Real estate firm Unitech fell by 26% due to slow down in the realty sector in the first 6 months

Q: Do you know that due to slow in the realty sector Unitech's sales booking fell by 20% in the first six months?

Kajal, Delhi-NCR

18th November 2014

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Replies (4)

You are absolutely right Himangi,
Net sales fell by 36% to Rs 383.72 Cr. in July-September quarter of this financial year from Rs 595.75 Cr. in the corresponding period of last financial year and the total income fell to Rs 405.80 Cr. for the quarter ended September from Rs 633.41 Cr. in the year-ago period.

Deep Thakur, Delhi-NCR

18th November 2014

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In a statement, Unitech Managing Director Sanjay Chandra had told that the sector continues to face a challenging environment. Strong demand for office space and new hopes of the last few months is yet to interpret into boost in demand for the residential housing space.

Deep Thakur, Delhi-NCR

18th November 2014

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But a year ago company has a profit of Rs. 25.57 Cr. and in the July-September '2014, company is showing consolidated losses of Rs. 14.69 Cr. for the 2nd quarter of this financial year.

Himangi deshmukh, Delhi-NCR

18th November 2014

Hi Himangi,
A year ago company's sales declined by 1.05 million sq-ft. and now in April-September'2014 the company's sales declined to .91 million sq-ft. The average realisation has also dropped to Rs 5818/sq-ft from Rs 6830/sq-ft during the period.

Deep Thakur, Delhi-NCR

18th November 2014

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Hi Deep,
It is also seen in segment wise, the sale booking in the residential is more than halved to Rs. 251 Cr. in the first half of the 2014-15 from Rs. 510 Cr. in the corresponding period of last financial year. Even the company has delivered 2.15 million sq-ft of completed area, while it launched 0.64 million sq-ft. area in the first six month of this financial year.

Himangi deshmukh, Delhi-NCR

18th November 2014

Hi,
It is true. This happened because of slow down in the realty sector. The company had sold their properties worth Rs. 717 Cr. during the first two quarters of 2014.15 financial year.

Himangi deshmukh, Delhi-NCR

18th November 2014

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