Which Indian companies may be affected by Dubai crises...

Some Indian listed companies have exposure to the Dubai economy and its once-booming real estate business.


 Nagarjuna Construction
The company has only one venture in Dubai, a 440-apartment project, and is going slow on it.
The company is also doing a Rs 100-crore water pipeline project at Dewa, Dubai. There is no default payment problem at the Dewa project. The company’s Middle-East exposure is mostly to government-owned agencies.

Larsen & Toubro
Larsen & Toubro has exposure in multiple segments in Middle East, The company has exposure in the hydro-power segment. The total exposure to the Middle-East over the last two years is to the tune of USD 200 million.

Punj Lloyd
The infrastructure player has no exposure to Dubai or real estate exposure in UAE, they are doing only oil & gas projects in Abu Dhabi where there are no concerns at all.

Voltas
The company is executing a Rs 900-crore project in Dubai as part of a joint venture where Voltas has 37% stake. “They say that the project for Emaar and the client has fully funded the project. Thus, they are not anticipating any delays. their order book is primarily from Abu Dhabi and Qatar. Dubai also has not defaulted on any of our payments.

Bank of Baroda
Bank of Baroda has some real estate exposure to Dubai accounting to 5–6% of its loan book. Interest on all loans in Dubai have been paid till last due. Bank of Baroda has 10 branches in the Gulf region. It has small banking exposure, mainly for remittances in the region.

Unitech
The company said it had not exposure to Dubai real estate.

DLF
DLF has no exposure to Dubai, it said.

Indiabulls Real Estate
The company does not have any direct/indirect investment in Dubai. 

Omaxe
Omaxe is likely to exit its two real estate projects in Dubai. They had planned a Rs 2,850 crore investment in Dubai, out of which they have already paid Rs 50 crore to Nakheel as first instalment and may seek refund if they exit the Dubai project.
HDIL
HDIL has no exposure to Dubai, it said.

SpiceJet
Dubai World’s investment arm, Istithmar, holds 13% stake in SpiceJet

Aban Offshore
The oil exploration company has deployed six rigs in West Asia.