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« Crisis Hit Realtors Look to Settle Dues through Barter System | Home | Bookings Open for Falcon’s Ambitious Project “Gulmohar Woods” »

DLF Witnesses Sharp Fall in Mar qtr

KR Choksey Research has come out with its earning estimates on the Real Estate sector for the quarter ended March 2009. According to the research firm, DLF’s March quarter sales are expected to go down 81% to Rs 800 crore on YoY basis. The company’s net profit is seen going down by 89% to Rs 249 crore on YoY basis.

The research firm said sales of the company are expected to fall sharply by nearly 81% y-o-y and nearly 41% q-o-q as both DAL and non DAL revenues would fall. There would be no revenues from DAL in the quarter which till accounted for nearly 40% of DLF quarterly revenues.

It also said non DAL revenues would be mostly booked from the Affordable housing segment. New projects were launched in Delhi, Hyderabad, Bangalore and Gurgoan at 25-40% discount to the prevailing prices and price cuts were also seen in existing projects in Chennai and Gurgoan. Margins of the company are expected to correct sharply as revenues would be booked from the low margin affordable housing segment.

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