Realty major DLF's third quarter profit is seen rising 7.3 percent year-on-year to Rs 176 crore but revenue may fall 30 percent to Rs 1,988 crore due to demonetisation.
According to analysts polled by CNBC-TV18, operating profit during the quarter is expected to decline 24 percent to Rs 934.4 crore but margin may expand 390 basis points to 46.9 percent on yearly basis.
Earnings may continue to be impacted by cost overruns in legacy projects. Rental income may reduce due to demonetisation impact on residential sales.
Most important factor to watch out for is the status of DLF Cyber City stake sale and financial restructuring. Deal value is expected to be Rs 11,000-12,000 crore.
Promoters are looking to sell 40 percent stake in DLF Cyber City. Media reports indicated that promoters are not happy with bids from GIC and Blackstone and hence there is a delay in deal closure.
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