Unitech Q1 net soars 16% at Rs 423 cr

Unitech Q1 net soars 16% at Rs 423 cr
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First Published: Wed, Jul 30 2008. 03 18 PM IST
Updated: Wed, Jul 30 2008. 03 18 PM IST
PTI
New Delhi: Realty major Unitech reported a 15.76% jump in its consolidated net profit at Rs423.31 crore for the first quarter ended June 30.
In the corresponding period last fiscal, the company had posted a net profit of Rs365.67 crore.
The total income rose by 17.20% to Rs1,054.37 crore during the quarter against Rs899.67 crore in the corresponding period last year, Unitech said in a statement.
The company expects to maximise yields per acre of development, thereby generating superior shareholder returns, company’s Managing Director Sanjay Chandra said.
During the first quarter under review, Lehman Bros Real Estate Partners had invested $175 million in Unitech’s over 100-acre slum re-development project in Mumbai. It is being developed in collaboration of local partners.
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First Published: Wed, Jul 30 2008. 03 18 PM IST