Finance Update

Sobha gains 2% on robust sales, CLSA sees 26% upside

Last Updated : Apr 09, 2019 11:14 AM IST | Source: Moneycontrol.com






While maintaining buy call on the stock with a price target at Rs 628 apiece, CLSA said Q4 sales have risen at three-quarter-high pace, led partly by increased new launch momentum.













‘);
$(‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]);

//if(resData[stkKey][‘percentchange’] > 0){
// $(‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
// $(‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
//}else if(resData[stkKey][‘percentchange’] = 0){
$(‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”);
//$(‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”);
$(‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”);
}else if(resData[stkKey][‘percentchange’] 0)
{
var resStr=”;

var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’;
$.get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) {
$(‘#backInner1_rhsPop’).html(data);
$.ajax(,
success:function(d)
{
if(typparam1==’1′) // rhs
{
var appndStr=”;
var newappndStr = makeMiddleRDivNew(d);
appndStr = newappndStr[0];
var titStr=”;var editw=”;
var typevar=”;
var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’);
var phead =’Why add to Portfolio?’;
if(secglbVar ==1)
{
var stkdtxt=’this stock’;
var fltxt=’ it ‘;
typevar =’Stock ‘;
if(lastRsrs.length>1){
stkdtxt=’these stocks’;
typevar =’Stocks ‘;fltxt=’ them ‘;
}

}

//var popretStr =lvPOPRHS(phead,pparr);
//$(‘#poprhsAdd’).html(popretStr);
//$(‘.btmbgnwr’).show();
var tickTxt =”;
if(typparam1==1)
{
var modalContent = ‘Watchlist has been updated successfully.’;
var modalStatus = ‘success’; //if error, use ‘error’

$(‘.mc-modal-content’).text(modalContent);
$(‘.mc-modal-wrap’).css(‘display’,’flex’);
$(‘.mc-modal’).addClass(modalStatus);

//console.log(newappndStr);
//var existsFlag=$.inArray(‘added’,newappndStr[1]);
//$(‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’);
//if(existsFlag == -1)
//{
// if(lastRsrs.length > 1)
// $(‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’);
// else
// $(‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’);
//
//}
}

//$(‘.accdiv’).html(”);
//$(‘.accdiv’).html(appndStr);
}
},
//complete:function(d){
// if(typparam1==1)
// {
// watchlist_popup(‘open’);
// }
//}
});
});
}
else
{
var disNam =’stock’;
if($(‘#impact_option’).html()==’STOCKS’)
disNam =’stock’;
if($(‘#impact_option’).html()==’MUTUAL FUNDS’)
disNam =’mutual fund’;
if($(‘#impact_option’).html()==’COMMODITIES’)
disNam =’commodity’;

alert(‘Please select at least one ‘+disNam);
}
}
else
{
AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’;
commonPopRHS();
/*work_div = 1;
typparam = t;
typparam1 = n;
check_login_pop(1)*/
}
}

function pcSavePort(param,call_pg,dispId)
{
var adtxt=”;
console.log(1);
if(readCookie(‘nnmc’)){
if(call_pg == “2”)
{
pass_sec = 2;
}
else
{
pass_sec = 1;
}
var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’;
$.ajax(,

data:,

dataType:”json”,
success:function(d)
{
console.log(2);
//var accStr= ”;
//$.each(d.ac,function(i,v)
//{
// accStr+=”+v.nm+”;
//});
console.log(d);
$.each(d.data,function(i,v)
{
console.log(3);
console.log(v);
console.log(4);
if(v.flg == ‘0’)
{
var modalContent = ‘Scheme added to your portfolio.’;
var modalStatus = ‘success’; //if error, use ‘error’

$(‘.mc-modal-content’).text(modalContent);
$(‘.mc-modal-wrap’).css(‘display’,’flex’);
$(‘.mc-modal’).addClass(modalStatus);
//$(‘#acc_sel_port’).html(accStr);
//$(‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’);
//$(‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false);
//
//if(call_pg == “2”)
//{
// adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x’;
//}
//else
//{
// adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x’;
//}
//$(‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′);
//$(‘#mcpcp_addprof_info’).html(adtxt);
//$(‘#mcpcp_addprof_info’).show();
glbbid=v.id;
}
});
}
});
} else
{
AFTERLOGINCALLBACK = ‘pcSavePort(‘+param+’, ‘+call_pg+’, ‘+dispId+’)’;
commonPopRHS();
/*work_div = 1;
typparam = t;
typparam1 = n;
check_login_pop(1)*/
}

}


function commonPopRHS(e) {
/*var t = ($(window).height() – $(“#” + e).height()) / 2 + $(window).scrollTop();
var n = ($(window).width() – $(“#” + e).width()) / 2 + $(window).scrollLeft();
$(“#” + e).css({
position: “absolute”,
top: t,
left: n
});
$(“#lightbox_cb,#” + e).fadeIn(300);
$(“#lightbox_cb”).remove();
$(“body”).append(”);
$(“#lightbox_cb”).css({
filter: “alpha(opacity=80)”
}).fadeIn()*/

$(“#myframe”).attr(‘src’,’https://accounts.moneycontrol.com/mclogin/?d=2′);
$(“#LoginModal”).modal();
}

function overlay(n)
{
document.getElementById(‘back’).style.width = document.body.clientWidth + “px”;
document.getElementById(‘back’).style.height = document.body.clientHeight +”px”;
document.getElementById(‘back’).style.display = ‘block’;
jQuery.fn.center = function () {
this.css(“position”,”absolute”);
var topPos = ($(window).height() – this.height() ) / 2;
this.css(“top”, -topPos).show().animate({‘top’:topPos},300);
this.css(“left”, ( $(window).width() – this.width() ) / 2);
return this;
}
setTimeout(function(){$(‘#backInner’+n).center()},100);

}
function closeoverlay(n){
document.getElementById(‘back’).style.display = ‘none’;
document.getElementById(‘backInner’+n).style.display = ‘none’;
}
stk_str=”;
stk.forEach(function (stkData,index){
if(index==0){
stk_str+=stkData.stockId.trim();
}else{
stk_str+=’,’+stkData.stockId.trim();
}
});

$.get(‘//www.moneycontrol.com/techmvc/mc_apis/stock_details/?sc_id=’+stk_str, function(data) {
stk.forEach(function (stkData,index){
$(‘#stock-name-‘+stkData.stockId.trim()+’-‘+article_id).text(data[stkData.stockId.trim()][‘nse’][‘shortname’]);
});
});







Sobha shares gained 2.4 percent intraday on April 9 after the company reported an 11 percent (YoY) jump in sales volumes in the fourth quarter of FY19.

Sales bookings for the year stood at a record Rs 3,122.5 crore against Rs 2,861.2 crore in previous financial year, the Bengaluru-based real estate company said in its BSE filing.

“In 2018-19, we have achieved pre-sales of 4.03 million square feet valued at Rs 31.23 billion (Rs 3,123 crore). This is the highest ever new sales booking in the history of the company,” Sobha said.

Among the cities, Bengaluru achieved the highest ever new sales booking of 2.76 million square feet during 2018-19, it added.

As per the data, sales bookings in volume terms rose to 40,29,779 sq ft during 2018-19 from 36,25,390 sq ft in the previous year. However, sales realisation fell to Rs 7,749 per square feet in 2018-19 from Rs 7,892 per square feet in the previous year.

While maintaining buy call on the stock with a price target at Rs 628 apiece, CLSA said Q4 sales have risen at three-quarter-high pace led partly by increased new launch momentum.

“Sales growth reflects improved underlying demand, but liquidity issues have made overall conditions weak for the industry,” it added.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.


First Published on Apr 9, 2019 11:14 am



































Source

Prakash Poojary
Business Analyst

Leave a Reply