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Unitech aims to raise Rs 900 cr from asset sale by June

18 May 2009 Evaluate

Unitech, the country’s second largest real estate developer, plans to generate Rs 900 crore from the sale of two hotels in Gurgaon and a commercial office complex in Saket, New Delhi, by the end of June. The company plans to generate Rs 1,600 crore by selling assets, including plots and residential projects, by the end of the current fiscal. Earlier this year, the company sold its Marriott Courtyard hotel, comprising 199 rooms, in Gurgaon for Rs 231 crore to a high net worth individual based out of Delhi.

 

The Sanjay Chandra-led company also plans to reduce its debt to Rs 4,000-Rs 5,000 crore by the second quarter of the next financial year from the sale of assets. As on March 2009, Unitech had Rs 8,900 crore worth of debt on its books. It intends to repay Rs 1,000 crore debt by the end of June.

 

The company is also looking to sell its school and hospital plots. “We have around 20 school and hospital plots in the national capital region (NCR) and are negotiating with prospective buyers.

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Unitech Share Price

4.96 0.08 (1.64%)
10-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 827.75
Dilip Buildcon 434.80
DLF 569.60
Oberoi Realty 1671.50
Ahluwalia Contract(I 782.75
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