Unitech sales stood at Rs2,088 crore in April-Sept

Unitech reported a 47% decline in its consolidated net profit at Rs92.46 crore for the quarter ended September 30, 2011

Realty major Unitech said the company has sold 3.71 million sq ft of area worth Rs2,088 crore and reduced its debt by nearly Rs400 crore in the first half of this fiscal.

In a presentation, the company said that it has launched nearly 6 million sq ft between April and September period of this fiscal.

“Over Rs 2,000 crore of sales bookings achieved during H1 2011-12,” it said, adding that the average sales realisation stood at Rs5,633 per sq ft.
Out of 3.71 million sq ft that it sold during the first half of this fiscal, Unitech said the housing sector accounted for 3.22 million sq ft.

In sales booking, the housing segment contributed Rs1,565 crore, while the non-residential vertical accounted for Rs523 crore, the presentation said.
Unitech said its debt has reduced by Rs394.69 crore in the first half of the current financial year. The company had a consolidated net debt of Rs5,144 crore as of September 30.

Unitech reported a 47% decline in its consolidated net profit at Rs92.46 crore for the quarter ended September 30, 2011. The net sales fell by 3% to Rs626.06 crore in the second quarter of the current fiscal against Rs644.51 crore in the same period of the last fiscal.

In the late afternoon, Unitech was trading at around Rs23.20 per share on the Bombay Stock Exchange, 6.26% down from the previous close.

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Social media users on phones to exceed PC users: Nielsen

According to the study, more Indians log on to social media sites, they also engage with brands online

In its recent study conducted by Nielsen, a global information and media company, highlighted that the number of social media users on mobile phones in India is expected to exceed those accessing similar sites on personal computers (PCs) in the coming year.

According to the study, more Indians log on to social media sites, they also engage with brands online. The report states that brand engagement is also influential in the buying process. Of the 39% of consumers who consider a recommendation for a product on a social networking site when making a purchase decision, three out of four will often purchase the products based on the review.

On a scale of one to 10, where a level of 10 is the most engaged, the Nielsen Engagement Index shows that all brands cluster around a score of seven—regardless of whether a fan page has one or 4.5 million fans. One in six respondents wants brands to share updates with him on new products and services. 53% want announcements on sales or discounts and 50% want to hear about the latest industry trends. 48% consumers also want brands to provide tips and tricks about how to maintain and use products/services.

The facts from the study were discussed at the session, "More Indian Consumers to Choose Mobile Over PC for Social Media BY 2012" that took place at the 2011 edition of Nielsen's annual conference, "Consumer 360 India," at The Grand, Delhi.

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Franklin Templeton MF launches Corporate Bond Opportunities Fund

Franklin Templeton MF new issue closes on 29th November

Franklin Templeton Mutual Fund has launched Templeton India Corporate Bond Opportunities Fund, an open-ended income scheme.

The investment objective of the scheme seeks to provide regular income and capital appreciation through a focus on corporate securities. The new issue closes on 29th November and reopens on 8 December 2011. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Umesh Sharma and Sachin Padwal-Desai are the fund managers.

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