Unitech's consolidated Q3 net loss at Rs 103.42 cr

Wednesday, 14 February 2018, 04:30 Hrs
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Real estate firm Unitech has reported a consolidated net loss of Rs 103.42 crore for the third quarter of 2017-18.

According to the company, its consolidated net loss during the quarter under review increased to Rs 103.42 crore from Rs 17 crore loss reported for the corresponding quarter of the previous fiscal.

"The company has entered into various agreements to sell certain land parcels towards the compliance of the orders of the Honourable Supreme Court of India," a spokesperson for the company said.

"We are also pushing for recoveries from state governments of West Bengal, Telangana and Andhra Pradesh. While in the last quarter we have been able to substantially increase the pace of construction across most of our projects, we will be able to expedite our construction activity further across all projects once these funds get released."

"The company has raised further working capital in some of its ongoing projects to meet with the need of the deliveries."

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Source: IANS
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