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DLF Ltd. will announce its results for the quarter ended September today.
According to the average of analysts’ estimates calculated by Bloomberg, DLF could report a net profit of ₹563.2 crore and a revenue of ₹1,586.3 crore in the quarter under review (July - Sept).
Yes Securities in its earnings preview mentioned that it was expecting DLF to click revenues of ₹1,766 crore, up 36 per cent YoY; while EBITDA and PAT are expected to be around ₹550 crore and ₹743 crore (up 56 per cent YoY), respectively.
“Key monitorable is launches in H2FY24 and recognition of independent floors (for DLF),” the firm said in its report.
The real estate sector, in general, remains bullish with most companies reporting strong pre-sales and many continue to see good demand.
In fact, an HDFC Securities Institutional Equities had mentioned that the aggregate revenue, EBITDA and profit after tax for the realty majors (across companies like DLF, Oberoi Realty and some of the other realty majors) to report YoY growth by 30 per cent, 32 per cent and 37 per cent, respectively.
Real estate developers are reporting record presales in the seasonally weakest quarter Q2; Sobha Ltd. (Rs ₹1,700 crore, growth of 48 per cent YoY), Prestige Estate Projects Ltd (reported ₹7,100 crore, growth of 102 per cent YoY), Macrotech Developers (₹3,500 crore growth of 12 per cent YoY).
“We expect this momentum to continue in Q3 FY24 with new launches adding a multiplier effect to the presales. Within micro-markets, we expect the consolidation story to continue in the top six cities with strong volume-driven growth in Bengaluru, Mumbai Metropolitan Region and Pune, while National Capital Region growth will be driven largely by higher price appreciation in the luxury segment,” HDFC Securities said in its report.
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