Real Estate sector results preview for Q4FY12: Emkay
Emkay Global Financial Services has come with its March quarterly earning estimates for Real Estate sector. According to the research firm, sales booking of most of the companies under coverage are expected to be subdued to marginally above than the previous quarter.
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Real Estate sector results preview for Q4FY12: Emkay
Emkay Global Financial Services has come with its March quarterly earning estimates for Real Estate sector. According to the research firm, sales booking of most of the companies under coverage are expected to be subdued to marginally above than the previous quarter.
Like this story, share it with millions of investors on M3
Real Estate sector results preview for Q4FY12: Emkay
Emkay Global Financial Services has come with its March quarterly earning estimates for Real Estate sector. According to the research firm, sales booking of most of the companies under coverage are expected to be subdued to marginally above than the previous quarter.
Emkay Global Financial Services has come with its March quarterly earning estimates for Real Estate sector. According to the research firm, sales booking of most of the companies under coverage are expected to be subdued to marginally above than the previous quarter.
The Real Estate Q4FY12 results (Emkay Universe) are expected to be marginally up QoQ due to better execution, steady sales bookings and crossing of threshold level in some large projects for some companies. DLF’s YoY financials are not comparable as there was one-off increase in costs booking in Q4FY11due to inflationary increase in the Cost of Sales budgeted.
Sales booking of most of the companies under coverage are expected to be subdued to marginally above than the previous quarter. DLF launched two new projects in Gurgaon with total saleable area (SBA) of ~1.5msf are fully booked. Sobha Developers and Prestige Estate would continue to post strong sales bookings due to high housing demand in the Bangalore market. Oberoi Realty’s sales booking would be subdued owing to low demand traction in Mumbai market.
The debt of Sobha Developers and DLF are expected to come down QoQ due to higher operating cashflows for former and lower capex for latter. Debt of Prestige Estates is expected to increase marginally due to on-going capex towards commercial properties.
We expect rating upgrade in Sobha Developers post results while don’t foresee any change in ratings of other companies under coverage.
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