Indian homebuilder Sobha slides on saying no sales growth in FY25

** India homebuilder Sobha SOBHA falls 6.6% to end at 1,202.35 rupees, dropping for the fourth session in a row

** Sobha expects sales to be flat in FY25 vs prior view of 20% growth, it said on Friday after posting Q3 results that showed it relied on older projects for growth

** Since the results, at least 10 of 13 brokerages covering the stock have lowered their price targets, per LSEG data

** CLSA keeps "underperform", cuts PT to Street-low of 1,150 rupees saying the guidance indicates slower-than-expected new launches

** Jefferies keeps "hold", cuts PT to 1,450 rupees, saying Sobha will not meet its forecast even if launches in core market Bengaluru revives in Q4

** Motilal Oswal cuts PT to 2,058 rupees, but keeps "buy", betting on growth due to ongoing fundraising, land acquisitions

** Avg rating of analysts is "buy" and mean PT is 1850.62 rupees -LSEG data

** Sobha has lost 13.5% in 4-session losing run, while Nifty realty index CNXREALTY has fallen 6.8%