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Source: media reports

Unitech to reclassify itself as operating cum holding company

Unitech to reclassify itself as operating cum holding company
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First Published: Tue, Jan 20 2009. 08 00 PM IST
Updated: Tue, Jan 20 2009. 08 00 PM IST
New Delhi: Unitech Ltd, India’s second largest developer by market value has made an application to the Foreign Investment Promotion Board on 14 January to reclassify itself as a “operating cum holding company”.
“Unitech is right now an operating company,” a company spokesperson said. “Since the company is not only involved in the operational business of construction development but it also holds investments in several entities, the company wants to reclassify itself.” Unitech like other real estate developers has several subsidiaries through which it operates.
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First Published: Tue, Jan 20 2009. 08 00 PM IST