SOBHA Q3FY26: EBITDA Falls 42.3% to ₹388M as Revenue Drops 22.8% Despite Strong Nine-Month Growth
SOBHA Limited reported mixed Q3FY26 results with significant EBITDA decline of 42.3% to ₹388 million and margin compression to 4.11% from 5.50% year-on-year. While quarterly consolidated revenue fell 22.8% to ₹9.43 billion, the company demonstrated strong nine-month performance with revenue growth of 21.1% and net profit surge of 190%.

*this image is generated using AI for illustrative purposes only.
SOBHA Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, presenting a mixed performance with quarterly revenue declining and EBITDA compression while demonstrating strong nine-month growth. The Bengaluru-based real estate developer's Board of Directors approved the results at their meeting held on January 16, 2026.
Quarterly Financial Performance
The company's Q3FY26 performance showed revenue contraction across both standalone and consolidated results with significant EBITDA decline despite improved standalone profitability. Key quarterly metrics demonstrate margin pressure amid challenging market conditions.
EBITDA Performance:
| Metric | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| EBITDA | ₹388.00 million | ₹673.00 million | -42.3% |
| EBITDA Margin | 4.11% | 5.50% | -139 bps |
Standalone Results:
| Metric | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| Revenue from Operations | ₹9,801.10 million | ₹12,467.95 million | -21.4% |
| Total Income | ₹10,285.72 million | ₹12,826.92 million | -19.8% |
| Net Profit | ₹306.85 million | ₹275.45 million | +11.4% |
| Basic EPS | ₹2.87 | ₹2.73 | +5.1% |
Consolidated Results:
| Metric | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| Revenue | ₹9.43 billion | ₹12.20 billion | -22.8% |
| Net Profit | ₹154.00 million | ₹217.00 million | -29.0% |
Nine-Month Performance Shows Strong Growth
The nine-month results for FY26 revealed significant improvement across key financial parameters, indicating strong underlying business momentum despite quarterly variations.
| Parameter | 9M FY26 | 9M FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations | ₹33,829.51 million | ₹27,921.99 million | +21.1% |
| Total Income | ₹35,552.87 million | ₹28,952.66 million | +22.8% |
| Net Profit | ₹1,802.93 million | ₹621.83 million | +190.0% |
| Basic EPS | ₹16.86 | ₹6.28 | +168.5% |
Segment-wise Business Performance
SOBHA operates through two primary business segments: Real Estate and Contractual & Manufacturing. The segment analysis reveals the contribution of each division to overall performance.
Real Estate Segment:
| Parameter | Performance |
|---|---|
| Q3FY26 Revenue | ₹7,384.92 million vs ₹10,609.62 million (Q3FY25) |
| Nine-month Revenue | ₹26,870.57 million vs ₹22,663.09 million (9M FY25) |
| Nine-month Profit | ₹2,998.81 million |
Contractual and Manufacturing Segment:
| Parameter | Performance |
|---|---|
| Q3FY26 Revenue | ₹3,040.16 million vs ₹2,390.43 million (+27.2%) |
| Nine-month Revenue | ₹8,796.84 million vs ₹6,478.50 million (+35.8%) |
| Nine-month Profit | ₹786.87 million |
Financial Position and Regulatory Matters
The company maintained a stable capital structure with paid-up equity share capital of ₹1,069.40 million as of December 31, 2025. Total assets stood at ₹1,85,190.95 million compared to ₹1,56,739.50 million in the previous year, representing an 18.1% increase.
SOBHA disclosed several ongoing regulatory proceedings in its financial results. The company faces provisional attachment of land parcels valued at ₹2,016.05 million under the Prevention of Money Laundering Act, 2002, related to a joint development arrangement in Gurugram, Haryana. Additionally, the Income Tax Department has raised aggregate demands of ₹672.00 million for assessment years from AY 2015-16 to AY 2023-24, against which the company has filed appeals.
Historical Stock Returns for Sobha
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.43% | -0.12% | +5.36% | -1.14% | +17.67% | +223.47% |
















































