Unitech achieves Rs 1,299 cr sale bookings of in Q1

Unitech Ltd, the country's second major real estate firm has sold properties worth Rs 1

,299 crore throughout the first quarter of this economic mostly on the back of vigorous sales in the residential section. "Over 3 million sq ft of region sold throughout the first quarter of 2010-11 financial. Value of sales bookings near to 1,300 crore," Unitech remarked in a presentation giving action update regarding the company.

Unitech builder had sold 16.6 million sq ft of region totaling to Rs 7,033 crore in 2009-10 monetary. In the primary quarter this economical, the residential sector donated Rs 987 crore beyond the whole sales bookings of Rs 1,299 crore. The company sold 2.61 million sq ft of accommodation space and 0.4 million sq ft of commercial region in delhi real estate.

Nevertheless, in terms of average awareness, non-residential sector charged better at Rs 7,784 per sq ft while accommodation space was sold at an average price of Rs 3,782 per sq ft. Location-wise, the national capital region donated 71 % to the total sales bookings.

Unitech had altered its policy last year and determined to focus more on middle and reasonably priced residential segment. Ahead of that it was chiefly aiming opulence and upper middle-income residential division. The company started offering product in the sub Rs 20 lakh range under an innovative brand 'Unitech Unihomes 3'.

"Through a combination of reduction in costs, decrease in unit sizes and reduction in margins, Unitech has been able to offer housing at prices reasonable to a wider cross section of customers," the company announced.

Unitech builder supposed it is "well balanced to be the market leader in residential real estate". On the real estate market, Unitech whispered the recovery in the property sector from slowdown began in March 2009 with revival in insist for reasonably priced housing.

"Requirement for higher end residential product also picked up during the second half of FY'10," it added.

Unitech achieves Rs 1,299 cr sale bookings of in Q1

By: Shailendra Singh

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