DLF Q1 PAT seen down 28% at Rs 212 cr: P Lilladher

Prabhudas Lilladher has come out with its first quarter (April-June) earnings estimates for the real estate sector sector. The brokerage house expects DLF to report a 323.7 percent growth quarter-on-quarter (fall of 27.9 percent year-on-year) in net profit at Rs 212.3 crore.

Revenues are expected to increase by 4.1 percent Q-o-Q (up 5.5 percent Y-o-Y) to Rs 2,317.5 crore, according to Prabhudas Lilladher.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 21.3 percent Q-o-Q (down 17.5 percent Y-o-Y) to Rs 880.7 crore.

EBITDA margin or operating profit margin is likely to be at 38 percent in June quarter as against 32.6 percent in March quarter and 48.6 percent in a year ago period.

Prabhudas Lilladher report on DLF

With the vacation of the stay order on the 'Crest' project by the SC, the project seems to be on track. The company sold 250 flats at a rate of Rs 18k/sq.ft at the project within a couple of days of the launch.

The quarter also witnessed a plotted launch in the New Gurgaon area as well as release of additional area for sale at Lucknow and Mullanpur. As per the management, the windmill transaction shall be completed by early July and shall accrue Rs8bn. With regards to the Aman proceeds, we still do not have any clarity.