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New Delhi, Oct. 31

Backed by higher sales and better price realisation, real estate major Unitech Ltd has posted 298 per cent increase in its consolidated net profit for the second quarter ended September 2007 to Rs 410.12 crore (Rs 103 crore). On a consolidated basis, the total income during the quarter stood at Rs 1,064.25 crore, up 142 per cent over the corresponding period last year. “We attribute this growth to higher sales and better price realisation. Many of our projects, across geographies, are beginning to take off. With our strong development and project management skills, we expect to create better value for our customers and generate superior returns for our shareholders,” Mr Sanjay Chandra, Managing Director, Unitech Ltd, said. Unitech had Rs 1,392.68 crore in cash and cash equivalents, the release said, adding that as of September 2007, advances from the customers against booking of properties stood at Rs 4,822.99 crore. – Our Bureau

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