Unitech net up 450% in Q4 FY06; recommends 10% dividend

New Delhi, June 30 (UNI) Real estate major Unitech Ltd today reported a 450 per cent increase in its net profit at Rs 35.46 crore for quarter ending March 31, 2006 from Rs 6.45 crore in the corresponding period last year, besides recommending a 10 per cent dividend on expanded share capital.

The company has also announced a bonus issue of 12 shares for every existing share of the company, as well as the sub-division of the shares to a face value of Rs 2 each.

The Board of Directors recommended a dividend of 10 per cent on the expanded share capital, translating into Rs 0.2 per share for every Rs 2 paid up share, Unitech Managing Director Sanjay Chandra said here.

The stand-alone total income of the company rose by 69 per cent at Rs. 220.47 crore in the Q4 of 2005-06 from Rs 130.23 crore in the same period last year.

Unitech's annual net profit stood at Rs 87.65 crore in 2005-06, up by 152 per cent, as compared to Rs 34.80 crore in 2004-05.

Company's consolidated income for 2005-06 increased by 44 per cent at Rs 954.50 crore as compared to Rs 664.90 crore in the previous year.

Unitech Ltd, with expertise in real estate, construction and infrastructure development space, is the largest listed real estate company in India with a market capitalisation of 3.8 billion dollars.

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