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Unitech > Company History > Construction & Contracting - Civil > Company History of Unitech - BSE: 507878, NSE: UNITECH


BSE: 507878|NSE: UNITECH|ISIN: INE694A01020|SECTOR: Construction & Contracting - Civil
Oct 18, 15:41
0.01 (2.56%)
VOLUME 874,673
Oct 18, 15:58
0.05 (12.5%)
VOLUME 11,008,615
Company History - Unitech
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 basis:
 - (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
 - 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
 - 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 Tripoli.
 - 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 border.
 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,
 - 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
 - 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.
 -Unitech has given the Bonus in the Ratio of 12:1 
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 -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
 - Unitech - Unitech wireless- Updates on Unitech-Telenor Deal
 - Unitech Ltd has launched Rs. 300 crore venture capital fund to
 raise funds for its slum redevelopment projects in Mumbai.
 - Unitech's development 'Info Park' has been awarded Silver rating by
 the Indian Green Building Council (IGBC)
 - Unitech launched Crestview Apartments in Gurgaon 
 - Mr. Ramesh Chandra, Chairman Unitech Ltd, recognised with the
 Lifetime Achievers' Award for Outstanding Contribution to the Real
 Estate Sector 
 - Unitech launched two new projects in Chennai - Chaitanya and Ekanta
 - Unitech launched Unihomes in Ambala 
 - Unitech ranked amongst the top 15 Fastest Growing Companies 
 - Unitech inaugurated Night Golfing at its luxurious residential
 project in Noida 
 - Unitech launched Exquisite in Noida 
 - Unitech's Infospace in Sector-21, Gurgaon opened a new
 Amenity-Block (with a world-class food-court, fitness club and other
 - Unitech launched Gardens Galleria Mall, Noida 
 - Unitech launched luxury villas in Bangalore.
 -Unitech signs Rs 1,000 cr office leasing agreement with Accenture.
 -Canadian asset management firm Brookfield Assest Management is
 seeking to acquire 100% stake in Unitech Corporate Parks, a London
 Stock Exchange listed Indian focussed real estate investment firm.
Source : Dion Global Solutions Limited
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