Unitech posted an increase of 37% in its consolidated net profit for the first quarter ended June at R63 crore. The company?s total income from operations grew by 40% to R572.5 crore during the quarter.
The company?s sales bookings stood at 0.67 million square feet with a booking value of R450 crore, at an average realisation of R6,722 per sq ft. Residential sales bookings stood at 0.62 million sq ft while non-residential sales bookings stood at 0.05 million sq ft. The company delivered 1.05 million sq ft of completed area during the quarter.
Unitech managing director Sanjay Chandra said, ?Project execution continued to be the key focus area and the company delivered over a million square feet, highest in any quarter during the last two years.?
He added, that the company has commenced construction at a few sites where it plans to launch new projects, which is expected to boost the average price realisations of its projects further. Company?s net debt to equity ratio stood at 0.52 during the quarter. Unitech?s share price closed down 5.08% at R14.95, on Tuesday, on BSE.