By BullScreen Editorial Team 
Real estate major Sobha Limited reported a strong set of Q4 results 2026, supported by record annual sales, higher revenue realization, and improved profitability across its core real estate business. The company also strengthened its balance sheet during FY26, ending the year with a negative net debt position and higher cash reserves.
Sobha’s total revenue for FY26 rose 29.3% year-on-year to ₹53.84 billion compared to ₹41.63 billion in FY25. Real estate revenue contributed ₹44.20 billion, marking a 30.8% increase, while contractual and manufacturing operations added ₹7.71 billion to the overall revenue mix.
The company’s profitability improved sharply during the year. Profit before tax surged 95.4% to ₹2.60 billion, mainly due to lower finance costs and better operating performance. Profit after tax stood at ₹1.93 billion, while EBITDA reached ₹5.03 billion with a margin of 9.3%.
One of the key highlights of the Q4 results 2026 announcement was Sobha’s balance sheet strength. Gross debt reduced to ₹10.02 billion as of March 31, 2026, while the company reported a negative net debt position of ₹8 billion. Cash reserves increased to ₹18.02 billion, and the average borrowing cost declined to 7.69%.
Operationally, the company achieved its highest-ever annual sales booking. Real estate sales value climbed 30% to ₹81.36 billion during FY26, with Sobha’s share standing at ₹67.06 billion. The company sold 5.54 million square feet during the year, while average realization improved to ₹14,675 per square foot. In Q4 FY26 alone, realization increased further to ₹15,268 per square foot.
Bengaluru remained the company’s largest market, contributing 55% of annual sales value at ₹44.78 billion. The NCR region, including Gurgaon and Greater Noida, accounted for 30%, while Kerala contributed 10%.
Sobha also maintained a strong future growth pipeline. The company said ₹186.47 billion worth of revenue remains to be recognized from already sold projects. Its total inventory visibility stands at 31.20 million square feet with an estimated sales value of ₹441.95 billion.
The company plans to launch 14 new projects over the next six to eight quarters and continues to expand its land bank across major Indian cities. Credit rating agency upgrades, including an AA- Positive rating from Ind-RA, further strengthened investor confidence following the Q4 results 2026 update.
| Metric | FY26 | FY25 | Growth |
|---|---|---|---|
| Total Revenue | ₹53.84 Billion | ₹41.63 Billion | +29.3% |
| Real Estate Revenue | ₹44.20 Billion | ₹33.79 Billion | +30.8% |
| EBITDA | ₹5.03 Billion | — | Margin: 9.3% |
| Profit Before Tax (PBT) | ₹2.60 Billion | ₹1.33 Billion | +95.4% |
| Profit After Tax (PAT) | ₹1.93 Billion | — | Margin: 3.6% |
| Average Interest Cost | 7.69% | — | Lower YoY |
| Segment | FY26 Performance |
|---|---|
| Record Sales Value | ₹81.36 Billion |
| Sobha Share in Sales | ₹67.06 Billion |
| Saleable Area Sold | 5.54 Million Sq Ft |
| Average Realization FY26 | ₹14,675 per Sq Ft |
| Q4 FY26 Realization | ₹15,268 per Sq Ft |
| Homes Delivered | 3,188 Units |
| Total Project Delivery | 5.40 Million Sq Ft |
| Upcoming Projects | 14 Projects |
| Future Launch Pipeline | 20.67 Million Sq Ft |
| Indicator | Details |
|---|---|
| Gross Debt | ₹10.02 Billion |
| Net Debt Position | -₹8.00 Billion |
| Cash Balance | ₹18.02 Billion |
| Revenue Yet to be Recognized | ₹186.47 Billion |
| Total Inventory Visibility | 31.20 Million Sq Ft |
| Estimated Inventory Sales Value | ₹441.95 Billion |
| Land Bank Potential | 40.91 Million Sq Ft |
| Land Bank Area | 409 Acres Across 8 Cities |
| Credit Rating | AA- Positive by Ind-RA |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/a9d43286-f06a-4591-a60c-c6ea682ae903.pdf