Unitech sales bookings down 26 per cent to Rs 527 crore during April Septemeber
The company's sales declined to 0.91 million sq ft during April-September period of this fiscal from 1.05 million sq ft in the year-ago period
Nov 18, 2014
Source : The Economic Times


NEW DELHI:  Real estate firm Unitech's sales bookings fell by 26 per cent to Rs 527 crore in the first six months of this fiscal due to slowdown in the realty sector.

The company had sold properties worth Rs 717 crore in the corresponding period of last fiscal.

Unitech, in a presentation, said it has achieved Rs 527 crore of sales bookings during the first two quarters of 2014-15 fiscal.

In volume terms, the company's sales declined to 0.91 million sq ft during April-September period of this fiscal from 1.05 million sq ft in the year-ago period.

The average realisation has also dropped to Rs 5,818 per sq ft from Rs 6,830 per sq ft during the period under review.

Segment-wise, the sales bookings in residential more than halved to Rs 251 crore in the first half of 2014-15 from Rs 510 crore in the corresponding period of last fiscal.

However, in the non-residential segment, sales booking increased to Rs 276 crore from Rs 207 crore.

Unitech delivered 2.15 million sq ft of completed area, while it launched 0.64 million sq ft area in the first six months of this fiscal.

Last week, Unitech Managing Director Sanjay Chandra had said: "The sector continues to face a challenging environment. Strong demand for office space and the renewed optimism of the last few months is yet to translate into improvement in demand for the residential housing space".

Unitech posted Rs 14.69 crore consolidated losses for the second quarter of this fiscal compared to a net profit of Rs 25.57 crore in the year-ago period.

Net sales declined by 36 per cent to Rs 383.72 crore in July-September quarter of this fiscal from Rs 595.75 crore in the corresponding period of last fiscal.

Total income declined to Rs 405.80 crore for the quarter ended September from Rs 633.41 crore in the year-ago period.

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