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![Outline of plan [Parent company]](../images/15.jpg)
I will next outline our plan for condominiums for sale.
We plan to sell 2,879 units and record (non-consolidated) revenue of ¥107.2 billion for the fiscal year ending March 2011.
In the plan, sales from block-sales properties of about ¥20.0 billion (1,054 units) were included. The Company sold 499 units worth ¥9.7 billion to Comforia Residential REIT, Inc. in the second quarter.
Sales were solid, and the contract ratio, except for block-sale properties, was 74%.
We will deliver projects that are selling well, including Futako Tamagawa rise and Branz City Konandai, in fiscal 2010, but there are some projects that will not contribute significantly to earnings. Overall, we expect the gross margin for the condominiums to exceed 10%.
We have acquired land for 4,800 units (pipelines) to be delivered in or after FY2011.
We recorded revenue of ¥8.5 billion and capital gains of ¥1.5 billion in association with buildings for sale for FY2009, but have not included the expected results associated with buildings in our plan for FY2010.
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