Unitech Suffers Loss of Rs. 14.69 Crore but on a Positive Spree
The Delhi based real estate company Unitech Limited has been reported a total loss of Rs. 14.69 crore in the second quarter of the current financial year. For the last year’s corresponding quarter, the company has posted a total profit of Rs. 25.57 crore.
Despite this, the Managing Director of Unitech, Mr.Sanjay Chandra said positively that the high demands for office space and revised optimism of the final months is still to translate into improved demands for residential housing area. Unitech is going ahead with the interim procedure of monetising land rewards for which there is no such plans.
The net revenue of the company from practical operations almost saw a downfall of 36 per cent. The net revenue this year from July to September is only Rs. 383.72 Crore compared to Rs 595.75 Crore during the same time period last year. The company also mentioned that the consolidated net debt of Unitech is around Rs. 6,381 Crore as of September 30.
The new FDI and other developments in the real estate sector and the booming of Indian economy with a constant rise of enterprises are been sending hopes for many realtors, especially in the commercial real estate sector of the country.
Unitech Limited is a leading real estate player in the country started back 1971 and with diversified projects including amusement parks, SEZs,IT/ITes, malls, hotels and residential projects at various Indian cities in both North and South. Unitech Golf and Country Club, the two luxury projects of the company is their highlight.
amusement parks, Hotels, IT/ITES, Malls, Residential projects, SEZs, Unitech, Unitech builders, Unitech Property Management Ltd
