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Unitech Unveils Housing Project at Ambala

Comments Off on Unitech Unveils Housing Project at Ambala   |   April 13, 2011    07:59am   |Contributed by Indian Realty News

Real estate major Unitech Ltd has unveiled the first phase of its affordable housing project Unihomes in Ambala, Haryana. This project, which will be launched in phases, is a part of the 150-acre Unitech township project coming up in Ambala. First phase of this project is offering 300 units to buyers with unit cost staring at Rs 19.84 lakh onwards. The project comprises 2 & 3 BHK independent floors in sizes including 953 square feet and 1,646 square feet.

The launch of Unihomes, Ambala is in line with Unitech’s business plan to launch almost 10 million sq ft in the next few months. Some of its recently launched projects include Gardens and Aspen Greens — Mohali; Espace Premier – Gurgaon; Residences – Noida; Gardens, Unihomes 2 and Green Wood City – Chennai, etc, according to a company press release

Unitech introduced affordable housing projects under the “Unihomes” brand in 2009 as part of its strategy to expand its product offering and achieve leadership in the residential housing segment. The previous launches of Unihomes in cities such as Rewari, Mohali, Chennai, Noida and Bhopal have met with an encouraging response from the customers, the press release added.

Unitech has been steadily improving its cash flows on the back of improved realisation from operations. As announced in the Q3FY11 results, Unitech has reduced its net real estate debt by Rs 555 crore in the 3rd quarter of FY 2011. Its real estate net debt equity ratio now stands at 0.40 which is one of the lowest in the industry. Being comfortable from a financial leverage perspective, the company is focusing on its core operations — launches, execution and delivery of projects.
Delivery of finished products has commenced in most of the pre-March 2009 projects and is expected to accelerate in the coming months, it said.

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