21 October 2010

Deutsche bank, Indiabulls Real Estate: Ramp-up in pre-sales as also financials

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Significant ramp-up in pre-sales and robust sequential growth in financials with projects having commenced flowing into its P&L drive revenues (INR 3.0bn, +2164% yoy, 75% qoq), EBITDA (INR 1,056m, +274%, +150%), PBT (INR 897m, +289%, +137%) and PAT post minorities (INR 509m, +984%yoy , +147%qoq). PAT pre-minorities growth is constrained to +100% qoq due to high effective tax rate of 44%.

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