Sobha promoters confirm zero encumbrance on 52.88% stake

Sobha Limited disclosed that its promoters and promoter group, along with Persons Acting in Concert (PAC), did not create any encumbrance on their shares during the financial year ended March 31, 2026. The confirmation was provided in a regulatory filing submitted to the stock exchanges on April 06, 2026, under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The filing stated that the promoters have not made any encumbrance, directly or indirectly, other than those already disclosed during FY26. The declaration was made on behalf of the Promoter & Promoter Group by Ravi PNC Menon, an authorized signatory.

As per the capital structure details provided in the annexure, the company's paid-up capital consists of 10,69,32,977 fully paid-up equity shares and 20,857 partly paid-up equity shares of ₹10 each. The total subscribed and paid-up capital amounts to ₹106,95,38,340.

The promoters and promoter group collectively hold 5,65,58,845 shares in Sobha Limited. This represents 52.88% of the total issued and paid-up capital of the company. The disclosure confirms that the total number of encumbered shares held by the promoters or PACs is nil.

Capital Structure and Shareholding Details

Particulars	Number of Shares	Amount (₹)
Authorised Capital	15,00,00,000	1,50,00,00,000
Issued Capital	10,69,53,834	106,95,38,340
Subscribed Capital	10,69,53,834	106,95,38,340
Paid-up Capital (Fully Paid)	10,69,32,977	106,95,38,340
Paid-up Capital (Partly Paid)	20,857	1,04,285

Promoter Holding Status

Particulars	Value
Total shares held by Promoter and Promoter Group	5,65,58,845
Percentage of total issued and paid-up capital	52.88%
Total encumbered shares	Nil
Encumbered shares as % of Promoter shareholding	Nil
Encumbered shares as % of total share capital	Nil

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.65%	+3.38%	-0.88%	-7.83%	+5.07%	+207.09%

Sobha 's management has provided detailed FY27 guidance during a concall, outlining ambitious targets for new project launches, sales growth, EBITDA margins, and cash flow — reinforcing the company's strategic focus on scaling its premium residential real estate business.

Launch Pipeline and Sales Mix

Sobha plans to launch approximately 10 million square feet across Bangalore, Gurgaon, Hyderabad, Thrissur, and Pune in FY27. The company's total pipeline stands at 20.67 million square feet spread over the next six to eight quarters, reflecting a broad-based multi-city expansion strategy in the premium housing segment.

For FY27, management projects new launches to contribute 50% to 55% of sales, with the remaining 45% to 50% coming from sustenance sales. This balanced sales mix is designed to support consistent revenue generation while new projects gain traction across key urban markets.

Financial Targets and Margin Outlook

Sobha's management has set clear financial benchmarks for FY27. The company anticipates an EBITDA margin of at least 30% plus on its unrecognized real estate revenue of INR18,600 crores. Projects nearing completion in the next 12 months are expected to deliver higher margins in the range of 24% to 26%.

Management expects sales growth of approximately 30% for FY27, consistent with FY26's performance. The following table summarizes the key financial and operational guidance provided:

Parameter:	Details
New Launch Target:	~10 million sq ft (Bangalore, Gurgaon, Hyderabad, Thrissur, Pune)
Total Pipeline:	20.67 million sq ft (next 6–8 quarters)
New Launch Sales Contribution:	50%–55% of FY27 sales
Sustenance Sales Contribution:	45%–50% of FY27 sales
Expected Sales Growth:	~30% for FY27
EBITDA Margin Target:	At least 30%+ on unrecognized real estate revenue
Unrecognized Real Estate Revenue:	INR18,600 crores
Near-Completion Project Margins:	24%–26%
Net Operating Cash Flow Target:	INR2,000 crore in FY27
Land Acquisition Spend (FY27):	~INR1,100–1,200 crores

Cash Flow and Capital Allocation

On the capital allocation front, Sobha aims for net operating cash flow growth to INR2,000 crore in FY27. The company expects to spend a similar amount on land acquisition in FY27 as it did in FY26, approximately INR1,100–1,200 crores, signaling continued investment in replenishing its land bank to support future growth.