India Ratings Revises Sobha’s Outlook to Positive, Affirms ‘AA-’ Rating

Sobha Ltd. said India Ratings and Research has revised its long-term outlook to positive from stable while affirming ratings at ‘AA-’, according to a filing on Monday.

The revision reflects the strong performance of Sobha’s residential real estate business in 2024-25, which the agency expects to continue in 2025-26. Sobha has delivered robust sales, collections and operating cash flows, with the company estimated to be net cash positive in April-June. India Ratings expects this trend to sustain over 2025-26-2026-27.

The agency said Sobha’s credit profile remains supported by its strong brand recall and marketability across multiple geographies and micro markets.