Unitech Group

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 Mohanty, 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

The Unitech Group is India's second largest real estate investment company[3], and has recently claimed to be the largest real estate builder in the country.[4][5][5].

The company is based in New Delhi[3] and ranks 1484, in Forbes Global 2000 listing of the top 2000 public companies in the world by Forbes magazine, 32nd in India[1]. 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,Greater Noida, Agra, Lucknow, Varanasi,Gurgaon, and Ghaziabad[6].

Contents

History

Founded by 5 partners, Ramesh Chandra, Dr. S. P. Shrivastava, Dr. P K Mohanti, Dr. Ramesh Kapur and Dr. Bahari and originally formed as United Technical Consultant Private Ltd in 1972 as a soil investigation company.[7] They later moved into civil engineering contracts in 1974.[8] The company began to enter into real estate in 1986.[7], and started to increase focus in Real Estate in 2000 today it is India's second-largest listed real estate firm.

Past Join Ventures: LG - Unitech Hyundai - Unitech Singapore Consortium - Unitech Carlson (Radission) - Unitech

Communication

Main article: Uninor

They have recently formed a large joint venture with Norway based Telenor Group to create Unitech Wireless.[9], in August 2009, it secured a 50 billion rupee ($1 billion) loan from State Bank of India (SBI.BO) to fund its mobile phone network rollout.[5].

References

  1. ^ a b c d Special Report:Forbes Global 2000 Forbes, The Global 2000. 04.02.08
  2. ^ Company Profile For Unitech Ltd: Unitech Ltd (UNTE.BO) (Bombay Stock Exchange) Reuters.
  3. ^ a b The New Mantra for Reality sector The Economic Times.
  4. ^ "Three new schemes for Indian property investment developer". Offplanpropertyexchange.com. 2009-01-08. http://www.offplanpropertyexchange.com/news/2009/01/08/three-new-schemes-for-indian-property-investment-developer/612. Retrieved 2010-11-23. 
  5. ^ a b c India Unitech Wireless gets $1 bln loan from SBI Reuters, Aug 18, 2009.
  6. ^ Unitech Group Profile India's Business Directory.
  7. ^ a b Unitech supremo: A reluctant tycoon The Economic Times, 26 Jan 2008.
  8. ^ Unitech: Building on a diversified strategy Financial Express, Entered into Civil Engineering Projects into Libya in 1978, Aug 20, 2001.
  9. ^ Cyber India Online Ltd.. "Money Matters". Voicendata.ciol.com. http://voicendata.ciol.com/content/news/109081901.asp. Retrieved 2010-11-23. 

External links