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Unitech to raise $1 bln from PE funds

Unitech Ltd , India's second-largest listed real estate firm, will raise about $1 billion from private-equity funds in the next one year for its projects, its managing director said on Friday.

Sanjay Chandra told reporters Unitech would raise $350 million in the next 3-4 months for a hotel project and $700-800 million for residential and commercial projects in Mumbai in the next one year.(Reuters)

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