DLF Q3 Preview: Profit May Rise 40%
In the third quarter, the company registered a record launch of Rs 7,200 crore in Gurugram, inching it closer to its guided pre-sales target of Rs 12,000–13,000 crore for the current fiscal.
DLF Ltd.'s consolidated net profit may increase 40% to Rs 721 crore for the quarter ended December, according to consensus estimates of analysts tracked by Bloomberg.
The real estate major's revenue may grow 14% to Rs 1,697 crore in comparison with Rs 1,494.8 crore over the same period last year.
DLF Q3 FY24 Preview: Bloomberg Estimates (YoY)
Revenue may increase 14% to Rs 1,697 crore.
Ebitda may rise 25% to Rs 570 crore.
Margin may improve to 35.2% vs 31.9%.
Net profit may rise 40% to Rs 721 crore.
Motilal Oswal Financial Services Ltd. expects revenue to increase 32% to Rs 20 billion, due to commencement of project deliveries in its new products portfolio. It expects DLF to report earnings before interest, taxes, depreciation and amortisation of Rs 720 crore, with a 5 percentage point increase in margin.
Since most players had less than 12 months of inventory after the second quarter, new launches improved sequentially and will gather pace in the fourth quarter, it said.
HDFC Securities Ltd. expects an 8% decline in revenue at Rs 1,374.6 crore. It estimates DLF's profit to rise 22% to Rs 629.5 crore.
In the third quarter, the company registered a record launch of Rs 7,200 crore in Gurugram, inching it closer to its guided pre-sales target of Rs 12,000–13,000 crore for the current fiscal.
Fifteen out of the 20 analysts tracking the company have a 'buy' rating on the stock, two recommend 'hold' and three suggest 'sell'.
