Unitech, the second largest realtor by market capitalisation, plans to repay over Rs 1,000 crore of debt in FY11 and its main focus for the year would be Mumbai.
Sanjay Chandra, managing director, Unitech Ltd, said on the sidelines of Fitch debt market conference: Whatever surplus cash flows we book will be used for debt repayments. We are also securing our unsecured lenders and we have reduced our debt to Rs 6,200 crore.
He added: In Mumbai, we have two joint ventures totalling about 42 million sq ft. The whole idea is to make Mumbai an important part of our business. We will do mostly premium and high-end housing and some offices here, we have projects in Worli, Parel, Dadar, Juhu and Andheri.
More : dnaindia.com
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