It has come to the knowledge that Unitech, second-biggest real estate developer in real estate and construction in the sphere of India, is contriving to commence a new brand, Uni Homes, for affordable housing projects. These projects will be priced at Rs 10-30 lakh, as per company officials.
It has to be stated as well that the celebrated Indian realty company has also forayed into wireless telecommunication business. In this 60% stake amounting to Rs 61.2 billion has been brought by Norway-based Telenor, seventh largest telecom operator in the world with a subscriber base of about 159 million.
What is more, Unitech has the desire to repay about Rs 20 billion of its debt and bring it below Rs 60 billion level by the end of this fiscal. Unitech in future plans to diversify more aggressively into other related areas like hospitality and entertainment.
Unitech Group happens to be the second largest real estate investment company in the realm of India and has recently claimed to be the largest real estate builder in the country.
Unitech Group has its roots in New Delhi, national capital of India, and ranks 1484, in Forbes Global 2000 listing of the top 2000 public companies in the world by Forbes magazine, 32nd in India.
Construction business of Unitech Group includes highways, roads, powerhouses, transmission lines, and it has residential projects called Unitech Cities/Uni World, in cities like Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Bangalore, Kochi, Noida, Greater Noida, Agra, Lucknow, Varanasi, Gurgaon, and Ghaziabad.
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