In a bid to part finance its ongoing housing projects, Unitech is planning to raise around Rs 200 crore from private equity players. The realty firm has increased the pace of construction works significantly during last two months to complete ongoing housing projects and improve cash flow. Though, company has no plans to launch new housing projects this year and would focus on delivery of existing projects.
The company has cleared about Rs 1,000 crore liabilities of telecom business and it would not have to service the telecom debt. Unitech had exited from the telecom joint venture with Telenor in October 2012 by selling its entire 32.75 per cent stake to the Norwegian firm.
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.
