Sobha's Q2 revenue falls to ₹970 crore from ₹1,400 crore; first-half bookings a record

What happened

• Sobha reported revenue of ₹970 crore for the September 2026 quarter against ₹1,400 crore a year earlier, according to Sahi, which published at 6:08 PM on Monday. Sahi said the decline reflects the timing of revenue recognition across ongoing projects.
• ScanX, which reports in rupee millions (converted to crore here), gave consolidated net profit as ₹33 crore against ₹72.5 crore, a fall of 54.5%, and EBITDA as ₹68.6 crore against ₹95.6 crore.
• ScanX put first-half sales bookings at a record ₹5,862 crore, up 47.2% from ₹3,981 crore, covering 3.76 million square feet across 2,260 units. The average realisation was ₹15,604 a square foot against ₹14,028. Sahi's summary of bookings differs, so only ScanX's figures are used for sales.
• Operating cash inflows for the half were ₹4,009 crore, up 4.8%, and net operating cash flow was ₹755 crore, down 19.1%, per ScanX.
• The shares closed at ₹1,178 on Kite data, down 0.88% from ₹1,188.40.

Why it matters

Good to know: Real estate developers usually recognise revenue as construction reaches set stages, not when a flat is booked. That is why record bookings and falling revenue can appear in the same quarter.

Key facts

Revenue

₹970 crore (₹1,400 crore a year earlier)

Consolidated net profit

₹33 crore (₹72.5 crore), down 54.5%, per ScanX

First-half sales bookings

₹5,862 crore, up 47.2%, per ScanX

Average realisation, first half

₹15,604 a sq ft (₹14,028)

Read the source

• Sobha Reports Q2 Revenue of ₹970 Crore vs ₹1,400 Crore YoYSahi
• Sobha Ltd Q2FY27 results and analyst callScanX