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Rs 92.46cr for Sept quarter at Unitech hand

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The renowned name in the realty market of India, Unitech is queuing up with their counters parts with a 47 percent decline on their net profit that will be at the position of Rs 92.46 Crore for the September ending quarter – 2011. The over all sale of the company was recorded with Rs 626.06 Crore with a fall of 3 per cent as compared to the consequent period of last fiscal year. But the net worth of the company was at Rs 11924.54 Crore the same quarter of 2011. On a short note with the Managing director of the company Ajay Chandra said that the it was a not a proper business environment in the realty sector that makes a lot of fluctuation in the various rates of products and other amenities along with the interest rates of the country’s financial set ups.
So looking to the circumstances the current strategy for the company will be to focus on the mid income fragment of the country for a better mileage to the realty segment. Despite such harsh environment Unitech managed to achieve at sale booking of amount Rs 1068 Crore which will be helpful to reduce the debt by Rs 191 Crore from its internal sources as added by Chandra. But on the matter of space area the company has exceeded its prevailing target of 10 million square feet for the current year projects. On the floor of BSE Unitech has to settle down at Rs 25.70 with a down of 5.86 per cent as compared with the last year.
Source: NIMMA BENGALURU

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