Unitech to launch ‘Uniworld Resorts’

Unitech, India's leading business group and an integrated developer of large-scale real estate projects, is planning to launch ‘Uniworld Resorts’, a residential project in the midst of bustling Electronic City, Phase - I, Bangalore.

The project location perfectly fits in the walk –to- work culture as it is in close vicinity to the major IT campuses.

Uniworld Resorts, spread over 20 acres, is offering Ground plus four floors low rise towers. Each tower comprises of Duplex and Simplex units with a choice of 2.5, 3 & 4 bedrooms in sizes ranging from 1930 to 4100 sq.ft with unit cost starting at Rs. 80 lakhs. The project, Designed by Element Design Studio, Singapore, offers a secure living environment to its residents and will have a slew of environment friendly features like solar heating and lighting, rainwater harvesting, less vehicular movement on surface etc. These homes will also have the features like 100% power back-up, Club House( Billiards/Pool Table, Gymnasium, Lawn Tennis and Badminton Court, Swimming Pool, Basketball Court.) etc.

Uniworld Resorts will also provide relief from the daily city rush. It is in close proximity to major IT campuses, signal free elevated Hosur Expressway, Koramangalam and JP Nagar. This project also offers proximity to world class schools such as Christ Academy, Sunrise International Residential School, Sherwood High, Podar International Radcliffe School, NTTF, IHMR & BTL Institute of Technology; and hospitals such as Narayana Hrudayalaya, Apollo Ecity, Ramkrishna Health Care, Swami Trauma Centre and Aggarwal National Hospital.

Commenting on the project, V.K. Chadha, Executive Vice-President, Unitech said, “We are pleased to offer this project to the people of Bangalore. The project is strategically located in the heart of Electronic City, with all facilities needed for comfortable and healthy living.”

Bangalore being a major economic hub of India with its vibrant IT and software industry, the demand for residential projects has been healthy. Unitech is well poised to cater to this growing demand of residential projects in Bangalore. Unitech expects to generate sales of Rs. 20bn across different segments of real estate development (Residential & Retail) in Bangalore over next 3 years.

The launch of Uniworld Resorts, Bangalore is in line with Unitech’s overall business plan to launch almost 10 million square feet in the next few months. In the past, Unitech has successfully launched Espace Premiere, Arcadia 2, South Park, Nirvana Courtyard 2 in Gurgaon; Residences, Unihomes in Noida; Fresco in Kolkata; Great India Place in Bhopal and Dehradun; Aspen Greens in Mohali; Greenwood City, Birch Court, Chaitanya in Chennai; Unihomes in Rewari and Ambala; Palace Court in Mysore.

Unitech has been steadily improving its cash flow on the back of improved realization from Operations. Company’s debt, net of cash, reduced by Rs. 228 Crores during the year. Company has a healthy balance sheet with a real estate net debt to equity ratio of 0.46 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.