UNITECH LTD. - Clarification from Unitech Ltd
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| 03 Sep 2014 | |
| The Exchange had sought clarification from Unitech Ltd with respect to the media report titled "Unitech to sell non-core assets to cut debt." , In Financial Express on September 03, 2014,<br/><br/>Unitech Ltd has replied as under:<br/><br/>"With reference to your email dated Wednesday, September 03, 2014, regarding clarification / comment on the news appearing in Financial Chronicle / Financial Express on September 03, 2014, captioned "Unitech to sell non-core land assets to cut debt", please note that this news is based on the Chairmans Message as appearing in the Annual Report of the Company (2014).<br/><br/>Further, as clarified earlier too, we would like to re-iterate that being a real estate developer, the Company, in its normal and ordinary course of business, and as a part of its continuing business strategy, buys and sells property on a regular basis. Further, as a conscious strategic decision to reduce debt exposure related risks, improve liquidity and bridge the cash flow gap, the Company has in the recent past undertaken sale of some land parcels for which it has no development plans in the foreseeable future." | |
| View all announcements for UNITECH LTD. | Source: BSE India |
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