PREVIEW-Turkey's Enka to boost Q3 net 61 pct on real estate

* Q3 results due on Tuesday

* Net income seen 161 million lira

* Sales expected to dip on Russian slowdown

ISTANBUL, Nov 10 (Reuters) - Enka Insaat (ENKAI.IS),
Turkey's largest construction company, is expected to post a 61
percent jump in its third-quarter net profit on Tuesday, after
earnings from real estate rose, according to a Reuters poll.

Istanbul-based Enka's consolidated net income was seen at
161 million lira ($110 million) on sales of 2.18 billion lira,
according to the average forecast in a survey of nine analysts.
Revenue was 2.38 billion in the year-ago period.

France's Auchan agreed in late 2007 to operate Enka's
Russian grocery-store chain Ramstore. That boosted the Turkish
company's income from rent, which has higher profit margins than
retail, said Toygun Onaran of KBC Securities in London.

"We see a serious rise in margins on the retail side, due to
it becoming a real-estate company," Onaran said. "Enka has begun
to earn rent, and those margins are several times higher than
they were as retail."

Enka has sold a number of small retail units in Russia,
limiting its exposure there amid a sharp economic slowdown.
Profit fell earlier this year after construction projects in
Russia were cancelled.

Enka, which is Turkey's biggest non-state power producer, is
due to release its income statement on Tuesday. Its shares rose
2.54 percent to 6.05 lira at 0805 GMT.

The stock has gained nearly 70 percent this year, slightly
underperforming the benchmark index's 77 percent. Of
the analysts covering Enka, five rate it "buy," one
"outperform," five "hold" and two "underperform."

Following is a summary of analysts' forecasts, with figures
in millions of lira:

Mean Median Range Previous
Revenue 2176 2168 1865 to 2397 2379
EBITDA 305 299 266 to 342 N/A
Net profit 161 180 -87 to 254 100

Forecasts were provided by Deutsche Bank, EFG Istanbul
Securities, Ekspres Invest, Finans Invest, Fortis Research,
HSBC, KBC Securities, Oyak Securities and TEB Investment.
($1=1.47 lira)
(Reporting by Melis Senerdem, writing by Ayla Jean Yackley;
Editing by Hans Peters)