Unitech says has no exposure to Dubai

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Unitech Ltd , India's No. 2 listed real estate firm, has no exposure to Dubai, its Managing Director Sanjay Chandra said on Friday.

"We have no business or exposure to either business from Dubai, nor any borrowings from Dubai," he told Reuters.

Shares in the company were down 4.3% at 74 rupees by 0511 GMT in a Mumbai market that had fallen 2.3%. Shares in Unitech's bigger rival DLF were down 5.1% at Rs 336.20.

Earlier, a DLF spokesman said the company had no exposure to Dubai.