Unitech Limited (UNITECH)
₹3.93 -1.01% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Unitech's revenue was ₹106 Cr (+1.0% year on year, -18.5% on the previous quarter), and net profit ₹-703 Cr (a smaller loss than a year earlier); the operating margin was 5.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹106 | +1.0% | -18.5% |
| Operating profit | ₹6.1 | from loss | -97.4% |
| Net profit | ₹-703 | loss narrowed | loss widened |
| EPS (₹) | -2.18 | loss narrowed | loss widened |
| Operating margin | 5.8% | — | — |
UNITECH delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 76.18% of the UNITECH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 60.36%. The price fell 1.01% on that unusually high delivery, the pattern the delivery dashboard labels distribution. Volume was 0.5 times its average, well below normal.
Delivery in the last 5 sessions: 57.1% · 66.5% · 39.1% · 54.0% · 76.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Unitech Limited has submitted a clarification to the National Stock Exchange regarding its unaudited financial results for the quarter ended June 30, 2026. The exchange had raised a query concerning results being signed by a director only. The company confirmed that Director Dr. Girish Kumar Ahuja was duly authorized by the Board of Directors in their meeting on August 13, 2026, pursuant to Regulation 33(2)(b) of SEBI LODR Regulations.
- Clarified query raised by NSE via email dated September 16, 2026
- Results pertain to the quarter ended June 30, 2026
- Dr. Girish Kumar Ahuja was authorized by the Board at its meeting on August 13, 2026
- Compliance affirmed under Regulation 33(2)(b) of SEBI LODR Regulations
Unitech Limited has issued a notice convening its 55th Annual General Meeting (AGM) on September 24, 2026, at 11:00 AM IST via Video Conferencing/Other Audio-Visual Means. The company submitted the formal AGM notice alongside the Annual Report to exchanges on August 31, 2026. This is a routine administrative compliance filing with no operational or financial updates disclosed in the intimation.
- 55th Annual General Meeting scheduled for September 24, 2026
- Meeting to be conducted at 11:00 a.m. through VC / OAVM
- Notice of AGM and Annual Report submitted to stock exchanges on August 31, 2026
Unitech Limited has appointed Sh. Giridhar Aramane, IAS (Retd.), former Union Defence Secretary, as its Chairman & Managing Director for a 2-year term effective August 25, 2026. The appointment follows orders by the Supreme Court on August 17, 2026, and the Ministry of Corporate Affairs (MCA) on August 19, 2026. He succeeds Sh. Yudhvir Singh Malik, whose term expired on July 20, 2026, and will receive a consolidated pay of ₹5 lakh per month plus leased accommodation. This leadership change is critical as the government-appointed board manages the resolution of extensive liabilities and stalled housing projects.
- Sh. Giridhar Aramane appointed as CMD for a period of 2 years starting August 25, 2026
- Appointment approved under Supreme Court order dated August 17, 2026, and MCA order dated August 19, 2026
- Succeeds previous CMD Sh. Yudhvir Singh Malik, whose tenure concluded on July 20, 2026
- Prescribed remuneration fixed at ₹5 lakh per month consolidated pay plus company-leased accommodation
Unitech's Q1 FY27 results are marked by a 'Disclaimer of Conclusion' from auditors, indicating that the financial statements may not be reliable due to massive unreconciled accounts. The company's survival remains entirely dependent on a Resolution Framework (RF) pending Supreme Court approval since 2020 to restructure Rs 36,138 Cr in liabilities. Significant financial risks include Rs 4,504.97 Cr in unreconciled loans to subsidiaries and Rs 524.35 Cr in overdue public deposits. The auditor specifically highlighted the absence of impairment testing for investments worth Rs 972.14 Cr, which is nearly double the company's TTM revenue.
- Auditor issued a 'Disclaimer of Conclusion' for the quarter ended June 30, 2026, citing inability to verify accounts.
- Management failed to conduct impairment assessment for investments in subsidiaries and JVs totaling Rs 972.14 Cr.
- Unreconciled loans and advances to subsidiaries and associates stand at a massive Rs 4,504.97 Cr.
- Overdue public deposits of Rs 524.35 Cr remain unpaid, with no interest provisioned for the current quarter.
- Resolution Framework (RF) remains pending with the Supreme Court, with the last revision filed on April 27, 2022.
Unitech Limited submitted a clarification to the NSE regarding its FY26 financial results, providing a signed 'Statement of Impact of Audit Qualifications'. The company reported a massive standalone net loss of Rs 1,790.05 crore for the year ended March 31, 2026, with a deeply negative net worth of Rs 5,696.43 crore. Statutory auditors have issued a 'Disclaimer of Opinion' for the sixth consecutive year, citing material uncertainties about the company's ability to continue as a going concern. The company's survival remains entirely dependent on the Supreme Court's approval of a Resolution Framework that has been pending since 2020.
- Standalone net loss for FY26 reached Rs 1,790.05 crore, representing approximately 350% of TTM revenue.
- Total liabilities stood at Rs 22,148.20 crore, which is roughly 15 times the company's current market capitalization.
- Auditors issued a Disclaimer of Opinion for the 6th consecutive year due to the unapproved Resolution Framework.
- Management failed to conduct impairment assessments for investments totaling Rs 972.12 crore in subsidiaries and JVs.
- The company wrote off obsolete items with a gross value of Rs 30.64 crore during the third quarter of FY26.
Unitech Limited has announced the end of tenure for its Chairman & Managing Director, Sh. Yudhvir Singh Malik, effective July 20, 2026. Mr. Malik was appointed by the Ministry of Corporate Affairs (MCA) in January 2020 following Supreme Court orders to oversee the company's resolution. As of the announcement, the MCA has not named a successor, creating a leadership vacuum in a company currently managing Rs 5,106 Cr in debt and a negative net worth of Rs 5,697 Cr. This transition occurs while the company is still awaiting Supreme Court approval for a Resolution Framework involving Rs 36,138.71 Cr in liabilities.
- Tenure of Sh. Yudhvir Singh Malik as CMD ended on July 20, 2026, after a final 6-month extension.
- Original appointment was made by the MCA on January 21, 2020, following a Supreme Court order dated January 20, 2020.
- The company has not yet received communication from the MCA regarding the appointment of a new CMD.
- Unitech is currently attempting to restructure total liabilities amounting to Rs 36,138.71 Cr.
- The company reported a massive net loss of Rs 3,018 Cr over the trailing twelve months (TTM).
Unitech Limited held a board meeting on July 16, 2026, to approve the re-appointment of its auditing firms. M/s GSA & Associates, LLP has been re-appointed as Statutory Auditors for a second consecutive 5-year term, spanning from the 55th to the 60th AGM, subject to shareholder approval. Additionally, M/s Pant S. & Associates was re-appointed as Cost Auditors for FY 2026-27. These administrative steps occur while the company remains in severe financial distress, reporting a TTM net loss of ₹3,018 Cr and a negative net worth of ₹5,697 Cr.
- Re-appointment of M/s GSA & Associates, LLP as Statutory Auditors for a 5-year term starting from the 55th AGM.
- Re-appointment of M/s Pant S. & Associates as Cost Auditors for the financial year 2026-27.
- Board meeting conducted efficiently within a 20-minute window (11:30 a.m. to 11:50 a.m.).
- Statutory Auditor lead partner noted as Sh. Amarjit Chopra, an Ex-President of ICAI.
Unitech Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the company's Registrar and Share Transfer Agent, Alankit Assignments Ltd, processed all dematerialization requests within the mandated 15-day period for the quarter ended June 30, 2026. This is a standard administrative requirement for listed companies and does not impact the company's underlying financial position or its ongoing legal restructuring process.
- Compliance certificate issued for the quarter ended June 30, 2026
- Securities received for dematerialization were processed and cancelled within 15 days
- Registrar and Share Transfer Agent (RTA) confirmed as Alankit Assignments Ltd
- Company continues to report a negative net worth of Rs -5,697 Cr as per latest context
Unitech Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, regarding the upcoming un-audited financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the financial results are officially declared to the exchanges. The specific date for the Board meeting to approve these results has not yet been determined and will be communicated later.
- Trading window closure commences on Wednesday, July 1, 2026.
- Closure is related to the un-audited financial results for the quarter ended June 30, 2026.
- The window will reopen 48 hours after the public declaration of the financial results.
- The date for the Board meeting to approve the Q1 results is yet to be intimated.
- The notification applies to all Designated Persons and their immediate relatives under SEBI regulations.
Unitech Limited has announced the resignation of its Chief Financial Officer, Mr. Tajinder Pal Singh Madan, effective from the close of working hours on May 29, 2026. The Board of Directors accepted the resignation during their meeting on May 28, 2026, which concluded at 2:00 p.m. The outgoing CFO cited personal reasons necessitating a move out of Gurugram as the cause for his departure. The company has explicitly stated that there are no other material reasons for this resignation.
- Resignation of CFO Tajinder Pal Singh Madan effective May 29, 2026
- Board meeting held on May 28, 2026, to accept the resignation
- Reason cited is personal relocation from Gurugram
- Company confirms no other material reasons exist for the exit
Unitech Limited's audited financial results for FY26 are marked by a 'Disclaimer of Opinion' from auditors, citing a lack of sufficient evidence for asset valuations and legacy liabilities. The company faces severe material uncertainty as a going concern, with its net worth eroded and a Resolution Framework still pending Supreme Court approval. Major issues include unassessed impairments of ₹972.12 crore in subsidiaries and ₹4,508.43 crore in loans to subsidiaries lacking loss allowance data. Additionally, statutory dues of over ₹84 crore remain unpaid, highlighting ongoing liquidity and legal challenges.
- Auditors issued a Disclaimer of Opinion, unable to verify the accuracy of the financial statements.
- Material uncertainty regarding 'Going Concern' status due to eroded net worth and continuous losses.
- Lack of impairment assessment for investments in subsidiaries and joint ventures worth ₹972.12 crore.
- Loans and advances to subsidiaries totaling ₹4,508.43 crore lack required loss allowance evidence.
- Unpaid statutory dues include ₹79.29 crore in Income Tax and ₹5.00 crore in Provident Fund.
Mrs. Uma Shankar, a Central Government nominee director appointed under Supreme Court mandate, resigned from Unitech's board effective March 07, 2026, citing personal reasons. The Ministry of Corporate Affairs (MCA) formally acknowledged the resignation on March 25, 2026, and also noted that another potential nominee, Ms. Rasika Chaube, declined to join the board. The company admitted to a significant delay in reporting this change to the stock exchanges, filing the disclosure only on April 24, 2026. As Unitech remains under court-supervised management, any changes to its government-appointed board are critical for oversight stability.
- Mrs. Uma Shankar resigned as Nominee Director (Non-Executive) effective March 07, 2026.
- The Ministry of Corporate Affairs (MCA) issued a formal order regarding the resignation on March 25, 2026.
- Disclosure to stock exchanges was delayed until April 24, 2026, which the company attributed to oversight.
- Proposed nominee Ms. Rasika Chaube declined to join the board due to her role in the Armed Forces Tribunal.
- The board remains under Supreme Court-mandated independent management since January 2020.
Unitech Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by its Registrar and Share Transfer Agent, Alankit Assignments Ltd., confirms the processing of dematerialization requests for the quarter ended March 31, 2026. It verifies that share certificates received were mutilated and cancelled after due verification within the prescribed 15-day period. This is a standard procedural filing required for all listed entities in India to ensure accurate shareholding records.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Registrar Alankit Assignments Ltd confirmed processing of all dematerialization requests.
- Securities were mutilated and cancelled within 15 days of receipt as per SEBI norms.
- The name of the depository has been updated in the company's records as the registered owner.
- Confirms that dematerialized securities are listed on the relevant Stock Exchanges.
Unitech Limited has responded to queries from NSE and BSE regarding significant recent movements in its share price. The company stated it has no undisclosed material information and is currently managed by a Board appointed by the Central Government under Supreme Court oversight. The management attributed the price movement to improved stakeholder confidence as the company has begun awarding contracts for projects stalled for over 6-7 years. Construction has already commenced on several pan-India projects, which the company believes is driving market positivity.
- Responded to NSE and BSE surveillance queries regarding significant price and volume movement in April 2026
- Confirmed that construction has resumed on several projects that were stalled for 6 to 7 years
- Company is operating under a Board appointed by the Central Government per Supreme Court orders dated 20.01.2020 and 25.02.2026
- Maintained that all material information is being disclosed regularly via the company website and regulatory filings
- Attributed stock volatility to market conditions and renewed stakeholder confidence in the recovery process
Unitech Limited has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI insider trading regulations. This closure is a standard procedure ahead of the declaration of the audited financial results for the quarter and full year ending March 31, 2026. The window will remain closed for all designated persons until 48 hours after the results are officially announced to the exchanges. The specific date for the Board meeting to approve these results will be communicated at a later time.
- Trading window closure scheduled to begin on Wednesday, April 1, 2026.
- Closure is related to the audited financial results for the quarter and year ending March 31, 2026.
- The window will reopen 48 hours after the financial results are declared.
- Compliance is maintained under SEBI (Prohibition of Insider Trading) Regulations, 2015.
- The date for the Board meeting to approve the results is yet to be intimated.
Financial Performance
Revenue Growth by Segment
Consolidated revenue for H1 FY26 was INR 268.16 Cr. Segment contributions: Real Estate & Related Activities INR 155.45 Cr (58% of total), Property Management INR 98.60 Cr (36.8%), Hospitality INR 13.61 Cr (5.1%), and Investment & Other Activities INR 0.50 Cr (0.1%).
Geographic Revenue Split
100% of revenue is generated within India, representing a single geographical segment.
Profitability Margins
Net Profit Margin is severely negative at -550.94% for H1 FY26, with a net loss of INR 1,477.38 Cr on revenue of INR 268.16 Cr. This is driven by massive finance costs exceeding total revenue by 5.5x.
EBITDA Margin
Operating loss before working capital changes was INR 9.28 Cr for H1 FY26, representing an EBITDA margin of -3.46%.
Capital Expenditure
Capital expenditure for H1 FY26 was INR 1.95 Cr, primarily for the purchase of Property, Plant, and Equipment including capital work in progress.
Credit Rating & Borrowing
Not disclosed in available documents; however, the company is in NPA status with penalties on NPA accounts totaling INR 752.80 Cr and current borrowings of INR 7,378.20 Cr.
Operational Drivers
Raw Materials
Steel, cement, bricks, and sand, which are standard for real estate construction and development.
Import Sources
Sourced domestically within India.
Key Suppliers
Primarily MSME vendors and construction service providers.
Capacity Expansion
Not disclosed in terms of units; operations are focused on completing stalled projects rather than expanding new capacity.
Raw Material Costs
Not disclosed as a specific percentage of revenue due to the stalled nature of construction projects.
Manufacturing Efficiency
Not applicable for real estate development; however, the company is focused on verifying maintenance charges and mapping resident payments.
Strategic Growth
Growth Strategy
Growth is entirely dependent on the Supreme Court's approval and implementation of the Resolution Framework (RF), which aims to restructure INR 36,138.71 Cr in total liabilities and restart stalled residential and commercial projects.
Products & Services
Residential apartments, commercial office spaces, hotel services, and property management services.
Brand Portfolio
Unitech
Strategic Alliances
The company operates through 185 Indian subsidiaries, 17 Joint Ventures, and 4 Associates.
External Factors
Industry Trends
The Indian real estate sector is consolidating toward organized, reliable developers; Unitech is currently positioned as a distressed asset awaiting a government-led turnaround.
Competitive Landscape
Key competitors include DLF, Godrej Properties, and Macrotech, who are capturing market share while Unitech's projects remain stalled.
Competitive Moat
Historical moat was a large land bank, but this is currently unsustainable due to a negative net worth of INR 9,679.79 Cr and massive litigation.
Macro Economic Sensitivity
Highly sensitive to interest rate fluctuations due to INR 7,378.20 Cr in current borrowings and judicial outcomes regarding the Resolution Framework.
Consumer Behavior
Homebuyers have shifted preference toward developers with high execution certainty, negatively impacting demand for Unitech's legacy projects.
Geopolitical Risks
Low, as operations are 100% domestic within India.
Regulatory & Governance
Industry Regulations
Operations are governed by the Real Estate (Regulation and Development) Act (RERA) and specific Supreme Court mandates that superseded the previous Board of Directors.
Taxation Policy Impact
The company has not recognized deferred tax assets due to a lack of reasonable certainty regarding future taxable profits.
Legal Contingencies
Total contingent liabilities of INR 9,050.16 Cr, including claims from the Noida Authority (INR 3,006.08 Cr), NPA penalties (INR 752.80 Cr), and corporate guarantees (INR 1,413.43 Cr).
Risk Analysis
Key Uncertainties
The primary uncertainty is the Supreme Court's approval of the Resolution Framework, which is critical for the company to remain a going concern.
Geographic Concentration Risk
100% revenue concentration in India.
Third Party Dependencies
Critical dependency on the Supreme Court of India and the Government of India for operational and financial restructuring.
Technology Obsolescence Risk
Low risk in core real estate, but the company faces challenges in digitalizing and verifying legacy maintenance and financial records.
Credit & Counterparty Risk
Trade receivables of INR 8.45 Cr in H1 FY26 represent a risk given the company's distressed operational status.
