Realty firm Sobha’s pre-sales or bookings in the June quarter (Q1FY27) rose by over 70% each, sequentially and year-on-year, to ₹3,656 crore—the highest ever quarterly figure and ahead of analysts’ expectations. Strong customer response to new launches, including the much-awaited Hoskote luxury project, Sobha OneWorld, drove bookings. Located in East Bengaluru, this 47.4-acre luxury residential project has a gross development value (GDV), or revenue potential, of ₹7,500 crore.
Sacred Grove in Bengaluru and Sobha Crescent, another luxury residential offering with revenue potential of ₹2,200 crore, were unveiled in Q1FY27. Overall, Sobha launched 6.89 million square feet (msf) of saleable area across these three projects and completed 671 homes across eight projects in Q1FY27.
Region-wise, the IT hub and its core market, Bengaluru, clocked the strongest-ever quarterly sales of ₹2,067 crore, followed by the National Capital Region (NCR) at ₹1,384 crore. Kerala, Hyderabad, Pune, and Mumbai are other markets where Sobha has exposure, as it diversifies its geographical mix.
Sobha targets an ambitious 30% year-on-year pre-sales growth in FY27, following a record high of ₹8,136 crore in FY26. Sobha’s FY25 pre-sales were marred by delayed project launches, but it made a comeback in FY26, launching nine projects totalling around 6msf across six cities. It also made a foray into Greater Noida and Mumbai last year. In the Q4FY26 earnings call, Sobha said it has a project launch pipeline of 20msf with a GDV of ₹26,300 crore to be launched over the next six to eight quarters.
Meanwhile, in a recent interaction with Emkay Global Financial Services, the management acknowledged uncertainty around artificial intelligence’s impact on employment (especially in the technology sector), particularly for entry-level jobs, but noted that demand from higher-skilled and higher-income professionals, its core customer base, was resilient. Although rising supply across several markets could limit price appreciation, Sobha expects volume-led growth and continues to focus on margins and cash flow. Q1FY27 average price realization increased 9% year-on-year and 3% sequentially to ₹15,655/sft.
So far in 2026, Sobha stock is up a mere 0.5% versus a 2% return in the Nifty Realty index. Nuvama Research reckons that the Bengaluru market can still deliver volume growth, and Sobha’s sales shall improve going ahead, aided by better geographical diversification. That apart, geopolitical issues and customer response to launches will determine the stock’s trajectory, said the Nuvama report dated 4 July.