Tag: Unitech Ltd

Unitech’s Net Profit Plunges 98% On Weak Property Demand

Unitech Ltd. (507878.BY), one of India’s top realty companies by sales, Wednesday posted a 98% drop in consolidated net profit for the January-March quarter as expensive loans and property prices crimped demand for apartments and shopping malls. Profit in the fiscal fourth quarter plunged to INR22.6 million from INR1.03 billion a year earlier. The figure […]

Unitech Seeks Arbitration in order to Resolve JV Dispute.

Indian real-estate developer Unitech Ltd on Friday sought the Company Law Board’s approval to resolve through arbitration a dispute with Telenor ASA over their telecom joint venture, but the Norwegian company is set to oppose the move. Unitech applied to the board–a quasi-judicial body–seeking arbitration after the two companies failed to make any headway in […]