Unitech sells properties worth Rs 2,088 cr in Apr-Sep

Realty major Unitech today said the company has sold 3.71 million sq ft of area worth Rs 2,088 crore and reduced its debt by nearly Rs 400 crore in the first half of this fiscal.

In a presentation, the company said that it has launched nearly 6 million sq ft between April and September period of this fiscal.

"Over Rs 2,000 crore of sales bookings achieved during H1 2011-12," it said, adding that the average sales realisation stood at Rs 5,633 per sq ft.

Out of 3.71 million sq ft that it sold during the first half of this fiscal, Unitech said the housing sector accounted for 3.22 million sq ft.

In sales booking, the housing segment contributed Rs 1,565 crore, while the non-residential vertical accounted for Rs 523 crore, the presentation said.

Unitech said its debt has reduced by Rs 394.69 crore in the first half of the current financial year. The company had a consolidated net debt of Rs 5,144 crore as of September 30.

Yesterday, Unitech had reported a 47% decline in its consolidated net profit at Rs 92.46 crore for the quarter ended September 30, 2011. The net sales fell by 3% to Rs 626.06 crore in the second quarter of the current fiscal as against Rs 644.51 crore in the same period of the last fiscal.