DLF Q3 revenues seen up at Rs 2,640 cr

By Priyanka Ghosh, Research Analyst at CNBC-TV18

Real estate firm DLF is expected to report a net profit of Rs 511 crore in the third quarter of FY12, a massive growth of 37.4% as compared to Rs 372 crore in the previous quarter.

Revenues are seen going up to Rs 2,640 crore versus Rs 2,532 crore quarter-on-quarter. EBIDTA too is likely to go up at Rs 1,240 crore from Rs 1,178 crore QoQ.

On year-on-year basis, profit is expected to improve by 9.66% and revenues by 6.5%. EBITDA too is expected to go up by 5.7%.

Key Monitorables

- Asset sales monetization to be main focus

- Revenue projection includes Pune and Noida Asset Sales

- DLF sold assets in Pune for Rs 810 crore. With 67% stake, company to clock in Rs 550 crore

- DLF sold assets in Noida for Rs 450 crore

- This quarter factored in Rs 750 crore of sale proceeds

- Operational sales expected @ 2-2.5 million square feet during the quarter

- DLF had outlined 10-12 million square feet sales target during the year

- DLF had outlined Rs 3000 crore asset sale during the quarter

- Sell of Aman Resorts is key to achieving asset sales target this year

- Expected valuation from Aman resort sale is Rs 1500 crore

- Target net debt position (as on March 31) is Rs 19500 crore

- Debt @ the end of last quarter is Rs 22519 crore