Cash-strapped Unitech extends CEO’s contract by a year.

Real estate developer Unitech Ltd has approved a one-year extension of Chief Executive Officer Ashok Kumar Yadav’s tenure, even as the company continues to face acute financial stress and project delays.

In a regulatory filing, the Gurugram-based firm said its board had cleared the extension at a meeting held last month. Yadav’s renewed term will take effect from February 11, 2026, or until further orders, whichever is earlier.

The decision comes at a critical juncture for the embattled property developer, which is battling a severe cash crunch. The liquidity strain has led to significant delays in completing housing projects, particularly across the Delhi-NCR region, where thousands of homebuyers have been awaiting delivery.

Unitech has been operating under a government-appointed board since 2020, after the Supreme Court directed the supersession of its previous board. The Ministry of Corporate Affairs had proposed the reconstitution of the board, which the apex court approved on January 20, 2020.

Since then, the company has been attempting to stabilise operations, revive stalled projects and address mounting liabilities. However, progress has been uneven, with funding constraints continuing to hamper construction timelines.

The extension of Yadav’s tenure signals continuity in leadership at a time when the company remains under regulatory and judicial oversight. It also suggests the board’s intent to maintain management stability as it navigates operational restructuring and funding challenges.

Unitech’s ability to restore buyer confidence and accelerate project execution will be closely watched over the coming year. Much will depend on its success in unlocking liquidity and resolving legacy issues that have weighed on the once-prominent real estate developer.