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DLF falls after Oct-Dec results fail to impress

Source : REUTERS
Last Updated: Fri, Feb 15, 2013 05:34 hrs
An investor watches the share index at a local share and stock market in the northern Indian city of Chandigarh

Shares in DLF Ltd fell as much as 3.6 percent a day after India's largest listed real estate developer reported a net profit of 2.85 billion rupees, that missed market expectations.

DLF's Oct-Dec earnings include 8.4 billion rupees from the sale of Jawala Real Estate, the entity owning the NTC Mumbai land. Adjusting for this, DLF reported a loss of 5.5 billion rupees.

"Lower pre-sales and cost escalations led to a sharp fall in EBITDA margin from 36.6 percent to 6.6 percent quarter-on-quarter," Jefferies said in a note.

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  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
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