In order to develop housing project in Noida and repay LIC's debt, Unitech is reportedly planning to raise around Rs 500 crore from private equity firms. The company is in advance stage of discussion with 2-3 private equity firms, including one from the Middle East, to raise funds. Last year, the company had raised around Rs 70 crore from Piramal group to complete construction of its joint venture housing project in Chennai.
Unitech, 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.
