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Unitech Developers, Gurgaon

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Unitech Developers, Gurgaon

Last updated: July 20 2012
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  • Unitech Developers, Gurgaon

    Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

    I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

    Has anyone seen any "noticeable" change or is it just a marketing gyaan..
  • #2

    #2

    Re : Unitech Developers, Gurgaon

    Originally posted by GurgaonBuyer View Post
    Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

    I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

    Has anyone seen any "noticeable" change or is it just a marketing gyaan..
    i hope this news is true..

    Comment

    • #3

      #3

      Re : Unitech Developers, Gurgaon

      I visited Unitech office two times during last week & there was almost no activity . When I visited same office 9 months back it was full of activities & long waiting time . Looks like investors / buyers have started to loose confidence in Unitech...

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      • #4

        #4

        Re : Unitech Developers, Gurgaon

        Originally posted by GurgaonBuyer View Post
        Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

        I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

        Has anyone seen any "noticeable" change or is it just a marketing gyaan..
        I am buyer in Nirvana 2 villas and i can tell you that construction has picked up pace only in last couple of months. touchwood !

        I can sense activity picking up but this behaviour needs to last long to make us believe Unitech is changing for good.

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        • #5

          #5

          Re : Unitech Developers, Gurgaon

          got it...there's some speculation in the western world (if you follow financial news closely) about a private equity fund named "Blackstone" which if news are to be believed are in an active stage of doing due diligence to buy Unitech's SEZ's in Gurgaon and Noida ...for anywhere between 0.5 to 0.75 billion dollars...

          Hope they buy and more importantly hope Unitech uses the funds to re-start projects rather than launching another land buying spree..

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          • #6

            #6

            Re : Unitech Developers, Gurgaon

            Unitech has already denied this Blackstone news sometime back..

            So its was just a Rumour.

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            • #7

              #7

              Re : Unitech Developers, Gurgaon

              too bad..lets hope its the classic "denial" and something is happening in the background...all assets sales, takeovers, mergers always start with a denial...because no one wants the news to hit the market..

              maybe hoping against hope

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              • #8

                #8

                Re : Unitech Developers, Gurgaon

                Dont sound too pessimistic dear.

                Unitech is down but certainly not out. They have a big land bank to fall back on.

                Only thing is that the investors should see initiatives from unitech, demonstrating effort on its part to show progress and commitments towards finishing the projects.

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                • #9

                  #9

                  Re : Unitech Developers, Gurgaon

                  I truly hope this is true.

                  Unfortunately my personal experience suggests otherwise. I am holding a unit in Unitech Harmony in sector 50. Until a few months back, posession for my tower was supposed to be in 4Q 2012 but now it has been postponed to 3/4Q 2013.

                  Nevertheless, let us hope for the best.



                  Originally posted by GurgaonBuyer View Post
                  Spoke to someone well placed within Unitech and got to know that Unitech is working with a number of investors to sell some of the land to generate cash for 2 reasons..reduce debt and fund projects..

                  I was told that construction has picked up (probably about 50% of where it should be) for a number of projects and over Q3 if certain deals are closed, it will touch 100%...there will be delays in projects due to last 12-18 months of lull phase but things are expected to change significantly..

                  Has anyone seen any "noticeable" change or is it just a marketing gyaan..

                  Comment

                  • #10

                    #10

                    Re : Unitech Developers, Gurgaon

                    Agree..The person I spoke with mentioned 12-18 months of delay is a given because literally nothing was done over the last 12-18 months so there's going to be a cascading impact..time lost is lost...

                    The important thing is to keep a close watch over Q3/Q4 12 that some insiders are describing as the turnaround period....it seems there's a clear realisation that they have lost faith of investors, ventured into non-core business (Wireless etc.) and have little funds..and it seems now they are trying to make amends..and make a clean exit from non-core areas..Chandra's flamboyance has come at the cost of reputation...

                    Q3/Q4 progress will be the litmus test ..

                    Comment

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