Real estate firm Unitech has posted a 46.80 per cent fall in its consolidated net profit at Rs 49.19 crore for the quarter ended September 30 against Rs 92.46 crore in the same period a year ago.

Net income during the second quarter also fell by 20.54 per cent to Rs 539.83 crore (Rs 679.35 crore), a company statement said.

The company’s consolidated net debt stood at Rs 5,566 crore. The net debt to equity ratio as of September 30, stood at 0.47.

Unitech Managing Director Sanjay Chandra said, “With improving liquidity and focused efforts, construction activity at various sites has witnessed marked improvement during the last quarter and should reach the targeted levels soon. Demand in real estate was healthy during the quarter”.

The company said it received sales bookings of 1.55 million sq ft, worth Rs 836 crore during the July-September period, up 19.26 per cent from the previous quarter of this fiscal.

bindu.menon@thehindu.co.in

(This article was published on November 11, 2012)
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