Unitech Limited, India’s foremost Real Estate Company on 27 June 08 announced its audited consolidated financial results for the FY ended 31st March 2008.
Total income rose by twenty six percent to Rs. 42,801 million, as against Rs. 33,881 million during the preceding financial year. Profit after tax (PAT) also jumped by twenty seven percent to Rs. 16,618 million, as compared to Rs. 13,058 million in the year ended March 07. Board of the company in its meeting on 27th June also suggested a dividend of 12.5% for the fiscal year ended March 2008.
The Earning per Share (EPS) stands at Rs. 10.23 on an equity base of three thousand two hundred forty seven million rupees. Total paid capital is represented by 1,623 million equity shares of the face value of rupees two each.
The company has a reserve base of Rs. 33,232 million as of 31st March 08. Total Loans outstanding as of 31st March 2008 is Rs. 85,523 million. Company has Rs. fourteen thousand eighty two million rupees in cash and bank balances as of 31st March 2008.
Mr. Sanjay Chandra, Managing Director, Unitech Limited, said, “This performance is a outcome of the high growth plans that the company has been pursuing over the preceding few years. We are at this time working on an exciting repertoire of projects and are sure of outperforming the sector in the days to come.”
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Most real estate companies in India like Unitech and DLF have been doing considerably well thanks to the increase in demand for property, and with a number of projects in the pipeline, their revenue will only increase.
Real estate major Unitech Ltd is in final stages of negotiation with Lehman for a $500-million PE investment in its two commercial projects in Mumbai. The two sides have signed a non-disclosure agreement. According to sources, the investment may come into two SPVs floated by Unitech for the projects in Santa Cruz, and Lehman could pick up stake in the SPVs. Unitech is planning to sharpen its focus in the Mumbai market over the new two years. Unitech already has a land bank of 350 acres in Mumbai and in next two years the financial hub is expected to contribute more revenue for the company than the National Capital Region.Both the Mumbai projects would have a combined developable office space of 2 million sq ft in the initial phase.For more view- realtydigest.blogspot.com
Yes i have also buy lot of stock of the Unitech which is to be very panic for me. Really I am very trouble to buy that stock.