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HDFC Securities targets 66% upside for Sobha to ₹1,930
The brokerage expects Sobha sales of more than ₹10,000 crore in FY27, supported by new launches in Bengaluru, the National Capital Region and Pune.
HDFC Securities maintained a buy rating on real estate developer Sobha and set a target price of ₹1,930, which it said would imply more than 66% upside from Sobha’s October 9 closing price of ₹1,161.70, according to LiveMint Markets.
The brokerage tied its outlook to record first-half presales, a strong pipeline of new residential projects, and an expected recovery in profit margins, while also pointing to planned launches being executed alongside sustained demand.
HDFC Securities also said it expects Sobha to clock sales of more than ₹10,000 crore in FY27, supported by new launches across Bengaluru, the National Capital Region, and Pune.
The brokerage noted that presales remained resilient in the September quarter, even as they declined sequentially after a record performance in the prior quarter, and it cited pricing strength and execution capabilities as factors supporting growth through the rest of FY27.