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Sobha Developers: Chennai to augment growth
` Chennai is potentially the next kicker; Sobha has ~520 acres in main areas
of development
` Residential sales have been robust in Chennai
` Residential uptake likely to maintain run-rate driven by commercial
absorption
http://www.kotaksecurities.com/pdf/indiadaily/indiadaily20032012.pdf
Chennai to augment growth. Sobha recently extended its footprint to Chennai with
two small residential launches totaling 0.9 mn sq. ft. We believe Chennai could be the
next growth driver for Sobha. The company owns ~520 acres in Chennai close to the
main corridors of development and can potentially benefit from the robust residential
market. Residential sales grew 36% yoy in CY2011 to reach 36 mn sq. ft driven by the
commercial market and affordable prices. BUY with a TP of Rs340/share.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Sobha Developers: Chennai to augment growth
` Chennai is potentially the next kicker; Sobha has ~520 acres in main areas
of development
` Residential sales have been robust in Chennai
` Residential uptake likely to maintain run-rate driven by commercial
absorption
http://www.kotaksecurities.com/pdf/indiadaily/indiadaily20032012.pdf
Chennai to augment growth. Sobha recently extended its footprint to Chennai with
two small residential launches totaling 0.9 mn sq. ft. We believe Chennai could be the
next growth driver for Sobha. The company owns ~520 acres in Chennai close to the
main corridors of development and can potentially benefit from the robust residential
market. Residential sales grew 36% yoy in CY2011 to reach 36 mn sq. ft driven by the
commercial market and affordable prices. BUY with a TP of Rs340/share.
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