Unitech shines on entering into leasing agreement with Aricent, Fidelity

28 Mar 2014

Unitech is currently trading at Rs. 11.95, up by 0.31 points or 2.66% from its previous closing of Rs. 11.64 on the BSE.

The scrip opened at Rs. 11.79 and has touched a high and low of Rs. 12.05 and Rs. 11.75 respectively. So far 966461 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 31.50 on 20-May-2013 and a 52 week low of Rs. 10.86 on 04-Mar-2014.

Last one week high and low of the scrip stood at Rs. 12.05 and Rs. 11.30 respectively. The current market cap of the company is Rs. 3131.71 crore.

The promoters holding in the company stood at 48.27% while Institutions and Non-Institutions held 29.65% and 22.08% respectively.

Real estate major, Unitech has entered into leasing agreement with Aricent and Fidelity to lease about 10 lakh square feet (sq ft) in Gurgaon Infospace Tikri special economic zone (SEZ). This 15-year agreement is likely to fetch about Rs 1,000 crore to Rs 1,100 crore to Unitech. The current leasing rate at the Tikri SEZ is about Rs 60 to Rs 65, and the rentals go up by about 10-15% every 3-5 years. The SEZ is being developed by the Unitech and its group firm Unitech Corporate Parks (UCP), which is listed in London.

Earlier, the company has inked Rs 800-crore leasing deal with MNC human resource firm Aon Hewitt in order to lease space at one of its IT SEZs in Gurgaon. The HR firm has leased over eight lakh square feet of space at Unitech’s Gurgaon Infospace Tikri SEZ for a period of over 15 years.

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.

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