India's second-largest listed developer Unitech is considering spin off non-core businesses that include power, hotels, telecom and special economic zones.

The company is planning to sell the businesses or get private-equity investment, said the paper, quoting an unnamed source familiar with the development.

It did not give the size or timing of the deals. The funds raised through the non-core assets may be used to reduce the company's debt, which stood at 62 billion rupees at December-end, the report said.

The Economic Times