A major real estate developer in Sydney’s western suburbs owes more than $2.7 billion but has just $6.5 million in the bank, new disclosures show.

Bathla Group, once known as Universal Property, mostly builds large housing estates and townhouses, and targets its marketing at new migrants. The company is building hundreds of units in Cabramatta, for instance, in a project that is expected to cost hundreds of millions of dollars.

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