadish Nangineni and Chief Financial Officer Mr. Yogesh Bansal.
During the call, Mr. Nangineni highlighted that FY26 was an exceptional year, with real estate sales reaching an all-time high of ₹8,136 crores, achieving an average price realization of ₹14,675 per square foot, a 9.4% increase from the previous year. The company expects a similar growth rate of around 30% in FY27. Bangalore contributed ₹4,500 crores in sales, while NCR recorded ₹2,450 crores, together accounting for 85% of total sales. Sobha launched 6.04 million square feet in FY26 and plans to launch over 10 million square feet in FY27 across multiple cities. The company delivered 3,188 homes (5.4 million square feet) in FY26, a 19% increase year-on-year.
Mr. Bansal reported that for FY26, total collections were ₹7,798 crores, a 26.1% growth over the previous year, with net operating cash flow generating ₹1,637 crores. The company ended the year with a net cash position of ₹800 crores (₹1,802 crores cash and ₹1,002 crores gross debt). Total income for FY26 was ₹5,384 crores, with EBITDA at ₹503 crores and PAT at ₹193 crores. The unrecognized real estate revenue stands at ₹18,647 crores, with expected EBITDA margins of over 30% on completed projects and 24-26% on projects nearing completion.
Looking ahead, Sobha aims for a net operating cash flow of approximately ₹2,000 crores in FY27. The company plans significant launches, including the Hoskote project (5.3 million sq ft, GDV ₹7,000 crores) and Phase 1 of the Gurgaon project (SOBHA Crescent). The company is also evaluating commercial developments in Phase 2 and 3 of Hoskote. New project launches in FY27 are expected to contribute 50-55% of sales, with sustenance sales making up the remaining 45-50%.
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