Sobha developers - 2QFY14 operations: Bangalore performs again for Sobha - Kotak

Sobha sold over 1 mn sq. ft in 2QFY14 for Rs. 6.3 bn and added another city to its portfolio with a launch in Kozhikode. Strong sales in Bangalore offset weak sales elsewhere. Sobha plans to launch eight residential projects in 2HFY14, which we believe, will give it a sales impetus in a relatively slow market.

We maintain BUY with a 12-month target of Rs. 500.

Source : Equity Bulls

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