Unitech, DLF assure no exposure to Dubai

Unitech, DLF assure no exposure to Dubai
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First Published: Fri, Nov 27 2009. 10 49 AM IST
Updated: Fri, Nov 27 2009. 10 49 AM IST
New Delhi: Unitech Ltd, India’s No. 2 listed real estate firm, has no exposure to Dubai, its managing director Sanjay Chandra said on Friday.
“We have no business or exposure to either business from Dubai, nor any borrowings from Dubai,” he told Reuters.
Shares in the company were down 4.3% at Rs74 by 10:41am, in a Mumbai market that had fallen 2.3%.Shares in Unitech’s bigger rival DLF were down 5.1% at Rs336.20.
Earlier, a DLF spokesman said the company had no exposure to Dubai.
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First Published: Fri, Nov 27 2009. 10 49 AM IST
More Topics: Unitech | Dubai | Real Estate | DLF | Debts |