Unitech Ltd's Forthcoming Announcement
Indian real estate major Unitech Ltd is set to make a significant announcement pertaining to the sale of a stake in its telecom business as early as next week. This revelation was shared by the company's Managing Director, Sanjay Chandra.
Background on the Stake Sale
Prior to this announcement, Unitech Ltd was engaged in discussions with the Norwegian telecom giant Telenor, concerning the potential sale of a stake in its telecom venture. The specifics of this deal, including the percentage of the stake and the financial details, are expected to be unveiled next week.
Upcoming Q2 Results Announcement
In addition to the stake sale announcement, Unitech Ltd is scheduled to declare its second-quarter results on October 31. This highly anticipated release will provide stakeholders with a comprehensive update on the company's financial performance during the period.
Projected Financial Performance for FY 2008/09
Offering insight into the company's financial outlook, Managing Director Sanjay Chandra expressed optimism about the fiscal year 2008/09. According to Chandra, Unitech Ltd anticipates robust growth, with both revenue and profits expected to increase by 'upwards of 20 percent'. This positive projection underscores the company's confidence in its strategic initiatives and the prevailing market conditions.