final unitech

8/2/2019 Final Unitech

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-:CONTENTS:-

Sr. No. Subject Page No.

1. Executive Summary 3

2. Introduction

Company introduction

Objective of the project

4-5

3. Company history 6

4. Business areas 7

5. Vision/ mission of the company 7

6. Organization structure 8

7. Financial performance and Detailedownership structure

9-10

7. Annual turnover 10

8. Market capitalization 11

9. No. of employees 12

10. Executive profiles 13

11. Business locations 13-14

12. Joint venture 15

13. Industry profile

Real estate industry in india

Overview of Indian commercial RealEstate Sector

Existing Players in Real Estate

Industry

SWOT Analysis of commercialreal estate industry

16-21


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14. SWOT Analysis 22-23

15. Balance sheet Analysis

Balance sheet

Cash flow statement Ratio analysis

P&l account

Auditors report

Directors report

disclosures

24-58

(24-25)

(26)(27-37)

(38-39)

(40-47)

(48-58)

16. CSR activities 59

17. Mergers and acquisition 59-61

18. Conclusion 62


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EXECUTIVE SUMMARY

The project is about to understand how company manages to integrate thefunctions of various departments. It explains specifically how finance

department works in the company and what major role it plays in thefunctioning of the company. Further it describes how company manages toreduce its cost of borrowings by availing different products available withbanks. It also describes in detail how company implements and introducesvarious checks and controls for controlling its major operating costs. Thisproject also helps me understand the accounting procedures adopted bythe company. This will help in gaining knowledge about the survivingstrategy that a company may use in todays cut throat competition andcost cuttings across the board. This project enhances my skill of analyzingthe financial position of the company, by making comparative analysis of

the various expenses incurred and income earned by the company in thetwo consecutive financial years. This helps me in understanding theworking capital requirements of the company with the help of ratio analysis.It explains how company manages its working capital cycle, what itsaspects are and what the approaches to the working capital handling are.Also it describes the various factors that affect the working capital decisionsto be taken in the company and the various sources of financing workingcapital requirements. Also it includes the ratio analysis of the company withthe help of the comparative analysis of the two consecutive years. This

project further helps me in understanding the inventory management, cashmanagement, and debtors/ receivable management of the company andhow effectively they work on it. In total, the project was a great learningexperience about how a real estate concern deals with all its finances andsystems.


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INTRODUCTION

Unitech Group is Indias second largest diversified real estate major withover 30 years of presence across locations nationwide. Unitech comes intothis joint venture as a partner with decades of consumer facing experiencein the Indian market, bringing with it deep insights into business as well asconsumer marketing in the diverse Indian market. The company alsofeatures in the National Stock Exchanges bell weather S&P CNX NiftyIndex.

Established in 1971 by a group of technocrats led by Mr. Ramesh Chandra,Unitech has over the last three and a half decades emerged as one of the

leading business houses in India. Apart from the flagship business of realestate development, the group has interests in varied businesses such asfund management and infrastructure development. With Unitech Wirelessthe group extends its reach into the mobile telecom business.

The group's flagship company Unitech Limited is a leading real estatedeveloper in India with projects in all major cities. It has been at theforefront of the rapid transformation of Indian real estate sector in recentyears.

Unitech has the most diversified product mix comprising residential and

retail properties, commercial/Information Technology (IT) parks, Hotels,Amusement Parks and Special Economic Zone.

Unitech is one of the most liquid stocks in the Indian stock markets andwas the first real estate company to be part of the National StockExchanges NIFTY 50 Index. Unitech Ltd. has over 600,000 shareholders.


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OBJECTIVE OF THE PROJECT

The objective of the project is to understand and learn the work process offinance and accounts department in unites corporate parks plc. And to

enhance my knowledge with a detailed study and, To understand the major functions of finance & accounts department.

To know the flow of work process through which these functions arecarried out efficiently.

To understand the basics of finance & internal controls for a realestate concern.

To understand the basics as to how a company can reduce its cost ofborrowings by availing different products available for banks

To understand the accounting procedures & implementing variouschecks & controls for operating costs.

To study the fundamental analysis. To study real estate industry and its impact on Indian economy.

Apart from this we intend to create a virtual portfolio for long term and shortterm Investors. Although the functions of the finance and accountsdepartment have been explained with respect to unites in general, theproject primarily covers in depth the various cost cutting efforts of thecompany. The focus has been on working capital management, inventorymanagement, and receivable management.


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HISTORY

2010-Launch of unites Infra

2009-Investment by Telenor in to telecom business in Launch of servicesUnder Uniron Brand

2008-Forays into Telecom- Expanded into the Mumbai market

2007- Commenced operations in UAE (Dubai)- Awarded title of Super brand by Super brand India

2006- Won biggest land deal in India, 343 acres of prime land in Noida- Awarded Chandigarh Amusement Park project

2005- Entered Kolkata- Awarded the title of Business Super brand

2004 - Expanded into Greater Noida, U.P

2003- Launched the first mega residential project, Uniworld City in Gurgaon- Entered Noida, U.P

1998 - Awarded the ISO 9002 certification

1996 - Constructed the Radisson Hotel, Delhi

1992 - Consolidated in Gurgaon with South City-I

1988 - Entered Bangalore

1987 - Entered Luck now and Mumbai

1986 - Ventured into real estate and started shaping Gurgaon, Haryana

1978 - First international project in Iraq and Libya

1975 - Diversified into construction

1972 - Started out as a company dealing in soil mechanic


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BUSINESS AREAS

In a short span of time, Unites has carved a special niche for itself in thereal state sector of the country. Apart from its residential and commercialhousing projects, Unites is also involved in the construction of flyovers,highways, city roads, power houses, refineries, transmission lines, airports,educational institutions, hotels, hospitals etc. It is also the leader in thedomain of building amusement parks in and around Delhi. In merely 30years of its existence, Unites has diversified in various sectors successfully.

VISION

To be Indias leading Real Estate company with a Pan-India Footprint, andbe the company of first choice amongst our customers to address theirneeds across all realty verticals.

MISSION

To satisfy every customer need for a better experience through qualityconstruction and employee contentment. Unites has a well-managedarchitectural and engineering team that has closely partnered andworked with internationally acclaimed architects and many others, toachieve both aesthetic and efficient designs. We are a customer orientedcompany and we believe in putting in our best foot forward in our journey to

the pinnacle.


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ORGANITONAL STRUCTURE


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ANNUAL PERFORMANCE

Mar ' 11 Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07

Sales 1,805.85 1,937.50 1,852.25 2,802.27 2,503.97

Operating profit 701.24 782.52 1,049.34 1,565.08 1,412.46

Interest 328.67 345.35 685.32 358.44 158.76

Gross profit 734.85 721.38 966.68 1,374.09 1,349.37

EPS (Rest) 1.95 2.23 4.56 6.35 12.12


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OWNERSHIP STRUCTURE

Category 31 Mar 2011 30 Jun 2011

Promoter &PromoterGroup 48.57 48.57

Indian 48.43 48.43

Foreign 0.15 0.15

PublicShareholding 51.43 51.43

Institutions 34.63 33.40

Non-Institutions 16.79 18.02

ADR's/GDR's& Others 0.00 0.00

Total: 100 100

ANNUAL TURNOVER

Unitech is a Private Sector Organisation that offers services in

Construction / Real Estate / Infrastructure with Annual Total Turnover of

1000-2500 Crs.


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MARKET CAPITALIZATION

BSE: 507878 | NSE: UNITECH

BSE NSE

Open 19.50 19.60

Day High 20.05 20.10

Day Low 19.30 19.30

PreviousClose

19.45 19.45

52-Week high 68.05 68.00

52-Week low 17.45 17.45

P/E 12.83 12.83

MarketCap(Restcry)

5193.36 5193.36

Volume 2889644.00 17067576

Peer Group

CompanyLast(Rest)

MT Cap(Rest cry)

Jayvee Ingrate.36.65 5090

JP Associates 53.65 11408

H D I L 57.35 2380

DLF 193.95 32925

IRB Infra.Devl. 139.75 4645

Oberon Realty 205.10 6732

D B Realty 48.15 1171

Indbull.RealEstate.

48.80 1966

(Source: BSE)
http://business-standard.com/stockpage/stock_details.php?bs_code=11866http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=10661http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11342http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11328http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11477http://business-standard.com/stockpage/stock_details.php?bs_code=11477http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11955http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11807http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11269http://business-standard.com/stockpage/stock_details.php?bs_code=11269http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11269http://business-standard.com/stockpage/stock_details.php?bs_code=11269http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11807http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11955http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11477http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11328http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11342http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=10661http://business-standard.com/stockpage/stock_details.php?bs_code=1778http://business-standard.com/stockpage/stock_details.php?bs_code=11866


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NO. OF EMPLOYEES

Unitech Group

Type Public

Industry Construction, Real Estate, Wireless

Founded 1972 as United Technical Consultant Private Ltd

Founder(s) Ramesh Chandra, Dr. SP. Shrivastava, Dr. PK Mohant

Dr. Ramesh Kapur and Dr. Bahri

Headquarters New Delhi,India

Key people Ramesh Chandra, executive chairman

Revenue US$760 million (2008)[1]

Net income US$300 million (2008)[1]

Total assets US$3.03 billion (2008)

[1]

Employees ~ 967[2]

Website unitechgroup.com
http://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Ramesh_Chandrahttp://en.wikipedia.org/wiki/Ramesh_Chandrahttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Ramesh_Chandrahttp://en.wikipedia.org/wiki/Ramesh_Chandrahttp://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Assethttp://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/Unitech_Group#cite_note-1http://en.wikipedia.org/wiki/Unitech_Group#cite_note-1http://www.unitechgroup.com/http://en.wikipedia.org/wiki/File:Unitech_logo.svghttp://www.unitechgroup.com/http://en.wikipedia.org/wiki/Unitech_Group#cite_note-1http://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/Assethttp://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/Unitech_Group#cite_note-forbes-0http://en.wikipedia.org/wiki/United_States_Dollarhttp://en.wikipedia.org/wiki/Ramesh_Chandrahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/New_Delhihttp://en.wikipedia.org/wiki/Ramesh_Chandrahttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Types_of_business_entity


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EXECUTIVE PROFILES

Name Designation

Ajay Chandra CEOAjay Chandra Managing DirectorAnil Harish Non-Executive DirectorDeepak Jain Company Secretary & Compliance OfficerDeepak Jain SecretaryG R Ambwani Non-Executive DirectorManoj Popli Chief Financial OfficerMinoti Bahri Non-Executive Director

P K Mohanty Non-Executive DirectorRamesh Chandra Executive ChairmanRavinder Singhania Non-Executive DirectorSanjay Bahadur Non-Executive DirectorSanjay Chandra Managing Director

BUSINESS LOCATIONS

UNITECH was originated in Bergen, Norway, in 1984. UNITECH has growndramatically by expanding to locations all over the world including Europe,Bergen, Singapore, and dussel ford, Perth, Houston, Asia and the UnitedStates. By doing so, UNITECH is able to offer our customers 24 hourscustomer support worldwide. Its construction business includes highways,roads, powerhouses, transmission lines, and it has residential projects

called Unitech Cities/Uni World, in cities like Mumbai, Delhi, Kolkata,Chennai,Hyderabad,Bangalore,Kochi,Noida,GreaterNoida,Agra,Lucknow,Varanasi, Gurgaon, and Ghaziabad.


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JOINT VENTURE

Unitech, a real estate company has a joint venture with uninor a

telecommunications company headquartered inOslo,Norway; Telenorowns a controlling majority stake in the company (67.25%), which has been

branded Uninor in the Indian market... In August 2009, it secured a 50

billion rupee ($1 billion) loan fromState Bank of India(SBI.BO) to fund its

mobile phone network rollout.
http://en.wikipedia.org/wiki/Oslohttp://en.wikipedia.org/wiki/Oslohttp://en.wikipedia.org/wiki/Oslohttp://en.wikipedia.org/wiki/Norwayhttp://en.wikipedia.org/wiki/Norwayhttp://en.wikipedia.org/wiki/Norwayhttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Norwayhttp://en.wikipedia.org/wiki/Oslo


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INDUSTRY PROFILE

Real Estate Industry in India:

The Real Estate industry in the recent past has been synonym to success.The Real Estate industry has been growing in the tough times and

supported the Indian economy to an extent that it today alone stands at the

second position in Indian Economy. With large revenue of twelve million

dollars the Real Estate industry today is estimated to further expand at the

rate of thirty percent per annum. With such huge growth facts and figures,

the Real Estate Industry has now become a hub for all the aspiring

professionals and attracts a large investment either long term or short term.

The Real state sector offers various services to the clients and to otherindustries that revolve around the property. It seems to be have not

possible if with the out the Real Estate sector that we could enjoy the lavish

apartments and excellent buildings for the various income groups that we

notice walking down the street today. It is further the bless of the Real

Estate Industry that we enjoy such marvelous Infrastructure, as the

Infrastructure and the Real Estate Industry goes hand in hand making the

present India a viable destination for growth and prospects of growth. The

Real Estate Industry being the second largest industry in the Indian

economy salutes and grants an equal share of importance to the related

industries who have contributed in the making the Real Estate industry a

promising industry for the Indian Economy to Rely on. Hence all the aligned

industries like Interior Designing, Architecture, Builders, Manufacturers and

other related fields are granted an equal importance and respect while one

can talk about the Real Estate sector alone. The Real Estate industry has

contributed to the growth of the Indian economy without any doubt but on

the same hand they have also contributed to the growth of an individual by

supporting them with the excellent jobs in the sector and prompting the

knowledge and expertise of the 5 existing key players in the market. Hence

the Real Estate industry has played a dual role in the growth factor as well

apart from maintaining a large growth and development rate of India. It is

the real Estate Industry that has shaped previous India to a new aged

modern India providing excellent facility with the high technology


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mechanism with the vision of growth of the sector with the growth of India.

Today we find various sectors associating with the Real Estate that

are partly or completely responsible to work hand in hand with the Real

Estate industry. To conclude one can say that the Real Estate industry is

blessed in the modern age to not only the human kind but also to thenation. With tremendous growth and development it has signified itself to

be a potential sector that can grow and provide support to one and all with

the services and development in various methods and factors. The Real

Estate industry aiming to gain the top position would develop in the future

economy time with aim to provide home by 2020, which is also now an aim

for largest yearlong festival of Real Estate, The Real India Fest. Real estate

is a business, not a profession. Real estate is sometimes inaccurately

spoken of as a profession, but it is essentially a business. A professionapplies science, art or learning to the use of others, the profit to the

professor or person applying it being incidental; whereas a business is

engaged in primarily for profit, and the profit is to the one engaging in

the business. The Indian economy is steadily moving forward on its path to

prosperity with economic development being the focal point of the

progress. In the post liberalization era, India has attracted huge quantum of

foreign direct investment on account of its excellent economic performance

and recently real estate sector has also been deregulated and liberalized.

Today India is seen as a prime destination for investment by overseas

investors across the board. India's favorable demographic and economic

scenario makes it an attractive destination for the real estate investors. The

current urbanization level at around 30% and provision of urban amenities

highlights the strong future potential for growth of real estate and

construction. The Indian real estate industry is currently estimated to be

US$16 billion, with a CAGR of 30per cent. Real estate and construction is

emerging as a prominent sector for FDI investment in India. The total FDI

inflow in real estate sector for FY2008 was US$1,866 million led by

aggressive FDI investments in retail projects, hospitality and SEZs

including roads and highways.

Commercial real estate is property used solely for business purposes.Office buildings, malls, industrial parks, hotels, convenience stores,


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apartment complexes and gas stations are all examples of commercial realestate.

Overview of Indian commercial Real Estate Sector:

Top real estate developers are interested in to invest in Indian commercialreal estate, targeting the requirements of the high growth Indian IT and ITEnabled Services (IT/ITES) sectors. The Company is focused oninvestment in Special Economic Zones (SEZs) dedicated to the IT/ITESindustries or IT Parks which are suitable for foreign direct investment.These SEZs cater primarily to outsourced IT/ITES needs of large globalcompanies. Given the challenging economic environment most of these

companies face, the outsourcing of IT/ITES has slowed down considerably.Indian software services companies as well as the IT divisions of globalcompanies, who are real estate developers prime tenants, havesignificantly scaled back expansion/outsourcing plans. This has adverselyimpacted demand for commercial real estate that real estate companiesare building. Whilst the rate of decline in GDP in the developed economiesis showing signs of leveling off, target clients of the Company have yet totranslate this in tore commencement of their outsourcing plans. Aprotectionist environment in most developed nations of the world that has

taken hold over the last year or so given the levels of unemployment. Theprimary growth driver of commercial real estate is the IT/ITES sector, whichis growing at25 - 30per cent annually. Indias IT/ITES industry is expectedto grow to US$148 billion by2012 which translates into in excess of250 million sq. ft. of commercial office space requirement by 2012 - 13.Asper 2006 McKinsey-NASSCOM report, 18-20% of all IT demand is directedtowards the NCR(National Capital Region). Nearly 75% of office space inthe NCR is occupied by IT/ITES firms


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Existing Players in Real Estate Industry:

Structure:

Real estate is a highly fragmented sector with only a few organized players.Most real estate developers have only a local or regional presence andthere is moderate participation from large corporations till now.Followings are the existing players in the Indian real estate industry.

(1) KOLTE PATIL DEV.(2) ORBIT CORPORATION(3) PENINSULA LAND(4) ACKRUTI CITY(5) HDIL(6) ANSAL PROPERTIES(7) PARSVNATH DEVELOPERS(8) ANANT RAJ INDUSTRY(9) OMAXE(10) DLF(11) UNITECH(12) PHOENIX MILLS(13) GMR INFRASTRUCTURE

SWOT ANALYSIS OF COMMERCIAL REAL ESTATE INDUSTRY

Study of the factors which may have an impact on business or industryeither in a positive or in a negative way.

STRENGTH

Employment and training opportunities in the field of construction.

Private sector housing boom and commercial building demands. Construction of the multi building projects on the feasible locations in

the country.


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Good structured national network facilitates the boom of constructionindustry.

Low cost well- educated and skilled labor force is now widelyavailable across the country.

Sufficient availability of raw material and natural resources in thecountry is supportive for the industry.

WEAKNESSES

Distance between construction projects reduces business efficiency.

Training itself has become a challenge.

Changing skills requirements and an ageing workforce mayaccentuate the skills gap.

Improve in long-term career prospects is highly required to encouragestaff retention and new entrants.

External allocation of large contracts becomes difficult.

Lack of clearly define processes and procedures for construction and

its management.

Huge amount of money need to be invested in this industry andtowards construction.

OPPORTUNITIES

Continuous growth in IT/ITES sector or IT Parks for foreign directinvestment will create more construction opportunities.

Developing supply chain through involvement in large projects islikely to enhance the chances in construction.


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Public sector projects through Public Private Partnerships will bringfurther opportunities.

Renewable energy projects will offer opportunities to develop skillsand capacity in new markets.

Financial supports like loan and insurance and growth in income ofpeople is in support of construction industry.

Remote areas in the country are easily accessible and plenty of land isavailable in the country.

THREATS

Long term market instability and uncertainty may damage theopportunities and prevent the expansion of training and developmentfacilities.

Current economic situation may have an adverse impact onconstruction industry.

Political and security conditions in the region and Late legislativeenforcement measures are always threats to any industry in India.

Infrastructure safety is a challenging task in construction industry.

Lack of political willingness and support on promoting new strategies

Natural abnormal casualties such as earth quake and floods areuncertain and can prevent the construction boom. Inefficient

accessibility in planning and concerning the infrastructure and signs.

Competitors are emerging in the industry by leaps and bounds


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SWOT ANALYSIS

STRENGTHS

UCP plc. has a very good market share of about 54%

Brand Value

Huge supplier base ensures a fixed raw material cost

A well established and firm base in north India

WEAKNESS

Little or no projects in the other parts of India

No parallel products to support during times of bad economy

OPPORTUNITIES

Expansion of business in other parts of India

It can invest more in Power generation projects like Hydroelectric or

Wind power

Investment in raw material - Backward Vertical Integration

THREATS


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THREATS OF NEW ENTRANTS

Decrease in profitability due to increase in number of entrants.

Real Estate Sector needs high working capital.

This results in high entry barriers.

Existing firm has an edge over the others due to more industrialexperience

THREATS OF ESTABLISHED RIVALS

High competition in the sector.

Established rivals are a threat to upcoming players.

DLF ,Unitech and Ansals are the major players in this sector


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BALANCE SHEET

(in crs.)


Sources of funds

Owner's fund

Equity share capital 523.26 487.76 324.68 324.68 162.34

Share application money - 225.20 - - -

Preference share capital - - - - -

Reserves & surplus 8,758.61 7,415.47 2,534.89 1,819.14 998.66

Loan funds

Secured loans 3,566.83 3,907.54 5,931.02 5,506.45 2,839.67

Unsecured loans 2,002.24 1,016.02 1,747.98 2,611.08 765.39

Total 14,850.93 13,051.99 10,538.56 10,261.35 4,766.06

Uses of funds

Fixed assets

Gross block 154.27 151.09 148.63 132.05 99.87

Less : revaluation reserve - - - - -

Less : accumulated depreciation 49.78 44.03 40.79 35.96 30.24

Net block 104.49 107.07 107.84 96.08 69.63


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Capital work-in-progress 10,870.28 9,666.03 8,688.46 7,083.41 4,408.59

Investments 2,054.02 1,654.15 1,954.94 1,397.99 518.93

Net current assets

Current assets, loans & advances 9,827.59 8,650.68 6,396.36 8,749.17 4,017.01

Less : current liabilities & provisions 8,005.45 7,025.94 6,609.04 7,065.30 4,248.10

Total net current assets 1,822.14 1,624.75 -212.67 1,683.87 -231.08

Miscellaneous expenses not written - - - - -

Total 14,850.93 13,051.99 10,538.56 10,261.35 4,766.06

Notes:

Book value of unquoted investments 2,054.12 1,652.62 1,953.41 1,396.47 301.22

Market value of quoted investments 1.44 0.01 0.01 0.02 0.02

Contingent liabilities 1,805.68 1,649.94 4,227.29 2,325.69 1,640.51

Number of equity sharesoutstanding (Lacs) 26163.01 24388.01 16233.75 16233.75 8116.88


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CASH FLOW


Profit before tax 728.17 715.44 956.64 1,365.51 1,344.83

Net cashflow-operating activity -927.13 -2,706.17 826.31 -3,686.44 -1,755.68

Net cash used in investing activity -71.14 249.96 -42.41 -771.21 -117.32

Netcash used in fin. activity 1,054.09 2,562.48 -1,051.93 4,033.01 2,508.19

Net inc/dec in cash and equivlnt 55.83 106.28 -268.03 -424.64 635.19

Cash and equivalnt begin of year 209.43 103.15 371.18 795.82 160.63

Cash and equivalnt end of year 265.26 209.43 103.15 371.18 795.82


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RATIOS


Per share ratios

Adjusted EPS (Rs) 0.22 2.14 4.36 4.17 11.01

Adjusted cash EPS (Rs) 0.24 2.16 4.42 4.22 11.07

Reported EPS (Rs) 1.95 2.23 4.56 6.35 12.12

Reported cash EPS (Rs) 1.98 2.26 4.62 6.40 12.17

Dividend per share 0.10 0.20 0.10 0.25 0.50

Operating profit per share (Rs) 0.90 2.86 6.18 7.92 17.10

Book value (excl rev res) per share (Rs) 35.48 32.41 17.61 13.21 14.30

Book value (incl rev res) per share (Rs.) 35.48 32.41 17.61 13.21 14.30

Net operating income per share (Rs) 5.12 7.58 10.89 15.32 30.08

Free reserves per share (Rs) 32.35 27.08 11.67 10.42 10.28

Profitability ratios

Operating margin (%) 17.68 37.75 56.73 51.67 56.83

Gross profit margin (%) 17.19 37.43 56.16 51.33 56.64

Net profit margin (%) 29.72 24.77 30.54 39.41 39.22

Adjusted cash margin (%) 3.80 24.01 29.65 26.20 35.82


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Adjusted return on net worth (%) 0.63 6.59 24.76 31.56 76.98

Reported return on net worth (%) 5.49 6.88 25.86 48.07 84.71

Return on long term funds (%) 4.16 8.26 17.13 16.09 30.56

Leverage ratios

Long term debt / Equity 0.56 0.59 2.36 3.07 3.08

Total debt/equity 0.59 0.62 2.69 3.79 3.11

Owners fund as % of total source 62.50 61.61 27.13 20.89 24.35

Fixed assets turnover ratio 8.69 12.24 11.89 18.83 24.45

Liquidity ratios

Current ratio 1.23 1.23 0.96 1.24 0.94

Current ratio (inc. st loans) 1.18 1.19 0.84 1.02 0.93

Quick ratio 1.23 1.23 0.96 1.24 0.93

Inventory turnover ratio 721.40 878.20 279.75 262.76 85.69

Payout ratios

Dividend payout ratio (net profit) 5.96 10.44 3.23 4.60 4.82

Dividend payout ratio (cash profit) 5.88 10.33 3.19 4.56 4.80

Earning retention ratio 48.13 89.10 96.63 92.99 94.69


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Cash earnings retention ratio 53.44 89.22 96.67 93.08 94.72

Coverage ratios

Adjusted cash flow time total debt 85.29 9.33 10.69 11.85 4.01

Financial charges coverage ratio 1.86 3.02 2.29 3.59 7.50

Fin. charges cov.ratio (post tax) 2.57 2.59 2.04 3.64 6.10

Component ratios

Material cost component (% earnings) 0.59 2.90 1.17 1.06 3.29

Selling cost Component 0.42 0.77 0.92 0.47 0.53

Exports as percent of total sales 0.38 1.37 0.09 - 0.08

Import comp. in raw mat. Consumed - - - - -

Long term assets / total Assets 0.57 0.56 0.62 0.49 0.55

Bonus component in equity capital (%) 60.45 64.85 51.27 51.27 2.54


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WORKING CAPITAL ANALYSIS

Concept of working capital has its own importance in a going concern in the

smooth running of a business. It is useful both for the financial

management and for the executives of an undertaking. Usually, the workingcapital balance of a going concern has a positive value but often the uses

of working capital exceed the sources of working capital. In efficiently,

managed companies, such deficits are soon offset by gain in the following

periods. A study of the causes of changes in the uses and sources of

working capital is necessary to observe whether working capital is serving

the purpose for which it has been created or not. This involves the basic

approach to working capital analysis. The analysis of working capital can

be made either through

1. Ratio Analysis

2. Fund Flow Analysis

The ratio analysis of working capital helps the management in checkingupon the efficiency for which the working capital is being used in the

business.The important ratios are:

A. Debt- Equity Ratio- It is the ratio between the debt and equity. It explains what is the ratio ofdebt and equity in the companys capital.

DebtDebt Equity Ratio = --------------------------Equity


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B. Current Ratio

It is the ratio between the current asset and current liabilities. It measuresthe ability for the company to pay its short-term debts.

Current AssetsCurrent Ratio = ---------------------------

Current Liabilities

C. Acid Test Ratio

It is the ratio between the quick asset and current liabilities. It promisesstrong financial position.

Liquid AssetsAcid test ratio = ---------------------------

Current Liabilities

D. Cash Ratio

It is the ratio between current asset and cash. It promises availability ofcash to meet day-to-day requirements. Higher ratio shows idleness of fund.

E. Ratio of Current Liabilities to Tangible Assets

The ratio is the relation between the current liabilities to the total net worthof the company. This shows a comparison between funds contributed bythe short-term creditors and those contributed by owners.


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The Return on Capital Employed is fluctuating in nature. This isunfavorable for Companys image as it may result in decrease in theconfidence among the investors about the companys performance, asinvestors invest in those companies which more often have a constantROCE or whose ROCE keeps on increasing. The company should takemeasures to improve it's Return on Capital Employed, so that the investorsand the shareholders regain the confidence in the company

WORKING CAPITAL ANALYSIS AT Unitech Corporate ParksPLC

CURRENT RATIO

It measures the short term solvency of the firm, its ability to meet short termobligations which indicate the rupees of current assets available for eachrupee of the current liability. It is a margin of safety for creditors. Thecurrent ratio of 2:1 has been considered satisfactory. The Industry does notmaintain the ideal 2:1 ratio because it is a high investment sector and

majorly works with loans and debts.

QUICK RATIO

Quick Assets: includes all current assets other than stock and prepaid

expenses.

It is widely available test of measure of liquidity position of the firm. It issuperior to the current ratio test .The Quick Ratio of 1:1 is considered to besatisfactory as a firm can easily meet all current claims. While calculating it,prepaid expenses and inventory are excluded from current assets. TheIndustry does not maintain the ideal 1:1 ratio because it is a high


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investment sector and majorly works with loans and debts. However duringthe peak period it reached near to the desired.

CASH RATIO

The Industry does not maintain a high ratio because it is a high investmentsector and majorly works with loans and debts.

PROFITABILITY RATIOS

GROSS PROFIT RATIO

It measures the percentage of each sales rupee remaining after the firmhas paid for its goods. The Gross profit increased due to the decrease inthe raw materials and Manufacturing expenses.

OPERATING PROFIT RATIO

The operating Expenses does not change significantly hence it follows asame trend as Gross profit

RETURN ON INVESTMENT RATIO

Initially, the company had a low ROI, but later on the ROI kept onincreasing and later on it felt to 25%, meaning that the return on investmentis decreasing when compared to the previous years. So the investors mightlook out for an opportunity to invest in other stocks. During the Boom in thereal estate market, Unitech gave a very high return on Investment, but withthe slowdown hitting the Indian Economy, the ROI fell down tremendously.


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RETURN ON CAPITAL EMPLOYED

The Return on Capital Employed is fluctuating in nature. This is

unfavorable for Companys image as it may result in decrease in theconfidence among the investors about the companys performance, asinvestors invest in those companies which more often have a constantROCE or whose ROCE keeps on increasing. The company should takemeasures to improve it's Return on Capital Employed, so that the investorsand the shareholders regain the confidence in the company.

NET PROFIT TO NET WORTH

This ratio is used to analyze the ability of the firm's management to realizean adequate return on the capital invested by the owners of the firm.Tendency is to look increasingly to this ratio as a final criterion ofprofitability. With the slowdown in the real estate market, the net profits ofthe company have fallen. The Net Worth of the company has risentremendously but the profits of the company have not increased in lineswith the Net worth and hence the ratio has fallen.

EARNING PER SHARE

EPS shows the portion of company's profit allocated to each outstandingshare of common stock. It is the Indicator of companys profitabilityand Stock split.


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DIVIDEND PER SHARE

62 DPS shows how much the shareholders were actually paid by way ofdividends. Like EPS, there is a constant decrease in DPS over the years.

DPS shows how much the shareholders were actually paid by way ofdividends. Like EPS, there is a constant decrease in DPS over the years.

DIVIDEND PAYOUT RATIO

It measures the relationship between the earning belonging to the ordinaryshareholders and the dividend paid to them.

RETENTION RATIO

Retention Ratio indicates what percentage share of the net profits isretained in the business.

DIVIDEND YIELD RATIO

A financial ratio that shows how much a company pays out in dividendseach year relative to its share price. Dividend Yield Ratio has almostreached zero in the later years.

TURNOVER RATIOS

INVENTORY TURNOVER RATIOS

Stock turn over ratio / Inventory turn over ratio indicates the number of timethe stock has been turned over during the period and evaluates theefficiency with which a firm is able to manage its inventory. The InventoryT/o Ratio has increased from 16 to 57 in the given period. This is largelydue to decrease in the inventory level of the company


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DEBTORS TURNOVER RATIOS

Debtors turnover ratio or accounts receivable turnover ratio indicates thevelocity of debt collection of a firm. The Debtors T/o Ratio has gone downconsiderably which is not good. A high Debtors T/o Ratio reflects the

liquidity position of a company to meet its short term obligations.

WORKING CAPITAL TURNOVER RATIO

Negative working capital means that a company currently isunable to meet its short-term liabilities with its current assets In the realestate companies, products are delivered and sold to the customer beforethe company ever pays for them and hence these companies do not feelthe need to maintain huge Current Assets. Only in the year, 2008 thecompany had a positive working capital as the company had generatedhuge current assets from selling it's products.

CAPITAL TURNOVER RATIO

Capital turnover is used to calculate the rate of return on common equity,and is a measure of how well a company uses its stockholders' equityto generate revenue. The higher the ratio is, the more efficiently a companyis using its capital. As the ratio is falling in the years, the companyis becoming less efficient. It might lead to the outflow of the investors fundsfrom the company.


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SOLVENCY RATIO

DEBT TO EQUITY RATIO

It Indicates the relative proportions of debt and equity in financingthe assets of the firm, Largely financed by the creditors of the firm, Capitalintensive in nature and New strategy adopted to tackle high debt.

PROPRIETARY RATIO (%)

It Indicates to what extent of the total assets is financed throughthe owners capital This ratio does not give a good picture .Highlydependent on external funding.

CAPITAL GEARING RATIO (%)

It shows the relationship between equity share capital including reserves

and surpluses to preference share capital and other fixed interest bearingloans. Company is highly geared have Burden of interest andloan repayment and Might have problems getting loans in the future.


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PROFIT AND LOSS ACCOUNT


Income

Operating income 1,340.41 1,849.49 1,767.27 2,486.79 2,441.74

Expenses

Material consumed 3.92 58.45 23.87 45.57 78.97

Manufacturing expenses 884.14 920.51 568.06 981.25 853.98

Personnel expenses 115.41 93.18 106.44 98.43 65.62

Selling expenses 5.70 14.37 16.41 11.90 13.13

Adminstrative expenses 94.14 64.70 49.83 64.51 42.35

Expenses capitalised - - - - -

Cost of sales 1,103.31 1,151.22 764.62 1,201.68 1,054.04

Operating profit 237.10 698.28 1,002.64 1,285.11 1,387.69

Other recurring income 375.50 347.08 654.53 128.40 65.66

Adjusted PBDIT 612.60 1,045.36 1,657.17 1,413.51 1,453.35

Financial expenses 329.21 346.70 722.12 393.38 193.71

Depreciation 6.68 5.95 10.04 8.58 4.54


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Other write offs - - - - -

Adjusted PBT 276.71 692.71 925.01 1,011.55 1,255.11

Tax charges 218.09 171.13 216.98 334.83 361.27

Adjusted PAT 58.62 521.58 708.03 676.72 893.84

Non recurring items 451.46 22.72 31.63 353.96 89.72

Other non cash adjustments -1.84 -18.83 - -0.38 0.44

Reported net profit 508.24 525.47 739.66 1,030.30 984.00

Earnigs before

appropriation 2,343.11 2,062.25 2,133.69 1,464.51 1,119.29

Equity dividend 26.16 48.78 20.44 40.58 40.58

Preference dividend - - - - -

Dividend tax 4.24 8.10 3.47 6.90 6.90

Retained earnings 2,312.70 2,005.37 2,109.77 1,417.03 1,071.81


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AUDITORS REPORT

Year End : Mar '11

1. We have audited the attached Balance Sheet of Unitech Limited (the''Company'') as at 31st March 2011, the Profit and Loss Account and alsothe Cash Flow Statement for the year ended on that date annexedthereto, in which are incorporated the unaudited returns of LibyaBranch (the ''Branch'') (refer Note No. 2 of Schedule 16). Thesefinancial statements are the responsibility of the company''smanagement. Our responsibility is to express an opinion on thesefinancial statements based on our audit.

2. We conducted our audit in accordance with the auditing standards

generally accepted in India. Those Standards require that we plan andperform the audit to obtain reasonable assurance about whether thefinancial statements are free of material misstatement. An auditincludes examining, on a test basis, evidence supporting the amountsand disclosures in the financial statements. An audit also includesassessing the accounting principles used and significant estimates madeby management, as well as evaluating the overall financial statementpresentation. We believe that our audit provides a reasonable basisfor our opinion.

3. As required by the Companies (Auditor''s Report) Order, 2003 (''theorder''), issued by the Central Government of India in terms ofsub-section (4A) of section 227 of the Companies Act, 1956 (''the Act''),we enclose in the Annexure a statement on the matters specified inparagraphs 4 and 5 of the said Order except in respect of the Branch.

4. Further to our comments in the Annexure referred to above, we reportthat:

(i) We have obtained all the information and explanations, which to thebest of our knowledge and belief were necessary for the purposes of ouraudit.

(ii) In our opinion, proper books of account as required by law havebeen kept by the company so far as appears from our examination ofthose books and proper unaudited returns received by us from the Branch


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not visited by us.

(iii) The Balance Sheet, Profit and Loss Account and Cash FlowStatement dealt with by this report are in agreement with the books ofaccount and with the unaudited returns from the branch.

(iv) In our opinion, the Balance Sheet, Profit and Loss Account andCash Flow Statement dealt with by this report comply with theaccounting standards referred to in sub-section (3C) of section 211 ofthe Act.

(v) On the basis of written representations received from thedirectors, as on 31st March, 2011 and taken on record by the Board ofDirectors, we report that none of the directors is disqualified as on

31st March, 2011 from being appointed as a director in terms of clause(g) of sub-section (1) of Section 274 of the Act.

(vi) Without qualifying our opinion, we draw attention to (a) Note No.2 of Schedule 16 regarding the Branch and consequential loss thereof,if any; (b) Note No. 15 of Schedule 16 regarding advances againstprojects pending commencement, though unsecured and unconfirmed, areconsidered good by the management and we have relied on managementcontention; (c) Note No. 16 of Schedule 16 regarding Advancesrecoverable, though unsecured and unconfirmed, are considered good bythe management and we have relied on management contention.

(vii) In our opinion and to the best of our information and accordingto the explanations given to us, the said financial statements togetherwith the notes thereon and schedules 1 to 16, give the informationrequired by the Act, in the manner so required and give a true and fairview in conformity with the accounting principles generally accepted inIndia:

(a) In the case of the Balance Sheet, of the state of affairs of theCompany as at 31st March, 2011;

(b) In the case of the Profit and Loss Account, of the Profit of theCompany for the year ended on that date; and

(c) In the case of the Cash Flow Statement, of the cash flows for the


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year ended on that date.

ANNEXURE TO THE AUDITORS'' REPORT(Referred to in Paragraph 3 of the Auditors'' Report of even date to themembers of Unitech Limited on the financial statements for the yearended 31st March, 2011)

In terms of information and explanations given to us and the books andrecords examined by us, we report that:

(i) In respect of its fixed assets:

a. The Company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

b. The fixed assets are physically verified by the managementaccording to a phased programme designed to cover all the items over aperiod of three years which in our opinion is reasonable having regardto the size of the Company and the nature of its assets. Pursuant tothis programme, certain fixed assets were physically verified by themanagement during the year and no material discrepancies were noticedon such verification.

c. Fixed Assets disposed off during the year were not substantial andtherefore, do not affect the going concern assumption.

(ii) In respect of its inventories:

a. The inventories also include Project in Progress. The procedures ofphysical verification of the above in phased manner followed by themanagement are reasonable and adequate in relation to the size of theCompany and the nature of its business.

b. The procedures of physical verification of inventories followed bythe management are reasonable and adequate in relation to the size ofthe company and the nature of its business.

c. In our opinion, the Company is maintaining proper records ofinventory. The discrepancies noticed on physical verification ofinventory as compared to the book records were not material.


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(iii) The Company has not granted any loans secured or unsecured tocompanies, firms or the other parties covered in the registermaintained under section 301 of the Act. Therefore, the provisions ofparagraph 4(iii)(b), (c) & (d) are not applicable. During the year theCompany has taken unsecured loan from one company covered in theregister maintained under section 301 of the Companies Act, 1956. Themaximum amount involved during the year was Rs. 259.75 Crores and theyear end balance of loan taken was Rs. 10.60 Crores. In our opinion,the rate of interest and other terms and conditions on which loans havebeen taken from company, listed in the register maintained undersection 301 of the Companies Act, 1956 are not prima facie, prejudicialto the interest of the Company. Further, the company is regular inrepaying the principal amounts as stipulated and has been regular in

the payment of interest.

(iv) In our opinion and according to the information and explanationsgiven to us, there are adequate internal control procedurescommensurate with the size of the company and nature of its businesswith regard to purchases of inventory, fixed assets and with regard tothe sale of goods and services. During the course of our audit, we havenot observed any continuing failure to correct major weaknesses ininternal control system of the company.

(v) a. According to the information and explanations given to us, weare of the opinion that the particulars of all contracts orarrangements that need to be entered into the register maintained underSection 301 of the Act, have been so entered.

b. In our opinion and according to the information and explanationsgiven to us, the transactions made in pursuance of contracts orarrangements entered in the register maintained under section 301 ofthe Act, and exceeding the value of Rs. 5 lakhs in respect of any party

during the year have been made at prices which are reasonable havingregard to prevailing market prices at the relevant time.

(vi) In our opinion and according to the information and explanationsgiven to us, the Company has generally complied with the provisions ofSections 58A & 58AA and other relevant provisions of the Act and theCompanies (Acceptance of Deposits) Rules, 1975 with regard to the


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deposits accepted from the public. No order has been passed by theCompany Law Board or National Company Law Tribunal or Reserve Bank ofIndia or any Court or any other Tribunal, on the Company in respect ofdeposits accepted.

(vii) The Company has an internal audit system commensurate with thesize and nature of its business.

(viii) We are informed that the Central Government has not prescribedthe maintenance of cost records for any of the Company''s products underSection 209(I)(d) of the Act. Accordingly paragraph 4 (viii) of theorder is not applicable.

(ix) In respect of statutory dues:

According to the information and explanations given to us in respect ofstatutory dues:

a. The Company is generally regular in depositing undisputed statutorydues, wherever applicable with appropriate authorities during the year.

b. No undisputed amounts payable in respect of income tax, wealth tax,service tax, sales tax and cess were in arrears, as at 31.03.2011 for aperiod of more than six months from the date they became payable.

c. The following dues have not been deposited by the company on accountof disputes, since the appeals are pending before the relevantauthorities.


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Name of the Nature of dues Financial Amount Forum whereStatute Year/Period (Rs. in

Crores) dispute ispending

Income Tax Income Tax Assessment 0.74 Commissioner ofAct, 1961 Matter under Year 2005-06 Income Tax

(Appeals)dispute

Service Tax Service Tax 01-12-2005 to 0.86 Commissioner,Central

Act, 1994 Demand 31-07-2007 Excise(Adj.)

New Delhiand Hon''bleDelhi HighCourt, Delhi

Total 1.60

(x) The Company does not have any accumulated losses at the end of thefinancial year and has not incurred cash losses in the financial yearand in the immediately preceding financial year.

(xi) On the basis of audit procedures performed by us and according tothe information, explanation and representations given to us by themanagement, the Company had delayed in certain repayments of dues(including interest) to banks and financial institutions. The delayedprincipal amount and the interest aggregated to Rs. 141.37 crores andRs. 29.39 Crores respectively and delays range from 1 day to 106 days.

(xii) The Company has not granted any loans and advances on the basisof security by way of pledge of shares, debentures and othersecurities. Accordingly Paragraph 4 (xii) of the order is notapplicable.

(xiii) In our opinion, the company is not a Chit Fund or a Nidhi /Mutual Benefit Fund / Society. Accordingly, paragraph 4 (xiii) of the


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Order, is not applicable.

(xiv) The company is not dealing in or trading in shares, securities,debentures and other investments. Accordingly, paragraph 4 (xiv) ofthe Order is not applicable.

(xv) The Company has given corporate guarantees amounting to Rs.1281.36 Crores for loans taken by its subsidiaries and associates frombanks and financial institutions. The terms and other conditions, inour opinion, are not prima facie prejudicial to the interest of thecompany.

(xvi) According to the information and explanations given to us andrecords examined by us, the term loans have generally been applied for

the purpose for which they were raised.

(xvii) According to the information and explanations given to us and onan overall examination of Balance Sheet of the Company, we report thatno funds raised on short term basis have been used for long terminvestment. No long term funds have been used to finance short termassets.

(xviii) During the year, 177,500,000 Warrants were converted into equalnumber of equity shares of Rs. 2/- each at a premium of Rs. 48.75 pershare in compliance with the SEBI (Issue of Capital and Disclosure)Regulations, 2009 which resulted in increase in the paid-up capital ofthe Company by Rs. 35.50 Crores. Hence, at the end of the year, theCompany had no warrants outstanding for conversion.

(xix) According to information and explanations given to us, during theyear covered by our audit report, the company has not issued anydebentures.

(xx) The company has not raised any money by way of Public Issue duringthe year.

(xxi) According to the information and explanations given to us, nofraud on or by the company has been noticed or reported during thecourse of our audit.


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For Goel Garg & Co.,

Chartered Accountants

FRN : 000397N

(J. L. GARG)

Partner

Membership Number: 5406

Place: New Delhi

Dated: 29th May, 2011


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DIRECTORS REPORT

FINANCIAL HIGHLIGHTS AND OPERATIONS

The total income of your Company for the year under review is Rs.21,681.34 million. The real estate division contributed Rs. 16,931.48million in the revenues of your company for the year, whereas theconstruction division put in Rs. 348.29 million. The revenues fromconsultancy segment for the year were Rs. 778.76 million.

On consolidated basis, the total income of your Company and its

subsidiaries stands at Rs. 32,921.20 million. The consolidated profitbefore tax (PBT) stood at Rs. 8,515.60 million. The consolidatedprofit after tax (PAT) stood at Rs. 5,811.79 million. The earning pershare (EPS), on an equity share having face value of Rs. 2/-, stands atRs. 2.24 considering the total equity capital of Rs. 5,232.60 million.

KEY HIGHLIGHTS OF THE BUSINESS AND OPERATIONS

Some of the key highlights pertaining to the business of your Company,including its subsidiaries and joint venture Companies, for the year2010- 11 and period subsequent thereto are given hereunder:

- New Project Launches and Sales

During the year 2010-11, your Company launched new projects totaling anarea of 10.4 million square feet across different cities in India. Of

the total area launched in 2010-11, 3.9 million sqft was launched inGurgaon, 2.2 million sqft in Noida and Greater Noida, 1.4 million sqftin Chennai, 1.3 million sqft in Kolkata and 1.6 million sqft in othercities.

The Company received sales bookings for a total area of 9.16 million


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sqft during 2010-11 valued at Rs. 43,236.52 million. With a share of48%, Gurgaon had the largest share of sales, followed by Noida andGreater Noida with 20%, Chennai with 11%, Kolkata with 10% and othercities with 11%.

In terms of segment wise sales, 83% of the area sold was from theresidential segment while 17% was from non-residential. In value terms,share of non-residential segment was slightly higher at 24% due tohigher average realisation of Rs. 6,585 per sqft as compared to anaverage realisation of Rs. 4,341 per sqft of residential segment.

- Commercial Leasing Business

A total of approximately 2.5 million square feet of space was leasedout during 2010-11 in the IT/ITeS projects that are being developed bythe Company in Gurgaon, Noida & Kolkata with this the total leased areaincreased to 4.9 million sqft.

- Project Execution and Delivery

Unitech delivered 4.25 million sqft of completed property during theyear. Company currently has about 80 ongoing projects covering a totalof approx. 40 million sqft of area to be constructed and delivered inthe coming years. In order to efficiently execute the much higher scaleof projects across markets, Unitech had to substantially upgrade itsoperations. In 2010-11, a lot of effort has gone into further enhancingthe Company''s internal execution capabilities.

- Enhancing Execution Capabilities/ Capacity Building

Capacity building has been a key focus area for the Company during theyear. On the one hand, various measures being undertaken to enhanceinternal capabilities focus on reducing construction time as well ascost. On the other hand, there is also a concerted effort at increasing


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controls and supervision to deal more efficiently with project relatedissues across geographies. Some of the initiatives taken are productstandardisation, process changes, inhouse architectural and engineeringdesign, expansion of contractor base and higher mechanization.

- Scheme of Arrangement

The scheme of arrangement under section 391-394 of the Companies Act,1956 for the amalgamation of two wholly owned subsidiaries of theCompany i.e. Aditya Properties Private Limited and Unitech HoldingsLimited with the Company and for the De-merger of infrastructureundertaking (post- merger) of Unitech Limited into its wholly owned

subsidiary i.e. Unitech Infra Limited, duly approved by shareholdersand creditors in their meetings, was filed with Hon''ble High Court ofDelhi and is pending for its approval.

More details about the business and operations of your Company areprovided in the Report on Management Discussion and Analysis formingpart of this Report.

DIVIDEND

Keeping in view the current economic scenario and the future fundsrequirements of the Company, your Directors have recommended adividend@ Re. 0.10 per share on an equity share of Rs. 2/- each fully paid- up(i.e. 5%) for the year ended 31st March, 2011, as against a last yeardividend of 10% (Re. 0.20 per share). The dividend, if approved, willbe paid:

(i) to those members, holding shares in physical form, whose namesappear on the Register of Members of the Company at the close ofbusiness hours on 29th August 2011, after giving effect to all validtransfers in physical form lodged with the Company or its Registrar andShares Transfer Agent on or before 12th August 2011 and


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(ii) to those beneficial owners, holding shares in electronic form,whose names appear in the statement of beneficial owners furnished bythe Depositories to the Company as at the close of business hours on

12th August 2011.

SUBSIDIARIES

There are 293 Subsidiary Companies as on 31st March, 2011. Thefinancial details of the subsidiary companies as well as the extent ofholdings therein are provided in a separate section of this AnnualReport.

The Ministry of Corporate Affairs has, vide General Circular No. 2/2011dated 8th February 2011, granted general exemption for not attachingthe annual accounts of the subsidiary companies with the annualaccounts of holding company.

Pursuant to the said Circular, the Board of Directors of your Companyin their meeting held on 29th May 2011 has given their consent, for notattaching the Annual Accounts of the Subsidiary Companies with that ofthe Holding Company. Accordingly, Balance Sheet, Profit & Loss Account,Directors'' Report and Auditors'' Report of the Subsidiary Companies andother documents required to be attached under section 212(1) of the Actto the Balance Sheet of the Company, shall not be attached. However,these documents shall be made available upon request by any member ofthe Company interested in obtaining the same and shall also be kept forinspection at the Registered Office of your Company and that ofSubsidiary Companies concerned. Further, the financial data of the

Subsidiary Companies has been furnished along with the statementpursuant to Section 212 of the Companies Act, 1956 forming part of thisAnnual Report.

CONSOLIDATED FINANCIAL STATEMENT


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In accordance with the Accounting Standard AS-21 on ConsolidatedFinancial Statements read with Accounting Standard AS-23 on Accountingfor Investements in Associates and AS-27 on Financial Reporting ofInterest in Joint Ventures, the audited Consolidated FinancialStatements forms part of this Annual Report.

CHANGES IN CAPITAL STRUCTURE

Authorised Share Capital

The authorised share capital of your Company is Rs. 10,000 milliondivided into 4,000,000,000 equity shares (4,000 million) of Rs.2/- eachand 200,000,000 preference shares (200 million) of Rs. 10/- each.

Issued and Paid-up Share Capital

The Company had, pursuant to the special resolution passed in the EGMheld on 16th June, 2009, allotted 227,500,000 warrants, convertibleinto equal number of equity shares of Rs. 2/- each at a premium of Rs.48.75 per share to Harsil Projects Private Limited, a promoter groupCompany on 29th June 2009.

As on 1st April, 2010, 177,500,000 such warrants were outstanding andthe same got converted in four tranches during the year 2010-11 intoequal number of equity shares of the Company of face value of Rs. 2/-each at a price of Rs. 50.75 per equity shares (including a premium ofRs. 48.75 per equity shares), as per details below :

Date of No. of warrants convertedconversion into equal number ofof warrants equity shares

02.06.2010 59,056,781


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18.06.2010 20,000,000

22.12.2010 39,408,867

27.12.2010 59,034,352

Accordingly after the above said allotments, the issued and paid-upshare capital of your Company stood at Rs. 5,232,602,094/- comprisingof 2616301047 equity shares of Rs. 2/- each as at 31st March 2011.

DIRECTORS

In accordance with the relevant provisions of the Companies Act, 1956and Article 101 of the Articles of Association of the Company, Mr. G.R.Ambwani and Mr. Sanjay Bahadur are liable to retire by rotation at theensuing Annual General Meeting and being eligible, have offeredthemselves for re-appointment. The brief resume and other details ofthe above directors, as stipulated under Clause 49(IV)(G) of theListing Agreement, are furnished in the Corporate Governance Reportforming part of this Annual Report.

DIRECTORS'' RESPONSIBILITY STATEMENT

As required under Section 217(2AA) of the Companies Act, 1956, yourdirectors, based on the information and representations received fromthe operating management, confirm that:

i) in the preparation of the Annual Accounts for the financial yearended 31st March, 2011, the applicable accounting standards have beenfollowed with proper explanation relating to material departures, ifany;

ii) the Directors have selected such accounting policies and applied


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them consistently and made judgments and estimates that are reasonableand prudent so as to give a true and fair view of the state of affairsof your Company at the end of the financial year and of the profit ofyour Company for that period;

iii) the Directors have taken proper and sufficient care for themaintenance of adequate accounting records in accordance with theprovisions of the Companies Act, 1956 for safeguarding the assets ofyour Company and for preventing and detecting fraud and otherirregularities;

iv) the Directors have prepared the Annual Accounts for the financial

year ended 31st March, 2011 on a going concern basis.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report as required underClause49 of the Listing Agreement with the Stock Exchanges is givenseperately forming part of this Report.

REPORT ON CORPORATE GOVERNANCE

Committed to good corporate governance practices, your company fullyconforms to the standards set out by the Securities and Exchange Boardof India and other regulatory authorities and has implemented andcomplied with all of its major stipulations. The requisite Certificateissued by M/s Sanjay Grover and Associates, Company Secretaries

confirming compliance with the conditions of Corporate Governance asstipulated under Clause 49 of the Listing Agreement, is attached tothis report.


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SOCIAL RESPONSIBILITY

The Company conducts its business in a way that creates social,environmental and economic benefits to the communities in which it

operates and the Company has always been earnest for contributingtowards the betterment of society through various welfare initiativesviz. providing education, skill development and healthcare for theunderprivileged section of the society. Some of such CSR initiativesare highlighted hereunder:

- Safety Measure at the Construction Site - The Company ensuresstringent safety regulations, conducive work environment, clean

drinking water, crche facilities for more than 22,000 workers at thevarious construction sites across India.

- Education - Unitech''s schools of learning called "Shikshantar" withexcellent academic faculty at the helm, provide holistic education tochildren from all backgrounds.

- Rainwater Harvesting - All townships and projects developed by the

Company have rainwater harvesting facilities. Unitech is committed tobest practices that help maintain the water table and encouragerecycling.

- Social Forestry - To affirm its concern for environmentalsustainability, Company''s brand is associated with ''green'' and theCompany ensures plantation on a continuous basis in and around all ourlocations.

AUDITORS AND AUDITORS'' REPORT

The Auditors, M/s. Goel Garg & Co., Chartered Accountants, hold officeuntil the conclusion of the ensuing Annual General Meeting and beingeligible are recommended for re-appointment. A certificate from the


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auditors has been received to the effect that the re-appointment, ifmade, would be in accordance with Section 224(1B) of the Companies Act,1956.

M/s A. Zalmet, Certified and Legal Public Accountant, Libya who hadbeen appointed as Branch Auditors for Libya Branch of your Company willalso retire at the ensuing Annual General Meeting and being eligible isrecommended for re-appointment.

The Auditors, without qualifying the Auditors'' Report, have drawnattention on few items and the Board''s responses on them are asfollows:

- Refer point 4(vi) (a) of the Auditors'' report - Due to ongoing civilwar and internal conflicts in Libya, the Company had to abandon itsbranch operations during the financial year 2010-2011. The Company''scontractors situated in Europe have already commenced the proceduresunder international law for "Force Majeure" for compensation/estimation of amounts due by the Libyan Government, these wouldmaterialize in due course of time and the management does not envisageany loss at this stage.

- Refer point 4(vi) (b) & (c) of the Auditors'' report - The managementis of the opinion that advances against projects pending commencementand advances recoverable, are in the normal course of business and eventhough unsecured and unconfirmed are considered good.

- Refer point (xi) of the Annexure to the Auditors'' Report - During theyear under review, there had been some delays in re-payments of dues to

the Banks and Financial Institutions due to slow down in the realestate business. However, the management opines that with improvedbusiness scenario, the company will be able to meet its obligation intime.


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CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT,TECHNOLOGYABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Since your Company does not own any manufacturing facility, therequirements pertaining to disclosure of particulars relating toconservation of energy, research & development and technologyabsorption, as prescribed under the Companies (Disclosure ofParticulars in the Report of Board of Directors) Rules, 1988, are notapplicable.

Foreign Exchange Earnings and Outgo

Activities relating to exports, initiatives to increase exports,Development of new export markets for products and services and Exportplans:

The Company is engaged in developing/constructing residential andcommercial properties in India and selling the immovable properties tocustomers in India and abroad. The Company receives remittances of

sale consideration for immovable properties located in India, purchasedby the customers abroad.

The foreign exchange earnings and expenditure of the Company during theyear under review were Rs. 51.57 million and Rs. 176.98 million ascompared to Rs. 253.43 million and Rs. 63.964 million in the previousyear respectively.

FIXED DEPOSITS

Your Company has Fixed Deposits to the tune of Rs. 9,333.282 million ason 31st March, 2011. 1427 deposits aggregating Rs. 84.279 million weredue for renewal/repayment on or before 31st March, 2011 against whichno communication was received from the deposit holders.


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PARTICULARS OF EMPLOYEES

In accordance with the provisions of Section 217(2A) of the CompaniesAct, 1956, read with the Companies (Particulars of Employees) Rules,

1975, the names and other particulars of employees forms a part of thisReport. However, as per the provision 219(1) (b)(iv) of the CompaniesAct, 1956, the Directors'' Report and the Accounts are being sent to allmembers of the Company excluding the aforesaid information. Anymemberinterested in obtaining such particulars may write to the CompanySecretary at the registered office of the Company. This statementshall also be available for inspection at the registered office of theCompany during the working hours upto the date of the Annual General

Meeting.

ACKNOWLEDGEMENTS

The Board acknowledges with gratitude the co-operation and assistanceprovided to your Company by its bankers, financial institutions,government as well as non-government agencies. The Board wishes toplace on record its appreciation to the contribution made by employees

of the Company and its subsidiaries during the year under review. YourDirectors thank the customers, clients, vendors and other businessassociates for their continued support. Your Directors are thankful tothe shareholders and deposit holders for their continued patronage.

For and on behalf of the Board of Directors

Ramesh Chandra

(Chairman)

Place: New Delhi

Date: 29th May 2


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CORPORATE SOCIAL RESPONSIBILITY

The Company conducts its business in a way that creates social,

environmental and economic benefits to the communities in which itoperates and the Company has always been earnest for contributingtowards the betterment of society through various welfare initiativesviz. providing education, skill development and healthcare for theunderprivileged section of the society. Some of such CSR initiativesare highlighted hereunder:

- Safety Measure at the Construction Site - The Company ensuresstringent safety regulations, conducive work environment, cleandrinking water, crche facilities for more than 22,000 workers at thevarious construction sites across India.

- Education - Unitech''s schools of learning called "Shikshantar" withexcellent academic faculty at the helm, provide holistic education tochildren from all backgrounds.

- Rainwater Harvesting - All townships and projects developed by theCompany have rainwater harvesting facilities. Unitech is committed tobest practices that help maintain the water table and encouragerecycling.

- Social Forestry - To affirm its concern for environmentalsustainability, Company''s brand is associated with ''green'' and theCompany ensures plantation on a continuous basis in and around all ourlocations.


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MERGERS AND ACQUISITION

Unitech Ltd acquires Unitech Corporate Parks PLC Jul 27, 2010

Unitech Ltd spins off Unitech Infra Ltd Apr 20, 2010

Telenor ASA acquires a minority stake in Unitech Wireless Ltd

from Unitech Ltd

Jan 08, 2010

Harsil Projects Pvt Ltd acquires a minority stake in Unitech

Ltd

Jun 29, 2009

Undisclosed Acquiror acquires Unitech Ltd-Office Building

from Unitech Ltd

May 21, 2009

Investor Group acquires a minority stake in Unitech Corporate

Parks PLC from Unitech Ltd

Apr 15, 2009

Unitech Ltd seeking buyer for Unitech Wireless-Telecom

Equip

Mar 31, 2009

Telenor ASA acquires a minority stake in Unitech Wireless Ltd

from Unitech Ltd

Mar 23, 2009

Unitech Ltd seeking buyer for minority stake in Unitech Ltd-

Telecommunications

Oct 24, 2008

Prakausali Invest(India)Pvt intends to acquire a minority stake

in Unitech Ltd

Dec 27, 2005
http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-530068http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-530068http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-530068http://www.alacrastore.com/deal-snapshot/Harsil_Projects_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-576353http://www.alacrastore.com/deal-snapshot/Harsil_Projects_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-576353http://www.alacrastore.com/deal-snapshot/Harsil_Projects_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-576353http://www.alacrastore.com/deal-snapshot/Undisclosed_Acquiror_acquires_Unitech_Ltd_Office_Building_from_Unitech_Ltd-571834http://www.alacrastore.com/deal-snapshot/Undisclosed_Acquiror_acquires_Unitech_Ltd_Office_Building_from_Unitech_Ltd-571834http://www.alacrastore.com/deal-snapshot/Undisclosed_Acquiror_acquires_Unitech_Ltd_Office_Building_from_Unitech_Ltd-571834http://www.alacrastore.com/deal-snapshot/Investor_Group_acquires_a_minority_stake_in_Unitech_Corporate_Parks_PLC_from_Unitech_Ltd-569121http://www.alacrastore.com/deal-snapshot/Investor_Group_acquires_a_minority_stake_in_Unitech_Corporate_Parks_PLC_from_Unitech_Ltd-569121http://www.alacrastore.com/deal-snapshot/Investor_Group_acquires_a_minority_stake_in_Unitech_Corporate_Parks_PLC_from_Unitech_Ltd-569121http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_Unitech_Wireless_Telecom_Equip-568051http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_Unitech_Wireless_Telecom_Equip-568051http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_Unitech_Wireless_Telecom_Equip-568051http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-595858http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-595858http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-595858http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_minority_stake_in_Unitech_Ltd_Telecommunications-535702http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_minority_stake_in_Unitech_Ltd_Telecommunications-535702http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_minority_stake_in_Unitech_Ltd_Telecommunications-535702http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_intends_to_acquire_a_minority_stake_in_Unitech_Ltd-430829http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_intends_to_acquire_a_minority_stake_in_Unitech_Ltd-430829http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_intends_to_acquire_a_minority_stake_in_Unitech_Ltd-430829http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_acquires_Unitech_Corporate_Parks_PLC-622425http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_intends_to_acquire_a_minority_stake_in_Unitech_Ltd-430829http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_intends_to_acquire_a_minority_stake_in_Unitech_Ltd-430829http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_minority_stake_in_Unitech_Ltd_Telecommunications-535702http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_minority_stake_in_Unitech_Ltd_Telecommunications-535702http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-595858http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-595858http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_Unitech_Wireless_Telecom_Equip-568051http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_seeking_buyer_for_Unitech_Wireless_Telecom_Equip-568051http://www.alacrastore.com/deal-snapshot/Investor_Group_acquires_a_minority_stake_in_Unitech_Corporate_Parks_PLC_from_Unitech_Ltd-569121http://www.alacrastore.com/deal-snapshot/Investor_Group_acquires_a_minority_stake_in_Unitech_Corporate_Parks_PLC_from_Unitech_Ltd-569121http://www.alacrastore.com/deal-snapshot/Undisclosed_Acquiror_acquires_Unitech_Ltd_Office_Building_from_Unitech_Ltd-571834http://www.alacrastore.com/deal-snapshot/Undisclosed_Acquiror_acquires_Unitech_Ltd_Office_Building_from_Unitech_Ltd-571834http://www.alacrastore.com/deal-snapshot/Harsil_Projects_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-576353http://www.alacrastore.com/deal-snapshot/Harsil_Projects_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-576353http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-530068http://www.alacrastore.com/deal-snapshot/Telenor_ASA_acquires_a_minority_stake_in_Unitech_Wireless_Ltd_from_Unitech_Ltd-530068


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Prakausali Invest(India)Pvt acquires a minority stake

inUnitech Ltd

Dec 14, 2005

Unitech Ltd acquires a minority stake in Home Solutions Retail

Ltd from Pantaloon Retail(India)Ltd (pending)

Nov 22, 2005

Unitech Ltd acquires Unitech Hyundai Elec Trans Pvt

(pending)

Feb 08, 2005

Credit Lyonnais(S)Merchant acquires a minority stake in

Unitech Ltd

Jun 27, 2003

RDC Concrete Pte Ltd acquires Unitech Prefab Ltd(Unitech)

from Unitech Ltd

Mar 07, 2002

Anant Raj Agencies Pvt Ltd acquires a minority stake in

Unitech Ltd

Nov 22, 2001

Sterlite Industries India Ltd acquires Unitech Hyundai Elec

Trans Pvt from Unitech Ltd (pending)

Jul 07, 2000

Resources Development Corp Ltd acquires a minority stake in

Unitech Prefab Ltd(Unitech) from Unitech Ltd

May 26, 1995
http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_acquires_a_minority_stake_in_Unitech_Ltd-427877http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_acquires_a_minority_stake_in_Unitech_Ltd-427877http://www.alacrastore.com/deal-snapshot/Prakausali_Invest_India_Pvt_acquires_a_minority_stake_in_Unitech_Ltd-427877http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_acquires_a_minority_stake_in_Home_Solutions_Retail_Ltd_from_Pantaloon_Retail_India_Ltd-427777http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_acquires_a_minority_stake_in_Home_Solutions_Retail_Ltd_from_Pantaloon_Retail_India_Ltd-427777http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_acquires_a_minority_stake_in_Home_Solutions_Retail_Ltd_from_Pantaloon_Retail_India_Ltd-427777http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt-404832http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt-404832http://www.alacrastore.com/deal-snapshot/Unitech_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt-404832http://www.alacrastore.com/deal-snapshot/Credit_Lyonnais_S_Merchant_acquires_a_minority_stake_in_Unitech_Ltd-356434http://www.alacrastore.com/deal-snapshot/Credit_Lyonnais_S_Merchant_acquires_a_minority_stake_in_Unitech_Ltd-356434http://www.alacrastore.com/deal-snapshot/Credit_Lyonnais_S_Merchant_acquires_a_minority_stake_in_Unitech_Ltd-356434http://www.alacrastore.com/deal-snapshot/RDC_Concrete_Pte_Ltd_acquires_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-320673http://www.alacrastore.com/deal-snapshot/RDC_Concrete_Pte_Ltd_acquires_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-320673http://www.alacrastore.com/deal-snapshot/RDC_Concrete_Pte_Ltd_acquires_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-320673http://www.alacrastore.com/deal-snapshot/Anant_Raj_Agencies_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-315822http://www.alacrastore.com/deal-snapshot/Anant_Raj_Agencies_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-315822http://www.alacrastore.com/deal-snapshot/Anant_Raj_Agencies_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-315822http://www.alacrastore.com/deal-snapshot/Sterlite_Industries_India_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt_from_Unitech_Ltd-267847http://www.alacrastore.com/deal-snapshot/Sterlite_Industries_India_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt_from_Unitech_Ltd-267847http://www.alacrastore.com/deal-snapshot/Sterlite_Industries_India_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt_from_Unitech_Ltd-267847http://www.alacrastore.com/deal-snapshot/Resources_Development_Corp_Ltd_acquires_a_minority_stake_in_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-119697http://www.alacrastore.com/deal-snapshot/Resources_Development_Corp_Ltd_acquires_a_minority_stake_in_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-119697http://www.alacrastore.com/deal-snapshot/Resources_Development_Corp_Ltd_acquires_a_minority_stake_in_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-119697http://www.alacrastore.com/deal-snapshot/Resources_Development_Corp_Ltd_acquires_a_minority_stake_in_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-119697http://www.alacrastore.com/deal-snapshot/Resources_Development_Corp_Ltd_acquires_a_minority_stake_in_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-119697http://www.alacrastore.com/deal-snapshot/Sterlite_Industries_India_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt_from_Unitech_Ltd-267847http://www.alacrastore.com/deal-snapshot/Sterlite_Industries_India_Ltd_acquires_Unitech_Hyundai_Elec_Trans_Pvt_from_Unitech_Ltd-267847http://www.alacrastore.com/deal-snapshot/Anant_Raj_Agencies_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-315822http://www.alacrastore.com/deal-snapshot/Anant_Raj_Agencies_Pvt_Ltd_acquires_a_minority_stake_in_Unitech_Ltd-315822http://www.alacrastore.com/deal-snapshot/RDC_Concrete_Pte_Ltd_acquires_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-320673http://www.alacrastore.com/deal-snapshot/RDC_Concrete_Pte_Ltd_acquires_Unitech_Prefab_Ltd_Unitech_from_Unitech_Ltd-320673http://www.alacrastore.com/deal-snapshot/Credit_Lyonnais_S_Merchant_acquires_a_minority_stake_in_Unitech_Ltd-356434http://www.alacrastore.com/deal-snapshot/Credit_Lyonnais_S_Merchant_acquires_a_mino

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