Tuesday, October 24, 2017

Unitech Ltd: Few Points
1. The Gurugram-based real estate developer Unitech Ltd (Rs.6.40) which has been reeling under severe debt is seeking to sell six unencumbered land parcels to repay the deposits, as per a report published in Mint. 
2. The company will be one of the biggest beneficiaries of RERA, as the act is likely to weed out fly by night operator - it is a serious developer.
3. Unitech has a debt of Rs.6,733 crore and also owes Rs.7,800 crore to 16,300 home buyers across 61 projects. This is much less than DLF Ltd, whose share price is trading above Rs.175. 
4. The company has huge land bank, some of them in prime locations.
5. The company's MD is likely to get bail by 30 October, 2017. 
6. The season of Real Estate sector has begun and we could see the stock touch Rs.9, once again. 
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