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Unitech clears it debt for Rs 700 crore

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After a long run of crisis and debt Delhi based Unitech group has made a clearance to a debt with an amount of Rs 700 crore. It raised the stock price of the company by 33 percent at the Bombay Stock Exchange. According to a source of www.propertykhazana.com the company has recently made a sale deed of Gurgaon Hotel for Rs 235 crore. The company has received an advance of 45 percent against the deal and rest 55 percent will be on the company’s account with in a very short while.
Apart from this it telecommunication unit to Telenors has made the company collection more with Rs 380 crore. In count to it the company’s telecom debt of Rs 2000 crore has also been cleared with a transfer from Unitech Wireless during the last financial accounting of the company. Now at the end of the day the Unitech stands on the debt of Rs 8000 crore as per the sources of www.propertykhazana.com.
M D of the company Sanjay Chadra reveals that “till the mid of current financial year Unitech has succeeded to clear or reschedule around three – fourths of the total Rs 2500 crore loans”. Source of www.propertykhazana.com reveals that the company’s last project of budget housing in Gurgaon has proved a trump card for the company as all the 150 units were sold out efficiently with in the first fifteen days for the first phase of construction and same response was gathered by the company during its later phases of completion of around 300 unites making a huge comeback to the realty market. For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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