Investec, an international brokerage, has given Sobha Ltd., a prominent real estate firm based in Bengaluru, a 'buy' rating and set a price target of Rs 2,150 per share. This target indicates a potential increase of 42% from the last closing price of Rs 1,516.95.

Sobha's stock has experienced a significant surge of around 79% over the past year, reflecting strong market performance. Investec views Sobha as an attractive investment opportunity, particularly as a late recovery play in the real estate cycle. The brokerage highlights Sobha's consistent generation of healthy operating cash flow and successful reduction of balance sheet leverage.

Sobha also has plans to strategically expand into the Mumbai and Noida markets, with the aim of establishing a strong long-term presence in these regions within the next 2 to 3 years.