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Our Bureau

New Delhi, July 31 Fuelled by higher sales and improved price realisation, real estate major Unitech Ltd on Monday reported 371 per cent jump in net profit to Rs 347.83 crore for quarter ended June 2007, from Rs 73.92 crore in the year-ago period.

Its total income, on standalone basis, increased by 158 per cent to Rs 788.73 crore during the period, from Rs 306.21 crore in the corresponding period of the previous year. On consolidated basis, the profit after tax (PAT) for the quarter stood at Rs 365.67 crore on a total income of Rs 899.67 crore.

“We attribute the growth in revenue and profit to better price realisation, higher sales and our focus on higher segment of the value chain,” Unitech Ltd, Managing Director, Mr Sanjay Chandra, said at a conference.

Mr Chandra said the company was looking at entry in western region and has even acquired land in Maharashtra and Goa. Asked about foray into airport, he said, the company would bid for projects in Greater Noida, Kolkata and Chennai. “We are talking to international operators for tie-up” he said.

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