Unitech, a major realtor giant in India, will be boasting of sales worth approx INR 5,600 Crores in the first three quarters of the current financial year. According to the website www.propertykhazana.com, the firm output was approx 5.70 square feet by December and approx 18.05 million square feet which will be inaction in the Year March 2011. This emphasize on the fact that the demand for homes is on a high after the financial crisis which shook our nation in the year 2008.
As per the source saying at www.propertykhazana.com, “Unitech is on the verge of increasing the yearly objective of approx INR 6,200 Crores. The company generated average earning of approx INR 4,250 per square feet. Out of these residential areas is accounting to approx INR 3,740 square feet during the October-December duration in cities like Mohali, Lucknow, Bengaluru. Unitech, which is hoping around 51% of the sales from Mumbai, has initiated 2 million square feet of the ventures in Mumbai, out of which approx 1.70 million square feet was sold.
The contribution of Mumbai cannot be ignored. As per the survey conducted on behalf of www.propertykhazana.com, it has contributed approx 13% of the total areas which are booked between March and December, followed by the city of Gurgaon, which contributed 50% and Noida which contributed 20% with Chennai not lacking far behind with 14%. Most of the promoters appointed about 21,000 workers approx at various construction sites in the last nine months and is also eager to add another approx 5,500 work force every three months to deliver the recital. In addition to this Unitech also announced residential areas of approx 11 million square feet in the current financial year but the sales came down with approx only 3 million square feet in the third quarter from the previous approx 8.5 million square feet in the first six months.
“Unitech has introduced the commercial assets in Gurgaon, where it is said to be giving the highest outlay returns. It is also providing approx 10-11% returns for Business Areas,” Stated a Senior Analyst at Kotak Securities.
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