BUZZ-India's Sobha drops after posting a fall in Q3 profit

Reuters01-19
BUZZ-India's Sobha drops after posting a fall in Q3 profit

** Shares of Indian real estate developer Sobha SOBH.NS fall nearly 4% to 1468 rupees, lowest since Jan. 2

** Co posts a nearly 29% fall in Q3 profit y/y, rev falls 23% y/y

** Jefferies ("hold", PT at 1650 rupees) says earnings missed its expectations due to project completion delays, but margin recovery is likely going forward

** However, adds that co's maintained good operating performance in Q3; co has strong launch pipeline, strong pre-sales, Jefferies says

** SOBH rated "buy" on avg by 14 analysts covering it; median PT at 1850 rupees - data compiled by LSEG

** In 2025, SOBH lost 7.45%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))

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