* Q4 adj profit $0.37/ADS vs est $0.30
* Q4 rev up more than 200 pct
* Both GFA, total value of new properties sold, rise
March 9 Chinese real estate services company
E-House China Holding Ltd's EJ.N fourth-quarter profit soared
past market estimates, ramped up by a substantial increase in
the gross floor area sold, and the company forecast
first-quarter revenue above consensus view.
For the first quarter, E-House expects to generate revenue
of $69 million to $71 million. Excluding the business from its
online real estate segment, it expects revenue to be between
$62 million and $63 million.
Analysts were expecting revenue of $59.1 million.
For the latest quarter ended Dec. 31, net income
attributable to shareholders was $39 million, or 49 cents per
American depository share (ADS), compared with $8.3 million, or
10 cents per ADS a year earlier.
Excluding certain items, net income attributable to
shareholders was 42 cents per ADS, the company said.
According to Thomson Reuters I/B/E/S, the company earned 37
cents per ADS, before items, that compares with analysts'
estimates of 30 cents per ADS.
Revenue jumped three-fold to $117.1 million, topping
analysts' expectations of $105 million, as GFA of new
properties sold touched 3.7 million square meters, up from 1.6
million square meters.
Total value of new properties sold were $4 billion, up from
$1.6 billion a year ago.
China's property markets have been undergoing a strong
revival in recent times, helped by favorable government
policies, including cheaper mortgages and lower downpayments.
ADS of the Shanghai-based company touched a high of $21.08
in morning trading Tuesday, but later gave up all its gains to
trade down 1.8 percent at $20.35 on the New York Stock
(Reporting by Biswarup Gooptu in Bangalore; Editing by Maju