Moneycontrol
Feb 13, 2018 09:57 PM IST | Source: Moneycontrol.com

Unitech Q3 net loss widens to Rs 103.42 crore

Unitech's total income, however, rose to Rs 548.47 crore for the third quarter of this fiscal from Rs 414.16 crore in the corresponding period of the previous year.

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Crisis-hit Unitech today reported a net loss of Rs 103.42 crore, much more than the Rs 17 crore loss reported for the same quarter last year.

Unitech's total income, however, rose to Rs 548.47 crore for the third quarter of this fiscal from Rs 414.16 crore in the corresponding period of the previous year.

Unitech spokesperson said the company has entered into various agreements to sell certain land parcels.

"We are also pushing for recoveries from state governments of West Bengal, Telangana and Andhra Pradesh. While in the last quarter we have been able to substantially increase the pace of construction across most of our projects, we will be able to expedite our construction activity further across all projects once these funds get released," the spokesperson said.

Unitech said it has raised further working capital in some of its ongoing projects and the company stands committed towards delivering all of its projects to customers.

(With PTI inputs)
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