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Unitech Ltd. Company History and Annual Growth Details


1971 - The Company was incorporated on 9th February as United Technical
Consultants Pvt. Ltd., and was converted into a public limited
company on 3rd October. The company carries on construction of
industrial projects on a turnkey basis and execution of housing
projects and export orders.

1985 - The name was changed to Unitech Ltd., on 17th October. The
company was promoted by a group of technocrats, proficient in the
field of soil and foundation engineering and managed by
professionals. The Company undertakes projects both in India and

- Out of the shares issued till date, 1,00,000 shares were issued
as bonus shares in prop. 1:1 on 28th December, 1981.

1986 - Additional contracts for water supply and sewage works at Hun and
a mosque at Sokna were also awarded to the Company.

- The Company received maintenance work for six school buildings
near Tripoli.

- The Company also signed a protocal with Libyan Authorities for
the construction of 270 houses at Wadan. Further, negotiations
were at an advanced stage for a contract, for the construction
of two hot water reservoirs in a desert area, and high tension
line for 70 tubewells with foreign collaborations.

- The Company launched a real estate mini-city - the South City and
a similar one at Rae-Bareilley, South of Lucknow, covering an
area of 255 acres of land.

- The Company also signed agreements for the construction of
multistoreyed buildings in Connaught Place, New Delhi, 125
luxurious cottages and shopping complex in Panchgani,
residential-cum commercial complex at Airoli, New Mumbai, a
multi-storeyed residential apartment at Shimla and a
multi-storeyed commercial complex covering an area of 2,40,000
sq.ft. at Indore.

- In February, the Company issued 14,10,000 No. of equity shares of
Rs.10 each at a premium of Rs.6 per share linked to 2,11,500-15%
secured redeemable non-convertible debentures of Rs.100 each of
which the following were reserved for allotment on a preferential

- (i) 70,500 No. of equity shares linked to 10,575 debentures to
employees (including Indian working directors)/workers of the
Company and associate companies and

- (ii) 28,200 No. equity shares linked to 4,230 debentures to
business associates of the Company. Only 64,500 shares linked
to 9,675 debentures were taken up by (i) and (ii) above. The
remaining 13,11,300 No. of equity shares linked to 5,130
debentures not taken up under preferential quota were issued to
the public. Additional 3,52,500 shares linked to 52,875
debentures were allotted to retain oversubscription.

- These debentures under both schemes - cumulative and
non-cumulative were to be redeemed at a premium of 5% of the face
value in three annual instalments of Rs.40, Rs.30 and Rs.35
respectively on the expiry of 6th, 7th and 8th year from the
date of allotment of debentures.

- 40,30,000 bonus shares issued in prop. 2015:100 on 1st January,
1986. In February 1986, 14,10,000 shares issued (prem. Rs.6 per
share) linked to 2,11,500-15% non-convertible debentures.

1987 - The Company received major orders for construction of Okhla
Sewage treatment plant at Delhi valued at Rs.8 crores and a
steel melting shop at Vizag Steel Plant valued at Rs.16 crores.

- Also, additional contracts for water supply and sewage works at
Hun and a mosque at Sokna were also awarded to the Company. The
Company received maintenance work for six school buildings near

- The Company launched industrial estate 'Udyog Vihar' at
Vithalwadi, Ulhasnagar, near Mumbai.

- The Company obtained further licences from Haryana Government for
development of its residential township near Delhi-Haryana

1988 - Other jobs secured during the period were the construction of
chimney for Dadri Thermal Power Station of NTPC, a 300 metre tall
TV Tower at Jaisalmer, Rajasthan and pile foundation work for
Durgapur Steel Plant.

- Further development work was undertaken at South City, the
resident mini-township near Delhi-Haryana border.

- The Company undertook implementation of a five-star deluxe hotel
project at Agra. A technical collaboration agreement was
entered into with Ramda Inn Chain, for the hotel project.

1989 - The jobs bagged include construction of super structure for main
power house and auxiliary building for BHEL at Tenugha, Bihar,
industrial buildings for J.K. Tyres at Gwalior, M.P.,
modernisation of slab casting shop for TISCO, Jamshedpur and
residential complex township for Chambal Fertilizers Ltd., at
Kota, Rajasthan.

- The Company was awarded two jobs for laying 66 KV transmission
lines of 100 KM and 102 KM lengths.

- Agreements for executing large real estate projects in Delhi,
Bangalore and Gurgaon were signed.

- The Company proposed to launch the construction and sales of a
prestigious multi-storeyed apartment building at Firozshah Road
in Connaught Place, New Delhi.

- An agreement was signed with Kazakh Republican Council and their
associates for a joint venture for renovation of the existing
hotel at Medeo at Alma Ata (USSR) to 5-star deluxe standard.
The objective of the joint venture was to build a new block of
150/5 star deluxe international standard rooms and carry out
operation and management of the combined hotel on a professional
basis to provide fillip to tourism. However, permission from the
Govt. of India and USSR was awaited.

- A Joint venture Company in the name of Benetone Unitech Co. Ltd.,
was incorporated in Thailand to undertake development and
construction projects. The joint venture undertook development
and construction of a 35 storeyed luxurious residential complex
with a total area of 52,000 sq. mtrs.

- 10,57,500 shares issued (prem. Rs.8 per share) through a
prospectus in February 1989, of which 52,875 shares reserved for
allotment on a preferential basis to employes (only 21,600 shares
taken up). The remaining 10,04,625 shares along with 31,275
shares not taken up by employees offered to the public.
Additional 1,58,600 shares allotted to retain oversubscription.

1990 - The Company secured jobs for the construction of container depot
for Container Corporation of India at Tughlakabad, Construction
of HUDCO Bazar for HUDCO at New Delhi, modernisation of Kalyanpur
Cement Ltd., at Rohtas, Bihar and construction of mass houses for
CIDCO at New Mumbai.

- The Company was awarded awarded a job for the construction of
transmission station in collaboration with a Yugoslavian Company.

1991 - The Company offered 36,04,300 No. of equity shares of Rs.10 each
at a premium of Rs.15 per share on Right basis in the ratio of

- Simultaneously 1,80,215 No. of equity shares of Rs.10 each at a
premium of Rs.15 were reserved for allotment to the employees
(additional 74600 No. of equity shares taken up).

- Unitech Metals Ltd., Unitech Exports Ltd., Supernal Corrugation
(India) Ltd., Ruhi Construction Co. Ltd., New India Construction
Co. Ltd., Unitech Industries Ltd., Unitech Builders Ltd., and
Unitech Investments are wholly owned subsidiaries of the Company.

1993 - 36,78,900 No. of equity shares allotted on right basis.

1994 - The Company signed a MOU with Singapore Consortium and Haryana
Urban Development Authority for setting up a Technology Park in
Gurgaon. The company was also negotiating for further tie-up
with International Companies to enable it to bid for large
Highway construction projects.

- 16,00,000 No. of equity shares of Rs.10 each allotted for each
at a premium of Rs.82.50 to II Foreign Institutional Investors.

1995 - The Company entered into partnership with Resources Development
Corporation Ltd., Singapore and Comcraft Asia Pacific Pte Ltd.,
Singapore to set up Automatic Block plants at New Mumbai and
Ready Mixed concrete plants at Powai, Goregaon and South City.

- The batching plant at Goregaon, Mumbai was fully computerised
state-of-the-art imported plant of 100 cubic metre per hour

- The Company proposed to develop a state of the art quarry in New
Mumbai to manufacture one million tonnes of aggregate per year.

- The Company signed a Joint Venture Agreement with Haryana Urban
Development Authority and First Capital Property Ventures Pte.
Ltd., Singapore for developing a Technology Park at Gurgaon which
will house the high technology industries proposed to be set up
by domestic and international companies of repute.

- The Hyundai Unitech Electrical Transmission Ltd., became the
subsidiary of the Company.

1996 - The Company has handed over possession of several apartments in
Heritage Estate in Bangalore, Legacy Complex in Lucknow and,
Sunbreeze Tower-III.


-Unitech surges on stake buy in Pantaloon arm

-Unitech to take over Hyundai in JV


-Unitech joins in top-30 market cap league

-Unitech gets biggest land deal

- Unitech Ltd. has decided to set up an IT SEZ (special economic zone) in West Bengal.

-I S T Ltd has informed that the Company has entered into Supplemental Agreement with Unitech Ltd., for development of Software/IT Park on 28.419 acres instead of 13.35 acres.


-The Company has issued Bonus Shares in the Ratio of 1:1.

-Unitech acquires Vizag tract for Rs 3,328 cr


-Unitech enters into JV with Ruby Mills

Oct 21, 12:00 am
Oct 21, 4:14 pm
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