Unitech sales booking in Q1 drops 31%
Aug 17, 2012
Source : The Financial Express
Tag:Unitech

 

New Delhi: Real estate major Unitech Ltd sold properties worth Rs 701 crore during the first quarter of this fiscal, down by 31 per cent as compared to the year-ago period. 
 
The company had registered a sales booking of Rs 1,020 crore during April-June quarter of last fiscal. 
 
According to operational update posted on the company's website, Unitech sold 1.51 million sq ft of area in the first quarter of 2012-13 fiscal as against 1.9 million sq ft in the corresponding period of previous year. 
 
The average sales realisation also fell to Rs 4,632 per sq ft in the first quarter of this fiscal as against Rs 5,361 per sq ft in the year-ago period. 
 
Out of the total sales booking of Rs 701 crore during April-June quarter, housing contributed sales of Rs 607 crore and non-residential segment Rs 94 crore. Noida and Greater Noida contributed bulk of sales during last quarter. 
 
Real estate sector is witnessing slowdown since the last 2-3 years. Housing demand has been hit largely due to high interest rate on home loans as well as credit to developers. 
 
Earlier this week, Unitech reported a 53 per cent decline in consolidated net profit at Rs 45.88 crore for the quarter ended June 30 against Rs 98.36 crore in the year-ago period. 
 
Total income fell by 36 per cent at Rs 442.28 crore in the first quarter of this fiscal as against Rs 686.83 crore in the corresponding period of last year. 
 
"The company's focus continues to be on ramping up the construction activity and is taking several measures to this end. A lot of emphasis is also being laid on improving various processes to drive efficiencies and reduce costs," Unitech Managing Director Ajay Chandra had said. 
 

Latest Realty News

Credai sets up realty institute, offers scholarships at Ahmedabad
Aug 17, 2012
MUMBAI: Aiming to promote excellence and bring in global standards in real estate arena, developers apex body Credai has announced two major projects - an institute for research and professional studies and educational scholarships for needy students pursuing higher education. The Credai Institute of Real Estate Research and professional Studies will be set up at Ahmedabad near a Kensville Go
Credai Odisha initiate awareness program amongst construction workers to avail due benefits .
Aug 16, 2012
Credai has started initiative of creating awareness amongst construction workers to get registered with Labour department to avail various benefits from government schemes .As per the provision labour cess collected@1% from all constructions works under going in the State and deposited in the Orissa Building and other Construction Workers Welfare Fund. This fund should Utilize in extending di
‘Cool roofs’ mandatory for all new buildings
Aug 16, 2012
New Delhi: Having suffered the worst power blackouts in the city’s history on two consecutive days last fortnight due to a collapse of the Northern grid twice, the Delhi government is mulling plans to become more energy efficient. In the wake of a recent study by Power Ministry’s Bureau of Energy Efficiency, which says electricity consumption can be brought down by 25 per cent with adoption o
New housing scheme for urban poor: PM
Aug 16, 2012
In good news for urban poor, Prime Minister Manmohan Singh on Wednesday said a housing scheme will soon be launched which will give them relief on interest on loans less than Rs five lakh. Singh also promised that the government will ensure that all households benefit from bank services in the next two years. Addressing the nation from the ramparts of Red Fort on the occasion of Independenc
Relax building rules to make best land use, says Assocham
Aug 15, 2012
New Delhi: As the country has limited land resource, city building rules should be liberalised to allow maximum covered areas in construction of houses and commercial buildings, Assocham President Rajkumar N Dhoot said today. "Recommendations of the Ashok Chawla Committee on Natural Resources (in this regard) the Floor Area Ratio (FAR) should be implemented," the Assocham chief said in a stat
Credai opposes VAT on flats sold in 2006-’10
Aug 14, 2012
The Confederation of Real Estate Developers’ Association of India (Credai), Pune Metro, has opposed state government’s order asking them to pay value added tax (VAT) on flats that they sold between June 2006 and March 2010. The real-estate body has asked for extending the deadline of August 31 to pay the retrospective tax. Credai director-general D K Abhyankar said that after April 1, 2010 th
Bhubaneswar Municipal Corporation draws boos from rural bodies
Aug 14, 2012
BHUBANESWAR: The Bhubaneswar Municipal Corporation's decision to include 21 gram panchayats (GP) in its jurisdiction has not gone down well with people of five of those GPs. Nearly 40,000 people in 28 villages in Barimunda, Kalyanpur, Dadha, Raghunathpur and Kalarahanga panchayat areas in Bhubaneswar North assembly constituency do not want the BMC to look after them, as they feel the civic bod
Relax building rules to make best land use, says Assocham
Aug 13, 2012
New Delhi: As the country has limited land resource, city building rules should be liberalised to allow maximum covered areas in construction of houses and commercial buildings, Assocham President Rajkumar N Dhoot said today. "Recommendations of the Ashok Chawla Committee on Natural Resources (in this regard) the Floor Area Ratio (FAR) should be implemented," the Assocham chief said in a state
'Housing prices in 16 cities rise up to 10.5%'
Aug 13, 2012
New Delhi: Housing prices have risen by up to 10.5 per cent in 16 major cities of the country in the April-June period, while only three towns have witnessed a marginal fall, according to National Housing Bank (NHB) data. NHB 'RESIDEX' tracks the movement in prices of residential properties on a quarterly basis since 2007. The NHB RESIDEX now covers 20 cities. "Residential housing prices in
Sahara India to pump Rs 3,000 crore in its retail venture
Aug 13, 2012
NEW DELHI: Sahara India today announced Rs 3,000 crore investment for its retail venture, while setting an ambitious revenue target of around Rs 50,000 crore after two years. The group claimed that it will open around 1,000 retail outlets under the 'Sahara Q Shop' brand initially in five states covering 60 cities and towns by 2013. The initiative will kick off from August 15. "The company h

Latest Realty News Of State

Realty Talk's