Unitech Limited, India’s leading Real Estate Company, today announced its audited consolidated financial results for the financial year ended 31^st March 2008.

Total income rose by 26% to Rs. 42,801 million, as against Rs. 33,881 million during the previous financial year. Profit after tax (PAT) also jumped by 27% to Rs. 16,618 million, as compared to Rs. 13,058 million in the year ended March 2007.  Board of the company in its meeting today also recommended a dividend of 12.5% for the fiscal year ended March 2008.

The company has a reserve base of Rs. 33,232 million as of 31^st March, 08.  Total Loans outstanding as of 31^st March 2008 is Rs. 85,523 million. Company has Rs. 14,082 million in cash and bank balances as of 31^st March 2008.

The Earning per Share (EPS) stands at Rs. 10.23 on an equity base of Rs. 3,247 million.  Total paid capital is represented by 1,623 million equity shares of the face value of Rs. 2 each.

Announcing the results, Mr. Sanjay Chandra, Managing Director, Unitech Limited, said, “This performance is a result of the high growth strategies that the company has been pursuing over the last few years. We are currently working on an exciting repertoire of projects and are confident of outperforming the sector in the days to come.”

“Unitech has been expanding its presence across geographies. During the last fiscal the company has apart from growing its presence in cities like Kolkata, Hyderabad and Chennai, also entered the city of Mumbai. The foray into these new markets will drive the growth of the company in the years to come.”, further added Mr. Sanjay Chandra.

Key highlights of the year 2007-08

• Unitech forays into Mumbai with a large slum redevelopment project on the Western Expressway.
• Unitech further expanded its presence in Eastern and Southern India.
• Unitech launches Grande – India’s first ultra luxurious residential project. 2 iconic towers at the Grande – Aqua and Terra – also launched. Towers to be the tallest and most luxurious.
• Unitech launched several residential projects for the middle and upper middle income groups - The Gateway and Harmony in Kolkata, Uniworld City in Mohali and Greater Noida, South City Gardens in Lucknow, The Heritage Estate in Yelahanka, Bengaluru
• Unitech awarded Best Developer at Cityscape India Awards 2007 for the Infospace project in Gurgaon
• ‘World of Wonders’ – Amusement park in Noida commenced operations.
• Unitech received license for offering mobile telecom services in 22 circles in India. 

Sourced From: Vaishnavi Corporate Communications Pvt Ltd