Realtors to report sharp fall in earnings: analysts
New Delhi: Property developers are expected to report a sharp slump in revenues and profits for the three months to December on weak home and office demand, and high financing costs, five brokerages have predicted. For Unitech, DLF’s closest rival by revenues, India Infoline has predicted sales to come down by 53% at Rs532 crore in the December quarter, from Rs1,142.10 crore in the year-ago period and net profit by 76% to Rs127 crore. Parsvnath Developers Ltd is expected to see a fall in its sales by 39.1% at Rs283.40 crore and a 79% decline in its net profit at Rs23.60 crore on a y-o-y basis, according to Religare. Mumbai’s Housing Development and Infrastructure Ltd is expected to see a 4% increase in sales at Rs515.80 crore and a 14% decline in net profit at Rs231.20 crore, according to Macquarie Securities. Indiabulls Real Estate Ltd is expected to see a 159% jump in sales at Rs97.90 crore and a 86% decline in net profit at Rs43.40 crore for the December quarter on a y-o-y basis, according to Macquarie.
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