DLF Q4 Results Preview: Net profit likely to jump 28%, margin may expand by 410 bps

DLF Q4 Results Preview: Gurugram-headquartered real estate developer DLF is all set to report its financial results for the quarter as well as the year ended March 31, 2024, on Monday, May 13. Analysts expect the property developer to stage a strong financial performance for the final three months of FY24. 

According to Zee Business research, DLF is estimated to register a consolidated net profit of Rs 730 crore for the fourth and final quarter of the financial year 2023-24, which translates into an increase of 28.1 per cent over the comparable period a year ago. The analysts expect the real estate firm to clock a 33.9 per cent year-on-year jump in quarterly revenue to Rs 1,950 crore. 

The realty developer is expected to log Rs 615 crore in fourth-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), marking growth of 54.4 per cent over the year-ago period, according to the research. 

Zee Business analysts peg DLF's margin, a key measure of profitability, at 31.5 per cent for the final quarter of FY24, as against 27.4 per cent a year ago. 

Sharekhan, which has DLF among its high-conviction largecap ideas, expects expects some moderation in DLF's quarterly pre-sales numbers owing to a high base a year ago.

DLF Q3 FY24 Results: A summary

For the October-December period, DLF's consolidated net profit grew 26.6 per cent to Rs 655.7 crore while its revenue increased 1.8 per cent to Rs 1,521.3 crore, according to a regulatory filing. 

The realty developer's EBITDA increased 7.1 per cent for the December quarter while margin improved by 170 bps to 33.6 per cent. 

Zee Business analysts had estimated DLF's Q3 profit at Rs 754.4 crore, revenue  at Rs 1,873.4 crore, EBITDA at Rs 667.7 crore, and margin at 35.6 per cent. Read more on DLF Q3 earnings

DLF shares: Past performance

As of May 9, DLF shares have grown 90 per cent in a year, outperforming a 20 per cent rise in the headline Nifty50 index but underperforming a 106 pre cent surge in the Nifty Realty gauge. 

Sharekhan is positive on DLF shares with a target price of Rs 1,110, which implies an upside of 32.6 per cent over their May 9 closing price.  

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