Godrej Properties Q1 profit seen down 7% but revenue may double

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Mumbai-based real estate company Godrej Properties' first quarter profit is seen falling over 7 percent year-on-year to Rs 51 crore but revenue may be doubled to Rs 482 crore from Rs 237 crore, according to average of estimates of analysts polled by CNBC-TV18.

Operating profit may increase to Rs 75 crore from Rs 55.1 crore but margin may contract sharply to 16 percent from 23.2 percent on yearly basis.

Key things to watch out for-Revenue growth may be strong led by surge in pre-sales-Pre-sales are expected to rise 42 percent QoQ to Rs 470 crore against Rs 330 crore QoQ-New launches this quarter may boost pre-sales-Pre-sales of 0.5 million square feet against 0.3 million square feet QoQ and 0.6 million square feet YoY-Realisations are expected at Rs 9,400 per square feet against Rs 9,706 per square feet QoQ-Margins may contract due to high contribution of low margin BKC project (54 percent of topline)

New launches-Vihang project in Thane-Luxury towers in Godrej Infinity in Pune-Phase 2 of project Trees in Mumbai-Phase 2 of Anandam, Garden City and Palm Grove