SOBHA’s ~190msf of land reserve is valued at ₹90b, assuming 25-75 years of monetization. The Co trades at 8.5x FY25E EV/EBITDA (based on FY25E pre-sales), which is at a 15-30% discount to its comparable peers (PEPL, GPL, MLDL & Sunteck). TP ₹2213 (+44%)
SOBHA’s ~190msf of land reserve is valued at ₹90b, assuming 25-75 years of monetization
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