Unitech net climbs 29%

Unitech Ltd, the country’s second-largest developer, posted a 29 per cent increase in its net profit for the December quarter, on the back of improved home bookings. Unitech registered a consolidated net profit of Rs 176 crore in the quarter, compared to Rs 136 crore in the corresponding quarter the previous year.

The company’s net sales were up 57 per cent to Rs 774.46 crore in the quarter, against Rs 491.24 crore in the quarter last year.

The company has booked properties of around 3 million square feet in the December quarter alone, compared to 3 million sq ft in the whole of 2008-09.