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Unitech Profit in Booming Mode

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Unitech is making silent ripples in the wave of realty. It took a decision to sell telecom business to Norway’s Telenor, but now it is India’s second largest realty luminary. According to the website www.propertykhazana.com, it is showing an awesome rise of 30% approx in the profit at INR 177 Crores during the month of October-December. The company is having a new profit of INR 137 Crores during the previous financial year. The Unitech’s total income increased from 492 Crores approx to INR 775 Crores.
The country’s biggest realty firm DLF is showing approx 31% decline. Unitech was severely affected after the recession. The company reduced the debt during last two financial quarter and came down to December 31, 2009 at a promising 0.55 percent. As per the sources at www.propertykhazana.com, the company brought down its debt by INR 2,900 Crores approx. The bank balance was approx INR 615 Crores and the total loans is approx INR 6301 Crores.
Unitech gave green signal to approx 31 new projects which had an area of approx 25 million in the first nine months. The company has received the bookings for approx 14 million square feet across major Indian cities. The complete booking till December 2009 was INR 6,000 Crores approx. This market saw the growth of Unitech becoming an important player in Chennai and Mumbai. The booking went for approx 1.8 million square feet in Mumbai and approx 2 million in Chennai.
On a short note with www.propertykhazana.com, MD of Unitech, “Company is making tremendous growth regarding new assignment and sales”. The construction is going on at a fast pace. During the last three quarters, the company has created many projects and implementing over 60 projects. For more information, please visit the website www.propertykhazana.com.
Source: NBTVLIVE

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