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Unitechs revenue higher than the predicted

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According to the sources available to www.propertykhazana.com, total profit of Unitech the renowned infrastructure company in the Indian realty has blast up to Rs. 357.09 Crores in the quarter in March 2007 from Rs. 35.46 Crores in the same span as compared to 2006.
Company has viewed a substantial hike in its income for over 4 times to Rs. 848.71 Crores from Rs. 208.05 Crores. Discussion regarding combined profit of Unitech, it has hiked to Rs. 1,305 Crores in 2006-07 from Rs. 87.65 Crores in 2006 thus blotting the profit by 14 times. Company has proclaimed its 2nd dividend matter in previous year and Unitech scrip had achieved to Rs. 48.85 to close at Rs. 595.90 on BSE. The board had proclaimed 25% bonus for fiscal year in March 2007.
As per to the sources, Unitech had planned to make a high investment of Rs. 10,000 Crores in hospitality and Indian’s blooming retail segment in the coming 4 years and the company is coming up with 28 hotels raising with 4,900 rooms in initial phase. Unitech only is not running these hotels; it is with brand-cum-management bonds with main hotel chains. Company might sell a few of its selected hotel lands in case if it obtains an excellent rate in exchange, said Sanjay Chandra, MD of Unitech to www.propertykhazana.com. Unitech holds about 11,000 acres of property and will get 10-12% of it under development all year. This will make for about 30 Million Sq.ft of constructed area.
Source: NIMMA BENGALURU

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