Unitech and UK based company UCP have reportedly signed exclusivity with a potential buyer. Both the entities will sell six Indian assets for a maximum of Rs 12,500 crore. Moreover, both entities are planning to exit IT park portfolio of 16m sq.ft.
Further, Unitech is expected to raise Rs 4,000-5,000 crore from milestone payment over three years. Unitech has 40% stake in assets and hold 13% in UCP.
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.
