INSUBCONTINENT EXCLUSIVE:
Shares of Unitech Ltd moved both ways early Thursday as net loss of the crisis-hit realty firm widened
On Wednesday, it informed bourses that its net loss swelled to Rs 72.95 crore for the first quarter to June.
The scrip was in the red in
Total revenue declined sharply 73 per cent YoY to Rs 77.94 crore in Q1 FY19 over Rs 289 crore in the same period last year
Gurgaon-based developer is in a deep crisis as both of its managing directors - Sanjay and Ajay Chandra -- are in jail due to defaults in
delivery of real estate projects.
The Supreme Court recently said the unencumbered assets of the company's directors can be sold to refund
money to hassled homebuyers.
