In a bid to deliver at least six million sq ft of developed area this financial year, Unitech is planning to increase its construction spending. The company has nine million sq ft of delivery pending from the before 2009, when the economy started slowing. Overall, it has 12 million sq ft due for delivery.
Unitech is not the only company that has failed to deliver residential units on time. According to estimates, 200,000-300,000 units are pending for delivery from all developers in the country because of the slowdown and a shortage of funds.
Unitech, being one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.