Real estate major DLF's first quarter net profit is seen rising 38.6 percent year-on-year to Rs 177 crore on robust revenue growth, according to average of estimates of analysts polled by CNBC-TV18.
Revenue in June quarter is likely to increase 18.6 percent to Rs 2,047 crore compared to Rs 1,725 crore in the year-ago period, led by Phase-V luxury project Camelia and Crest. However, other markets are expected to be weak in sales.
Pre-sales are expected to be sluggish at 0.3 million square feet during the quarter against 0.4 million square feet in same quarter last year and 0.9 million square feet in March quarter.
Operating profit (earnings before interest, tax, depreciation and amortisation) may climb 6 percent year-on-year to Rs 781 crore but margin may decline 450 basis points to 38.2 percent in the quarter ended June.
Analysts said income from divestment of DT Cinemas to PVR for Rs 500 crore may be seen in October-March period of FY16. It was in line with the company’s strategy to divest non-core businesses. DT Cinema was a small non-core business for DLF (around 1.5 percent of FY14 revenue) and operates 29 screens in NCR and Chandigarh which will be rebranded as PVR.
At the end of March quarter, debt increased by Rs 600 crore sequentially to Rs 20,970 crore on capex spends and weak operations.
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