Unity Infraprojects doubles profit by 103%, hikes dividend to 20%

New Delhi, Jun 22 (UNI) Unity Infraprojects Ltd, one of India's leading construction companies, today reported a 102.57 per cent increase in its net profit at Rs 24.56 crore for the year ended 31 March, 2006.

The total income increased by 23.12 per cent at Rs 333.17 crore.

The company board has also decided to raise dividend to 20 per cent to Rs 2 per equity share on enhanced capital from Rs 1.50 per share in the previous year.

During the quarter ended March 31, 2006, the company had entered the capital market with a public issue of 3,443,000 equity shares of Rs 10 each for cash, as a result of which the paid up capital of the company had increased to Rs 10.60 crore from Rs 10 crore last year.

Unity Infraprojects, which has a presence in 8 states across India, intends to expand by tapping into the growing market for larger projects.

In the infrastructure segments, the company aims to get into more complex and technically challenging projects including turnkey and design-build projects. It also plans to increase its focus on Build-Operate-Transfer and annuity projects.

In the civil construction sector, the company intends to pursue turnkey and design-build projects to maintain and build on its current position.

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