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Goldman bets on Sobha, expects jump in cashflows

The realtor has launched 11 million square feet of residential projects in the last six quarters

FP Archives|Dec 20, 2014, 17:01:55 IST

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Goldman Sachs has reiterated its buy rating for its conviction list company Sobha Developers saying it expected a significant jump in FY2013 operating cashflows.

The realtor has launched 11 million square feet of residential projects in the last six quarters and is in the process of launching 8 million square feet more this fiscal, it said.

These projects provide sales visibility of Rs 7800 crore, Goldman Sachs said in its note.

At 11:16 a.m., the stock was up 5.7 percent at Rs 270.60.

Reuters

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