Diversification/Disinvestment

Unitech Limited has executed a Share Purchase Agreement for the 100% equity disinvestment of its wholly-owned subsidiary, Unitech Power Transmission Limited (UPTL), to Auro Infra Private Limited, receiving Rs 50.89 crore in full consideration.

Following this transaction, UPTL will no longer be a subsidiary of Unitech.

For the financial year ending March 2024, UPTL contributed approximately 9.38% to the consolidated income and 1.51% to the consolidated net worth of Unitech.

This disinvestment aligns with Unitech's strategic objectives, potentially streamlining operations and improving financial health.

Investors may view this as a positive outlook, enhancing focus on core business areas.