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Unitech has raised Rs 70 crore from Piramal group for project in Chennai

The largest realty firm Unitech Ltd has raised about Rs 70 crore to complete the construction of its joint venture housing project in Chennai from the Piramal group.

Sanjay Chandra, the MD of Unitech said, “We plan to raise Rs 150-200 crore funding through private equity and structured financing to meet working capital needs of our ongoing projects.”

In the second phase of this project, the joint venture between Unitech and Piramal group has plans to develop 1,200 flats with the real estate.

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