Unitech,launches,Unihomes,Amba business, insurance Unitech launches Unihomes in Ambala
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Unitech Limited, India's leading business group andan integrated developer of large-scale real estate has launched the first phaseof its affordable housing project Unihomes in Ambala, Haryana. This projectwhich will be launched in phases is a part of an almost 150 Acre Unitechtownship project in Ambala. First phase of this project is offering 300 unitsto buyers.Unitech introducedaffordable housing as a product offering under the Unihomes brand in 2009 aspart of its strategy to expand its product offering and achieve leadership inthe Residential Housing segment. The previous launches of Unihomes; in citiessuch as Rewari, Mohali, Chennai, Noida and Bhopal; has met with an encouraging responsefrom the customers.The Phase 1 ofUnihomes, Ambala, comprises of 2 & 3 BR independent floors (Ground Floor +2 levels) in sizes including 953 sqft and 1646 sqft. The demand and pricing environment of the residentialproduct has been stable and with the recent measures announced in the UnionBudget 2011 the pace of demand for Affordable Housing will be robust andUnitech is well poised to respond to this demand. The launch ofUnihomes, Ambala is in line with Unitechs business plan to launch almost 10million square feet in the next few months. In the past, some of the projectslaunched include ~ Gardens Mohali, Aspen Greens Mohali, Espace Premier Gurgaon, Residences Noida, Gardens Chennai, Unihomes 2 Chennai, Green Wood City Chennai etc. Unitech has been steadily improving its cash flows onthe back of improved realization from Operations. As announced in the Q3FY11results, Unitech has reduced its net real estate debt by Rs. 555 crore in the 3rdquarter of FY 2011. Its real estate net debt equity ratio now stands at 0.40which is one of the lowest in the industry. Being comfortable from a financialleverage perspective, the Company is focusing on its core operations ~Launches, Execution and Delivery of Projects. Delivery of finished products hascommenced in most of the pre-March 2009 projects and is expected to acceleratein the coming months
Unitech,launches,Unihomes,Amba