EBITDA margins fell 38 bps YoY to 8.1% (our estimate: 8.8%) due to higher construction expenses (11.8% in Q4FY17 vs. 10% in Q4FY16) Reported PAT de-grew 26.1% YoY to | 63.7 crore. However, it included an exceptional loss of | 47.3 crore relating to provision for loans and warranties. Adjusting for this, bottomline grew 28.8% YoY to | 111.1 crore. It was higher than our expectation of | 72.5 crore despite a topline miss, on account of higher than expected other income (| 47.1 crore in Q4FY17 vs. our expectation of | 25.0 crore)...