Unitech soars on plan to invest Rs 4,000 crore to develop 13 shopping malls

28 Nov 2011

Unitech is currently trading at Rs 23.75, up by 0.70 points or 3.04% from its previous closing of Rs 23.05 on the BSE.

The scrip opened at Rs 23.50 and has touched a high and low of Rs 23.80 and Rs 23.30 respectively. So far 97,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 68.05 on 04-Jan-2011 and a 52 week low of Rs 21.90 on 23-Nov-2011.

Last one week high and low of the scrip stood at Rs 24.50 and Rs 21.90 respectively. The current market cap of the company is Rs 6030.57 crore.

The promoters holding in the company stood at 48.57% while Institutions and Non-Institutions held 34.62% and 16.80% respectively.

Realty firm, Unitech is planning to invest about Rs 4,000 crore to develop 13 shopping malls over the next four years. The company is exploring land for another five malls in the metros and state capitals.

At present, the company has nine malls under construction and acquired land for another four malls. The nine malls, which are under construction would be operational by 2013-end.

The company currently has three operational malls in Noida, Delhi and Gurgaon with a total area of 1.3 million sq ft since 2006. The upcoming malls would be in Noida, Kochi, Bhopal, Bhubaneswar, Bangalore, Dehradun, Mohali, Lucknow, Gurgaon, Hyderabad, Mumbai and Kolkata.

Recently, the company sold over 300 housing units worth Rs 250 crore under a recently launched project at Gurgaon. Apartment prices at Crestview start from Rs 70 lakh. Group housing project ‘Crestview’ is a part of the 500-acre integrated township that the company is developing in Gurgaon in Haryana.

Related Unitech Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323

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