The Indian real estate sector is energized at last thanks to the weakening of the brunt of worldwide recession and all these have stimulated Indian realty major Unitech to bring forth newer projects. In accordance with the recent statement of Unitech, the company has a novel planning to launch 12-13 new projects, most of them residential, in the next few months.
Speaking on this, Unitech Managing Director Sanjay Chandra told the press and media, “We will be launching 12-13 new projects, predominantly in the residential side, in next 2-3 months across the country.” The total space of these new projects would be 7-8 million square feet, as per the Managing Director.
It has also been learnt that the company is concentrating on the steady reduction of debt. It is to be noted that the realty firm has already brought down its debt from Rs 10,000 crore to below Rs 6,000 crore. “In FY11, we plan to reduce our debt by another Rs 1,000 crore,” Chandra said.
It ought to be kept in mind that Unitech Group happens to be India’s second largest real estate investment company, and has recently claimed to be the largest real estate builder in the country. Even though the company has its basis in New Delhi and ranks 1484, in Forbes Global 2000 listing of the top 2000 public companies in the world by Forbes magazine, 32nd in India, it has a strong basis in the Indian subcontinent as well.
The construction business of Unitech include 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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