Sobha Limited · NSE:SOBHA
Sobha — Q2 FY2026 Earnings Presentation
33 slides from Sobha's earnings presentation, Oct 17, 2025
Slide 1: Exchange filing cover letter
Date: October 17, 2025 BSE Limited The National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Plot No C/1, G Block PJ Towers, Dalal Street Bandra Kurla Complex Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 532784 & 890205 Scrip Code: SOBHA & SOBHAPP Dear Sir/Madam(
Slide 2: Investor Presentation Q2 FY 2026
Investor Presentation Q2 FY 2026
Slide 3: From Strength to Scale — SOBHA at 30
From Strength to Scale — SOBHA at 30 • Unique backward integrated model powering in-house concept-to-completion delivery • Execution track record of 550+ precision-built residential and commercial projects • Strengthened balance sheet with net-debt negative position achieved in FY 25 • Diversified p
Slide 4: H1 FY26 Highlights
H1 FY26 Highlights Strong performance underpinned by operational excellence Highlights Sales & Operations Cashflow & Financials Project Updates
Slide 5: Performance Highlights | H1 FY26
Performance Highlights | H1 FY26 Disciplined growth backed by strong sales, record cashflow generation and net cash balance sheet RE SALES CASHFLOW P&L DEBT (30.09.2025) ₹39.81 Bn ₹38.24 Bn ₹23.71 Bn ₹10.10 Bn Sales Value Total Operational Cash Inflow Total Revenue Gross Debt c Saleable Area: Net Op
Slide 6: Awards and recognition in Q2 FY 2026
Awards and recognition in Q2 FY 2026 c Harit Bharat Forbes India Construction World Construction World Leadership Summit Developers Award 23rd Global Award CWAB Award, 2025 & Awards Mr. Ravi Menon was featured in SOBHA City Gurgaon awarded Felicitated as one of India’s Top SOBHA Aranya was recognize
Slide 7: Sales & Operations
Sales & Operations Accelerating growth through focused diversification backed by strong brand equity Highlights Sales & Operations Cashflow & Financials Project Updates
Slide 8: Sales Performance | Q2 & H1 FY26
Sales Performance | Q2 & H1 FY26 New Sales Area (Mn Sft) Total Sales Value (₹ Bn) Key Highlights 39.81 ▪ Achieved highest ever H1 sales value of ₹39,814 mn, 2.84 30% 35% 30.52 2.11 and SOBHA share of ₹32,542 mn (81.7%), supported by new operating city and steady sustenance sales ▪ Bangalore and NCR
Slide 9: Region wise sales performance | Q2 & H1 FY26
Region wise sales performance | Q2 & H1 FY26 New Sales Area ( sft) Q2 FY26 (₹ Bn) H1 FY26 (₹ Bn) Region Q2 FY26 H1 FY26 13.26 19.29 Bangalore Bangalore Bangalore 982,973 1,446,869 10.71 15.49 NCR* 169,667 881,643 3.10 14.96 NCR* NCR* Kerala* 163,979 332,850 2.44 12.89 Tamil Nadu* 31,357 114,474 c 1.
Slide 10: Sales Value by Price bands | Q2 & H1 FY26
Sales Value by Price bands | Q2 & H1 FY26 H1-26 vs H1-25 Sales value by Price bands (₹ Bn) 5 Year trend in Price bands contribution 16.58 H1 FY25 H1 FY26 11% 8% 14% 25% 28% 29% 21% 20% 10.69 19% 10.21 9.66 11% 16% 7.43 30% 5.82 42% 5.60 4.36 68% 72% 64% 39% 42% 26% c 16% < ₹2 Cr. ₹2 - ₹3 Cr. ₹3 - ₹5
Slide 11: Real Estate project completion | Q2 & H1 FY26
Real Estate project completion | Q2 & H1 FY26 Completed Project (Q2 FY 26) Tower / Wing No. of units SBA (sft) Key Highlights (H1 FY26) Bangalore 360 621,122 ▪ In H1 FY26 we completed 1,185 Sobha Manhattan Towers Wing 5 142 230,767 homes spanning 2.25 mn sft of Sobha Royal Pavilion Wing 12 76 126,31
Slide 12: RE development portfolio as on 30 September 2025
RE development portfolio as on 30 September 2025 Mn sft Completed Ongoing Forthcoming Note: Region Developed Developable ▪ Real Estate product mix includes Multi SBA SBA SBA Area Area Storied Apartments, Row Houses, Villas, Plotted Developments & Club House Bangalore* 67.07 48.69 21.28 15.65 7.88 Fa
Slide 13: Projected Marginal Cashflow from visible Inventory
Projected Marginal Cashflow from visible Inventory Completed Ongoing – Ongoing – • Future receivables from sold units Particulars Unit Total Projects Released Unreleased along with unsold stock is more than Total Saleable area Mn sft 16.31 24.87 2.93 44.11 adequate cover the cost to complete all ong
Slide 14: Inventory visibility - Ongoing & Forthcoming RE projects
Inventory visibility - Ongoing & Forthcoming RE projects SBA (Mn sft), Sales value (₹ Bn) Inventory visibility – Real Estate Forthcoming projects - Residential and Commercial Sales City / Region No. of Projects SBA Inventory status SBA Value Bangalore 5 7.88 Completed projects 0.37 3.31 Greater Noid
Slide 15: Developable Land Bank to support sustained growth
Developable Land Bank to support sustained growth Forthcoming Subsequent 403 Acres of Developable Land Bank (Acres, %) City / Region* Total Projects Land Projects Land Bangalore 74 131 205 Gurgaon, Greater Noida, Gurgaon 20 44 64 64, 16% 12, 3% Greater Noida 12 - 12 Kerala, Kerala 11 - 11 11, 3% Tam
Slide 16: Cashflow & Financials
Cashflow & Financials Record inflows and net cash surplus reinforces our solid financial strength Highlights Sales & Operations Cashflow & Financials Project Updates
Slide 17: Historic Cashflow performance | Q2 & H1 FY26
Historic Cashflow performance | Q2 & H1 FY26 ₹ Bn Total Operational Cash Inflow Real Estate Cash Inflow Key Highlights 38.24 ▪ Achieved highest ever operational cashflows, supported by 31% 34.44 29.21 32% 26.14 highest real estate collections in Q2 and H1-FY26 ▪ Real estate collection was ₹34,445 in
Slide 18: Healthy and consistent cashflow growth over the quarters
Healthy and consistent cashflow growth over the quarters Total Operational Cash Inflow (₹ Bn) Real Estate Cash Inflow (₹ Bn) 20.46 17.85 17.78 18.46 15.46 15.83 15.99 13.75 14.78 13.92 12.23 13.21 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 c Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Real Estate Construction Outf
Slide 19: Consolidated Cashflow Statement | Q2 & H1 FY26
Consolidated Cashflow Statement | Q2 & H1 FY26 ₹ Mn Particulars Q2-26 Q1-26 Q2-25 H1-26 H1-25 FY-25 Operational Cash Inflow Real Estate Operations 18,459 15,986 12,227 34,445 26,144 55,184 Contractual & Manufacturing 1,999 1,799 1,524 3,798 3,068 6,657 Total Operational Cash Inflow (A) 20,458 17,784
Slide 20: Cashflow Statement | Q2 & H1 FY26 (continued)
Cashflow Statement | Q2 & H1 FY26 (continued) ₹ Mn Particulars Q2-26 Q1-26 Q2-25 H1-26 H1-25 FY-25 Financial Inflow Rights Issue Proceeds (D) - 6 9,995 6 9,995 19,961 Financial Outflow Finance Related Outflow 235 201 352 436 830 1,469 Dividend 321 - 301 321 301 301 Total Financial Outflow (E) 557 20
Slide 21: Negative Net Debt with low borrowing cost
Negative Net Debt with low borrowing cost Net debt and D/E ratio Finance Related Outflows (₹ Bn) 1.25 0.97 1.40 2,850 38 2,783 1.20 28.52 0.66 34 0.50 1.00 30 0.80 23.37 0.60 2,056 1,951 26 0.40 16.40 (0.14) (0.16) 22 0.20 18 12.62 - (0 .20) 1,469 14 (0 .40) 10 (0 .60) 434 (0 .80) (6.30) (7.51) 6 (1
Slide 22: Profit & Loss | H1 FY26
Profit & Loss | H1 FY26 ₹ Bn Key Highlights Total Income Real Estate Revenue ▪ Total revenue recorded in H1 FY26 was ₹23.71 bn, improved 23.71 18.89 by 44.9% compared to same period last year 45% 50% 16.35 12.56 o Real estate business contributed ₹18.89 bn, grew by 50.3% compared to H1 FY25 c o Cont
Slide 23: Profit & Loss Statement | Q2 & H1 FY26
Profit & Loss Statement | Q2 & H1 FY26 ₹ Mn Particulars Q2-26 Q1-26 Q2-25 H1-26 H1-25 FY-25 Real Estate Revenue 11,990 6,897 7,814 18,887 12,564 33,782 Contractual & Manufacturing Revenue 2,086 1,623 1,522 3,709 3,176 6,605 Other Income 617 495 317 1,112 612 1,241 Total Income 14,693 9,014 9,653 23,
Slide 24: Contracts & Manufacturing – Revenue & Operations
Contracts & Manufacturing – Revenue & Operations ₹ Bn Ongoing Contractual projects (Civil) Particulars H1-26 H1-25 Projects SBA (Mn sft) Location Revenue 3.71 3.17 Total 3.37 Contracts 1.76 1.64 Karle SEZ Projects 2.85 Bangalore Manufacturing & Retail 1.95 1.53 Jana Seva Trust Param 0.52 Bangalore G
Slide 25: Commercial Portfolio
Commercial Portfolio sft SOBHA City Mall, Thrissur Total Sobha Share Project Name Status Leasable Area Leasable area SOBHA City Mall, Thrissur Operational 323,017 280,789 1 SOBHA, Bangalore Operational 229,193 155,270 552,210 436,059 SOBHA City, Bangalore Ongoing 28,863 28,863 28,863 c 28,863 SOBHA
Slide 26: Consolidated Balance Sheet as on 30 September 2025
Consolidated Balance Sheet as on 30 September 2025 ₹ Mn Assets 30-Sep-25 30-Jun-25 Equity & Liability 30-Sep-25 30-Jun-25 Non-current Assets 27,304 25,729 Non-current Liabilities 7,927 8,739 Fixed Assets 5,983 5,726 Investment Property 4,517 4,514 c Financial Assets 16,805 15,488 Current Assets 159,
Slide 27: Project Updates
Project Updates Completed & Ongoing projects Highlights Sales & Operations Cashflow & Financials Project Updates
Slide 28: Project Completions – Q2 FY26
Project Completions – Q2 FY26 c SOBHA Sentosa SOBHA Victoria Park SOBHA Manhattan Towers SOBHA Royal Pavillion Bangalore Bangalore Bangalore Bangalore 1 wing – 2B+ G+ 17 floors 1 wing - 2B+ G+ 9 floors 1 wing - B+ G+ 2S+ 36 floors 1 wing – 2B+ G+ 18 floors SBA – 117,734 sft (71 homes) SBA – 107,954
Slide 29: Project Completions – Q2 FY26 (continued)
Project Completions – Q2 FY26 (continued) c SOBHA Victoria Park SOBHA Nesara Marina One SOBHA Arbor Bangalore Pune Kochi Chennai Rowhouses 1 wing – B+ G+ 3S+ 23 floors 1 wing – 2S+ 27 floors 1 tower - S + 5 floors SBA – 23,889 sft (9 homes) SBA – 139,544 sft (92 homes) SBA – 366,566 sft (112 homes)
Slide 30: Ongoing Projects
Ongoing Projects c SOBHA Neopolis SOBHA Oakshire Sterling Infinia SOBHA Windsor Bangalore Bangalore Bangalore Bangalore 19 wings - G+ 18 floors Rowhouse 2 blocks – 2B+ G+ 12/13 floors 2 wings - 2B+ G+ 17 floors SBA – 3,440,634 sft (1,875 homes) SBA – 275,486 sft (80 homes) SBA – 228,259 sft (78 home
Slide 31: Ongoing Projects (continued)
Ongoing Projects (continued) c SOBHA Meadows Whispering SOBHA Avlon SOBHA City SOBHA Waterfront Hills Trivandrum GIFT City Gurgaon Hyderabad 2 blocks - G+ 12 floors 2 towers - G+ 27 floors 7 towers – B+ S+ 18/ 24 floors 4 towers - G+ 14 floors SBA – 200,657 sft (98 homes) SBA – 320,667 sft (268 home
Slide 32: Board of Directors
Board of Directors Srivathsala K Nandagopal, Independent Director Ravi PNC Menon, Chairman Serial entrepreneur, Founder of 4 companies with 23+ years of experience in the real estate and businesses spanning Angel Investing, Financial planning construction business for HNIs and Strategic Business adv
Slide 33: THANK YOU
SOBHA Corporate Office ‘SOBHA’, Sarjapur-Marathahalli Outer Ring Road (ORR), Devarabisanahalli, Bellandur Post, Bangalore-560103 Phone: +91-80- 49320000 www.sobha.com Investor’s Contact c THANK YOU Soumyadeep Saha Investor Relations Tel: +91-80-49320000 Ext. 5024 Email: soumyadeep.s@sobha.com Discla