CLSA on Sobha Out Perform Target Price Rs973 from Rs865 Aimi | Stock Market Latest News

CLSA on Sobha
Out Perform

Target Price Rs973 from Rs865

Aiming for a better 2H

Sustained strong demand, higher number of new launches expected
Sobha had a strong 2QFY22 in terms of pre-sales (highest-ever), cashflows (an Rs1.8bn surplus) and an earnings beat

Sales momentum continued in Oct-21

Co. expects 2H to be better than 1H
2-3msf of new launches planned in 2H

Mgt also expects housing prices to increase 25-30% in the next 2-3 years

Raise FY22-24 pre-sales estimates 6-8%, and increase FY23-24 EPS estimates 5-6%