HDIL - 3QFY2013 Result Review - Angel Broking

HDIL (CMP: Rs. 68/ TP: -/ Upside: -)

For 3QFY2013, Housing Development & Infrastructure ltd (HDIL) reported mixed set of numbers with revenue coming in above street expectations but owing to lower-than-expected EBITDAM, earnings were below consensus estimates. On the top-line front, HDIL reported revenue of Rs. 423cr in 3QFY2013 indicating a decline of 0.6% yoy but was ahead of street estimate of Rs. 325cr. EBITDAM improved by 1111bp yoy to 49.1% for the quarter, and was below consensus estimate of 74.1%. Interest cost came at Rs. 23cr, indicating a growth of 21% yoy.

The company's PAT declined by 31.1% yoy to Rs. 107cr (against consensus estimate of Rs. 154cr) in 3QFY2013. Currently, the target price and rating is under review.

earnings conference call with the management which is scheduled on 15th February 2013 at 4pm.

Source : Equity Bulls

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