Leading real estate player of the country Unitech has announced its plans to develop several simultaneous projects in the next four months. According to Unitech sources the company will shortly launch a project through which it will develop 10 million square feet of area. The estimated cost for constructing this project will come to the tune of Rs 1,500-2,000 crore. A senior company official while talking to reporters said that Unitech is in the process to launch several real estate projects throughout India and the total area will be around 10 million sq ft. He said that most of the projects will cater to mid-segment housing demand.
Unitech revealed to its investors in a presentation that the company has in the first nine months of this fiscal raised Rs 3,348 crore by selling 7.9 million sq ft of area. Now the company plans to raise another Rs 5,000 crore by selling 10 million sq ft of area. For the period between October-December of 2010 the company had reported a dip of 36.73% in its consolidated net profit. It incurred losses to the tune of Rs 111.36 crore which was because of disposal of a capital asset. However as on December 31, 2010 Unitech managed to reduce its net debt by Rs 555 crore through realty operations.
Unitech revealed to its investors in a presentation that the company has in the first nine months of this fiscal raised Rs 3,348 crore by selling 7.9 million sq ft of area. Now the company plans to raise another Rs 5,000 crore by selling 10 million sq ft of area. For the period between October-December of 2010 the company had reported a dip of 36.73% in its consolidated net profit. It incurred losses to the tune of Rs 111.36 crore which was because of disposal of a capital asset. However as on December 31, 2010 Unitech managed to reduce its net debt by Rs 555 crore through realty operations.
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