DLF Q3 profit after tax seen up at Rs 462 cr
Realty firm DLF is set to announce its results for the quarter ended December 2010. According to CNBC-TV18 estimates, its profit after tax is expected to go up at Rs 462 crore as against Rs 418 crore on quarter-on-quarter basis while down from Rs 468 crore on year-on-year basis.
January 31, 2011 / 10:03 IST
Realty firm DLF is set to announce its results for the quarter ended December 2010. According to CNBC-TV18 estimates, its profit after tax is expected to go up at Rs 462 crore as against Rs 418 crore on quarter-on-quarter basis while down from Rs 468 crore on year-on-year basis.
Revenues are seen going up to Rs 2,477 crore in December quarter from Rs 2370 crore in previous quarter and Rs 2026 crore in December quarter of 2009.Earning before interest, tax, depreciation and amortisation (EBITDA) is likely to be at Rs 1,075 crore. EBIDTA Margin is seen improving at 47.5% versus 38.2% (YoY).In third quarter-Company sold 1 million Sq Ft plotted developments @ Rs 55000-60000 Per Sq Yard
-Expect residential sales of 2 million sq ft
-Sales expected to remain flat on a QoQ basis
-Flattish QoQ volumes is indicative of stress in the sector as traditionally
-Q3 is the strongest QTR
-DLF could fall short of its target of selling 12 MSF during the year
-In the H1FY11 DLF sold 4 MSF
-In Q3FY11 DLF launched about 1.8 MSF
-To meet FY11 target DLF needs to double sales
-Margins to improve because of high margin plotted sales
-During Q2FY11 EBIDTA margins (Q-o-Q) from declined from 51% to 42%
-Leasing activity to remain strong during the QTR
-Company on track to meet leasing target of 3-4 MSF
-Forthcoming launches include Horizon Centre in Phase V Gurgaon and plots in Indore.
-Premium projects like Belaire and Park Place are almost complete and hence revenue from the projects will decline sharply
-While the management has guided for FY11 non-core asset sales of Rs 18 billion and achieved around Rs 7 billion in 1HFY11, expect Rs 3-4 billion of asset sales in 3QFY11 Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
