The second largest realty firm of India Unitech encouraged by an increase in its consolidated quarterly net profit which jumped over 14% announced its plans of acquiring new projects. It plans that in the coming months it will be developing more new projects.
In the last fiscal of the same quarter the consolidated net profit of Unitech stood at Rs 157.77 crore whereas this fiscal it is Rs 180.04 crore. Its total income during the last fiscal was Rs 548.22 crore in April-June but this fiscal it increased by 53.87% to reach Rs 843.57 crore. Mr. Sanjay Chandra the managing director of Unitech said that the company is now in a healthy position financially and as such is looking up to acquire new projects. However Mr. Chandra did not divulge any specific information about the projects that the company plans to acquire.
He said that Unitech would now be focusing on affordable housing segment. He feels that this strategy is significantly increasing the cash flow. It was since last year that the company began focusing on mid and affordable housing segment. Earlier Unitech was developing properties targeted at the luxury and upper middle-income segment. It has started a new brand named ‘Uni-Home’ through which it offers properties in the sub-Rs 20 lakh range.
In the last fiscal of the same quarter the consolidated net profit of Unitech stood at Rs 157.77 crore whereas this fiscal it is Rs 180.04 crore. Its total income during the last fiscal was Rs 548.22 crore in April-June but this fiscal it increased by 53.87% to reach Rs 843.57 crore. Mr. Sanjay Chandra the managing director of Unitech said that the company is now in a healthy position financially and as such is looking up to acquire new projects. However Mr. Chandra did not divulge any specific information about the projects that the company plans to acquire.
He said that Unitech would now be focusing on affordable housing segment. He feels that this strategy is significantly increasing the cash flow. It was since last year that the company began focusing on mid and affordable housing segment. Earlier Unitech was developing properties targeted at the luxury and upper middle-income segment. It has started a new brand named ‘Uni-Home’ through which it offers properties in the sub-Rs 20 lakh range.
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