Sobha LimitedQ1 FY27 Results & Financial Update
Sobha Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,278.15 Cr, PAT ₹50.85 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Sobha Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Sobha Limited commenced fiscal year 2027 by registering its highest-ever quarterly sales value, supported by robust demand for premium homes and successful project introductions.
According to the company's official press release, quarterly real estate sales value reached Rs. 36.56 billion, reflecting a 76% year-on-year increase.
The operational expansion was driven by successful new project launches in key micro-markets such as Bengaluru and Gurgaon.
Collections during the quarter rose by 8% year-on-year to reach Rs. 19.24 billion, indicating strong cash inflows from ongoing and completed customer receivables.
The company maintained a net debt-negative position at Rs. -6.59 billion, resulting in a net debt-to-equity ratio of -0.14 at the close of June 2026.
Profit after tax was ₹50.85 Cr for the reported quarter. EPS was ₹4.75 for the reported quarter.
01 · Business model
What does Sobha do?
Founded in 1995, Sobha Limited operates as a prominent national real estate developer offering residential homes as well as commercial and contractual projects.
The company differentiates its operating model through an extensive backward integration framework, retaining in-house capabilities across design, engineering, and manufacturing units to uphold execution quality.
Sobha has cumulatively delivered 154.23 million square feet of developable area across 27 Indian cities, anchored by a workforce of approximately 4,400 employees.
The economic model relies on acquiring land parcels, executing high-value residential launches in key urban centres, and capturing real estate sales and collections.
02 · Historical context
What shaped the business before this quarter
Since its founding in 1995, Sobha has expanded its footprint across 27 Indian cities, achieving a cumulative delivery milestone of 154.23 million square feet of developable area.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,278.15 Cr |
| Total income | ₹1,330.17 Cr |
| Profit before tax | ₹69.12 Cr |
| Profit after tax | ₹50.85 Cr |
| EPS | ₹4.75 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 4.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 5.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹52.02 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The sold new area increased to 2.34 million square feet in Q1 FY27, reflecting a 62% year-on-year growth rate.
Average price realization stood robust at Rs. 15,655 per square foot during the quarter.
05 · Demand, customers & order book
Where demand is coming from
Achieved record quarterly sales of over Rs. 3,600 crore (Rs. 36.56 billion) across 2.34 million square feet.
Collections reached Rs. 19.24 billion in Q1 FY27, showing an 8% year-on-year increase reflecting sustained customer trust and timely project progress.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Growth during the quarter was primarily anchored by successful new residential project launches in Bengaluru and Gurgaon.
Geography and market mix
Operations span 27 Indian cities with a primary focus on major metropolitan hubs.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company leverages in-house manufacturing units and backward integration to support construction quality and delivery schedules across projects.
Projects, capex and execution
Launched 6.89 million square feet of saleable area across three projects spanning two cities during Q1 FY27.
08 · Reported developments
What changed operationally
Delivered highest-ever quarterly sales of over Rs. 3,600 crore in Q1 FY27.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Robust collections of Rs. 19.24 billion provided healthy liquidity inflows during the quarter.
Capital allocation & funding
Net debt stood at a negative Rs. -6.59 billion, translating to a comfortable net debt-to-equity ratio of -0.14.
10 · Management guidance & targets
What management is targeting from here
Management stated that the company is well-positioned to sustain sales momentum supported by a strong pipeline of upcoming projects.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Management Commentary
Managing Director Jagadish Nangineni noted that achieving record quarterly sales highlights customer trust, team dedication, and the effectiveness of the company's backward integration model.
12 · Key Q&A
The quarter, answered directly
What does Sobha do?
Founded in 1995, Sobha Limited operates as a prominent national real estate developer offering residential homes as well as commercial and contractual projects.
What is the clearest takeaway from Q1 FY27?
Sobha Limited commenced fiscal year 2027 by registering its highest-ever quarterly sales value, supported by robust demand for premium homes and successful project introductions.
What drove revenue or demand?
The sold new area increased to 2.34 million square feet in Q1 FY27, reflecting a 62% year-on-year growth rate.
What mattered most for margins or profitability?
Robust collections of Rs. 19.24 billion provided healthy liquidity inflows during the quarter.
What changed operationally beyond the headline numbers?
The company leverages in-house manufacturing units and backward integration to support construction quality and delivery schedules across projects.
What is management guiding or targeting from here?
Management stated that the company is well-positioned to sustain sales momentum supported by a strong pipeline of upcoming projects.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Project Execution Pace: Monitor the construction progress and delivery timelines of the 6.89 million square feet of newly launched saleable area.
- 02
Sales Sustenance: Track quarterly real estate sales value and realization rates across key markets like Bengaluru and Gurgaon in subsequent quarters.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.