Indian real estate firm Unitech Ltd will make an announcement regarding a stake sale in its telecoms business next week, Managing Director Sanjay Chandra told.

Unitech was in talks to sell a stake in the telecom venture to Norwegian telecom group Telenor.

Unitech is scheduled to announce its second quarter results on Oct 31.

Chandra said the firm expected revenue and profits to grow “upwards of 20 pct” in the financial year 2008/09.