DLF Q4 PAT seen down 21 per cent at Rs 172 crore

MUMBAI: Real estate major DLF is likely to report a 21 per cent decline in net profit to Rs 172 crore for the quarter ended March 2013 compared to a net profit of Rs 212 crore in the corresponding quarter last fiscal, says an ET Now poll.

Net sales are seen at Rs 2,040 crore, down 22 per cent, compared to the net sales of Rs 2,617 crore in the year-ago period.

EBITDA is seen at Rs 795 crore, down 0.3 per cent, compared to Rs 797 crore and margins are seen up at 39 per cent from vs 30.5 per cent in the same quarter the previous fiscal.

According to analysts, the drop in revenues is expected due to new accounting norms of revenue recognition. The launch delay of projects -- Camellias and Crest -- are likely to affect revenues. The company has launched three projects.

The debt levels are likely to remain at the same levels. The company is yet to receive funds from Aman Resorts. Margins are expected to improve sequentially. High interest costs are likely to dent profits.