VLC Media Player Desktop Streaming Optimization

I need to stream my Desktop over HTTP using VLC Media Player.

My requirement is to achieve the streaming delay less than 1s. Now I am achieving delay of about 3-5 seconds.

What Options(configurations) such as frame-rate , Trans-coding Profile(Encapsulation,Video codec,...) should I alter in-order to get the desired speed.

For Now I am testing with Linux Desktop Client but on Production Android will be the client over HTTP. Hence Considering android client for optimization will be appreciated.

My Streaming Machine is Ubuntu Linux 14.04 , 4GB RAM,Intel® Core™ i3-2328M CPU @ 2.20GHz × 4.

VLC Media Player Version 2.1.6