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    HomeNewsBusinessEarningsSobha Developers Q3 net profit seen down at Rs 45 cr

    Sobha Developers Q3 net profit seen down at Rs 45 cr

    Sobha Developers is going to announce its results for the quarter ended December 2010. According to CNBC-TV18 estimates, its net profit is expected to go down at Rs 45 crore in Q3FY11 as against Rs 58.9 crore in previous quarter.

    January 21, 2011 / 10:14 IST
       
       
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      Sobha Developers is going to announce its results for the quarter ended December 2010. According to CNBC-TV18 estimates, its net profit is expected to go down at Rs 45 crore in Q3FY11 as against Rs 58.9 crore in previous quarter.


      Revenues are seen going up at Rs 358.1 crore from Rs 425.7 crore. Earning before interest, depreciation, tax and amortisation (EBIDTA) is also likely to go down at Rs 79.95 crore from Rs 92 crore (QoQ).

      Expectations
      * Reported revenues to decline QoQ since as revenue recognition from sale of land not expected
      * Excluding land sale revenues expected to see 18% increase QoQ
      * Recently launched projects such as Dewflower and Classic to drive revenue growth
      * Average realisations trending up due to favourable product mix as most new launches in luxury/super luxury segment
      * Several projects including Althea, Chrysanthemum and Ruby completed during the quarter
      * Any asset monetization could provide upside to estimates

      first published: Jan 21, 2011 10:13 am

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