New Delhi, July 21 -- Shares of Sobha gave up most of their early gains on Tuesday despite the real estate developer reporting a strong financial and operational performance for the quarter ended June 2026 (Q1 FY27).

The stock surged more than 7% in early trade to an intraday high of Rs.1,559.15 after the Q1 results announcement. However, it later reversed course, falling over 6% from the day's high to an intraday low of Rs.1,460.50. At the time of writing, the stock was trading less than 0.5% higher than its previous closing price.

Sobha reported a 292% jump in consolidated net profit to Rs.51 crore for Q1 FY27, compared with Rs.44 crore in the corresponding quarter last year. Revenue from operations increased 50% year-on-year to Rs.1,...