Sobha Ltd has confirmed that the conference call with analysts and institutional investors to discuss its Q4FY26 results was held on Tuesday, May 5, 2026. In compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has made the audio recording of the session publicly available on its official website.

Conference Call Overview

The conference call was held to brief participants on the operational and financial performance of the company for the quarter and financial year ended March 31, 2026. The session was led by senior management and facilitated by ICICI Securities for the investment community.

Management Representation

The conference call was represented by senior management officials who addressed questions and provided detailed insights into the company's performance.

Audio Recording Access

The audio recording of the conference call is now available on Sobha's official website. Stakeholders and interested parties can access the recording at the following link:

Recording URL: https://www.sobha.com/wp-content/uploads/2026/05/Sobha-Concall_Audio-Q4-FY26.mp3

Regulatory Compliance

The disclosure was made by Company Secretary & Compliance Officer Bijan Kumar Dash on May 5, 2026, in continuation of the earlier letter dated April 30, 2026. The filing is in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sobha delivered a strong performance in Q4 and the full financial year FY26, with consolidated net profit more than doubling on both a quarterly and annual basis. The company's audited financial results for the quarter and year ended March 31, 2026, were reviewed and approved by the Board of Directors on May 04, 2026. Q4 net profit rose to ₹918 Mn from ₹408.6 Mn in Q4 of the previous year, while full-year PAT surged 104% to ₹1.93 Bn from ₹0.95 Bn in FY25. Q4 revenue stood at ₹19.88 Bn compared to ₹12.4 Bn in Q4 of the previous year, with Q4 EBITDA at ₹1.5 Bn versus ₹940.6 Mn YoY and an EBITDA margin of 7.66% against 7.58% in the prior-year quarter. Total revenue for FY26 stood at ₹53.84 Bn, up from ₹41.63 Bn in FY25, driven by robust real estate sales and steady contractual and manufacturing contributions. The board has also recommended a dividend of ₹6 per share for FY2026, signalling continued commitment to shareholder returns.

Key Financial Performance

The following table presents the consolidated Profit & Loss highlights across quarterly and annual periods:

FY26 EBITDA improved to ₹5.03 Bn from ₹4.18 Bn in FY25, while PBT margin expanded to 4.8% from 3.2% year-on-year. The significant improvement in PAT margin from 2.3% in FY25 to 3.6% in FY26 reflects enhanced operational leverage and disciplined cost management across the business.

Real Estate Sales and Operations

Sobha achieved record real estate sales of ₹81.36 Bn in FY26, with a saleable area of 5.54 Mn sft across its operating markets. In Q4 alone, sales value reached ₹20.39 Bn, with a total saleable area of 1,335,691 sft. The company's Sobha share of sales stood at ₹67.06 Bn for FY26, representing 82.4% of total sales, with a blended realisation of ₹14,675 per sft for the full year. The following table presents the region-wise sales breakdown:

On the completions front, Sobha delivered 5.40 Mn sft comprising 3,188 homes across 39 towers, 58 row houses and villas in FY26. In Q4 alone, completions totalled 1,757,199 sft across 1,087 units. The company also launched 6.04 Mn sft across 9 projects in 6 cities during FY26, and expanded its operating footprint to 13 real estate cities across 8 states, including new entries in Greater Noida and Mumbai.

Cashflow and Balance Sheet

Sobha reported total operational cash inflow of ₹77.98 Bn for FY26, with net operational cashflow of ₹16.37 Bn, up from ₹11.74 Bn in FY25. Net cashflow for the year stood at ₹1.69 Bn. The company's balance sheet strengthened considerably, with gross debt declining to ₹10.02 Bn as of March 31, 2026, against a cash balance of ₹18.02 Bn, resulting in a net-debt negative position. The average interest cost stood at 7.69%. The following table summarises the consolidated cashflow highlights:

The consolidated balance sheet as on March 31, 2026 reflected total assets of ₹195,178 Mn, compared to ₹172,210 Mn as on March 31, 2025. Total equity stood at ₹47,199 Mn, while inventories were at ₹128,263 Mn. Sobha's credit rating outlook was upgraded to AA- Positive by Ind-RA, with ICRA maintaining its rating at AA- Stable.

Value Creation Pipeline and Land Bank

Sobha's investor presentation outlined a robust pipeline for future growth. FY27 inventory stands at 10.53 Mn sft with a sales value of ₹170.30 Bn and revenue to be recognised of ₹186.47 Bn, with a projected EBITDA margin of 30%+ at the project level. Forthcoming projects span 20.67 Mn sft with a potential sales value of ₹271.65 Bn. The total inventory visibility across completed, ongoing, and forthcoming projects amounts to 31.20 Mn sft with a combined sales value of ₹441.95 Bn.

The company's developable land bank totals 409 acres across 8 cities, with a development potential of 40.91 Mn sft and Sobha's share at 84.1%. Total future marginal cashflow from completed and ongoing projects is estimated at ₹95.60 Bn, with an additional ₹86.99 Bn from forthcoming projects.

Dividend Recommendation

The board has recommended a dividend of ₹6 per share for FY2026, accompanying the strong full-year results and representing a direct return to shareholders.