Realty major Unitech has said it has debt of Rs 8,900 crore while its land reserves stood at 11,178.52 acres, as on March 31, 2009. Financing arrangements give lenders certain rights to determine our operations and we require their consent to undertake any major corporate actions, it said. As on March 27, Unitechs promoters had pledged 49.79% stake to banks and financial institutions, it said.
The company has deferred payment of Rs 1,647 crore due in the second half of financial year 2009 via debt restructuring, and has restructured its total debt of Rs 2,316 crore in FY09, it said.
On its operations, the company said it will sell commercial office blocks in Delhi, Kochi and Gurgaon and four hotels currently under construction in Noida, Gurgaon and Kolkata.
More : moneycontrol.com
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