Unitech has lowered debt by 40 per cent in last two and half years and would further reduce the borrowing in coming quarters from operational cashflows. Besides gradual reduction in debt, the company would infuse more funds on construction of ongoing projects for fast execution of about 80 projects across the country. It invested Rs 1,300 crore on construction last fiscal.
The company’s debt-equity ratio was in a comfortable position at 0.46 per cent and is very low compared to peer groups. Unitech, has cut debt by nearly Rs 400 crore in the first half of this fiscal. In 2009-10 fiscal, the company had raised about Rs 4,500 crore from qualified institutional placement of equity shares, out of which about Rs 2,200 crore was utilised to cut debt.
During the first half of this fiscal, Unitech has sold 3.71 million sq ft of area, mostly residential, worth Rs 2,088 crore. The company has launched projects comprising 6 million sq ft of saleable area and more projects are in pipeline.
| Company Name | CMP |
|---|---|
| Lodha Developers | 873.70 |
| Dilip Buildcon | 455.15 |
| DLF | 589.70 |
| Oberoi Realty | 1712.60 |
| Ahluwalia Contract(I | 825.75 |
| View more.. | |
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