Indian realty major Unitech to raise up to $215m to speed up project execution

Unitech Ltd, one of the largest developers in the country by market value, is planning to raise Rs.1,300-1,400 crore in a bid to speed up construction of its existing projects and overcome a delivery backlog and liquidity crunch. It plans to raise the money by selling land and stakes in projects or even from a single-large transaction, a top executive said.