FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MAR 2014 (CONSOLIDATED)

28 May, 2014

Press Release
For Immediate Dissemination

FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MAR 2014 (CONSOLIDATED)

Total Income for the Quarter was Rs. 1075.22 Crores, up 15.14% YoY & 35.50% QoQ

PAT (from ordinary activities) for the quarter was Rs. 42.69 Crores, up 47.61% QoQ

Total Income for the Year was Rs. 3099.91 Crores, up 17.90% YoY

PAT (from ordinary activities) for the Year was Rs. 149.14 Crores

Achieved sales bookings of 2.33 million sq ft valued at Rs. 1502 Crores during FY14

Delivered 2.95 million sq ft of completed property during FY14

Gurgaon, 28th May 2014: 

Unitech, India’s leading business group involved in large-scale integrated real-estate development and infrastructure projects, today announced its consolidated financial results for the Quarter and Year ended 31st March 2014. The company recorded a total income of Rs. 1075.22 Crores for the Quarter ended 31st March 2014. Profit after tax from ordinary activities for the same period stood at Rs. 42.69 Crores. During the quarter, company made a provision of Rs. 103.02 Crores towards dimunition in value of its investment in wireless business. Net loss for the quarter, therefore, was Rs. 51.55 Crores. For the year ended 31st Mar’14, total income stood at Rs. 3099.91 Crores while the profit after tax from ordinary activities for the same period was Rs. 149.14 Crores. Net profit for FY14 stood at Rs. 69.74 Crores.

The Earning per Share (EPS) for the Year ended 31st March 2014 stood at Rs. 0.66 (before extraordinary items) and Rs. 0.27 (after extraordinary items) on an equity base of Rs. 523.26 Crores. Total paid up capital is represented by 261.63 Crore equity shares of Rs. 2 each.

Company’s consolidated net debt as of 31st Mar’14 was Rs. 6,316 Crores. Net debt to equity ratio as of 31st Mar’14 was 0.55.

Announcing the results, Mr. Sanjay Chandra, Managing Director, Unitech Ltd. said, “The year gone by has been a very challenging year for the real estate sector. While on the one hand, demand for housing was sluggish for most part of the year, on the other hand, construction and financing costs continued to rise. In this environment, company’s focus was primarily on ensuring that the construction activity at its ongoing projects didn’t suffer while managing a tight cash flow situation.”

“I expect the new government to give a major thrust to the development of housing and urban infrastructure creating new opportunities for real estate companies. Going forward, company is gearing itself to benefit from the widely expected improvement in the economic environment by undertaking various initiatives aimed at balance sheet strengthening, enhancing project execution capacity and boosting sales capabilities. Speeding up delivery of finished product is our key priority for the coming year.”

Key operational highlights for the Year ended 31st Mar’14 are

• Achieved sales bookings of 2.33 million sq ft
• Launched projects totaling an area of 5.81 million sq ft. during FY14
• Residential sales bookings of 1.71 million sq ft valued at Rs. 965 Crores
• Non-residential sales bookings of 0.62 million sq ft valued at Rs. 537 Crores
• Total value of Sales bookings is Rs. 1502 Crores
• Delivered 2.95 million sq ft of completed area.

About Unitech

For more information on the company, please visit www.unitechgroup.com

Forward Looking Statement

This document contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as “expects” and ‘anticipates” and words of similar import. Any statement in this document that is not a statement of historical fact is a forward looking statement that involves known or unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

For any further information please contact:

Arijit Banerjee
General Manager & Head (External Communication), Unitech Ltd.
M: +918527892800
E: arijit.banerjee@unitechgroup.com