Unitech Ltd, the country’s second-largest real estate developer, today said its consolidated net profit rose 14 per cent to Rs 180.04 crore during the quarter ended June 2010, compared to Rs 157.77 crore during the corresponding period last year.
The income went up by 53 per cent to Rs 828.57 crore, compared to Rs 539.96 crore in the same period last financial year.
The increase was 60.92 per cent if you exclude Rs 25.06 crore that the company realised by sale of investments in the first quarter of last year.
The rise was largely driven by the demand in the residential segment. Higher demand for households also meant that expenditure on real estate and construction went up.
Total expenditure more than doubled to Rs 543.54 crore compared to around Rs 204 crore a year ago.
In terms of segment-wise revenue, the company clocked Rs 700 crore from the real estate market, Rs 10.56 crore from construction, Rs 27.39 crore from consultancy, Rs 3.48 crore from hospitality and Rs 54.47 crore from transmission towers.
