Mumbai-based realty company Godrej Properties will announce its fourth quarter earnings on Thursday. Profit is expected to jump 22 percent year-on-year to Rs 50 crore, according to the average of estimates of analysts polled by CNBC-TV18.
Revenue is seen rising 31 percent to Rs 470 crore during January-March quarter from Rs 357.5 crore in the year-ago period.
Operating profit (EBITDA) may climb 72 percent year-on-year to Rs 80.3 crore and margin may expand by 503 basis points to 17.08 percent in the quarter gone by.
Analysts say pre-sales may be largely flattish on sequential basis. They expect some revenue recognition from the Chembur Project – Godrej Central.
It launched Godrej Infinity Township in Pune in March. Pre-sales of this project is expected at around Rs 300 crore.
In Q4, Godrej properties made two major acquisitions in Kolkata (3 million square feet, 46 percent JV) and Whitefield, Bangalore (0.85 million square feet), which created a strong pipeline for FY16.
More importantly, apart from earnings, the board will also consider the consolidation of Godrej Industries interest in Godrej Vikhroli Properties. So main thing to watch out for is the valuation of consolidation of Godrej Industries stake in Vikhroli property.
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