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Rs 2,088 crore properties sold by Unitech

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One of the leading brand in the Indian Real Estate sector – Unitech declares their net sale with 3.71 million sq fit of area with Rs 2088 crore. It was a great help for the company to lessen its debt by Rs 400 crore for the first half the current fiscal year. Statement was continued with launching of around 6 million sq fit between the term of April and September for the current economic season. There was sales booking of amount around Rs 2000 crore during 2011-12 boosting up the aggregate sale by Rs 5633 per square fit.
During the first half of the current economic year out of the 3.71 million sq fit sold areas 3.22 million sq fit was occupied by the housing segment according to the sources of Unitech management. It was also revealed that the housing unites has made a contribution of around Rs 1565 crore while there was a helping had of Rs 523 crore from the rest of the projects sold. Now aggregating all these calculation the debt of the company has been led down by Rs 394.69 crore for the first half fiscal year against the total of Rs 5144 crore as of 30 September 2011. The leading realty firm also declares their net profit which was in a declining note with 47 percent till the end of the second quarter 2011. Despite harsh situation of the market company managed a considerable profit amounting Rs 92.46 crore for the quarter ended 30 September for current economic year. Dropping of the sales which was depleted by 3 percent amounting Rs 626.46 crore against the 644.51 crore for the same fiscal period a year ago is the main reason for the reduced net profit of the company.
Source: NIMMA BENGALURU

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