Lanco Infratech is planning to sell 3000 MW assets to raise Rs 5,000 crore cash and to reduce the additional debt of Rs 15,000 crore. Since last one year, the company has been working on each of the projects to settle the issues and bring back viability. With all these measures as well as in the background of CDR approval and various meetings with bankers and strategic partners, the company is confident of driving the Group into same level of profitability again.
Until FY 2011-12 profits making by the Group has been excellent. With the generating capacity of 1000 MW in the FY 2011-12, Lanco had a profit of Rs 740 crore but, by FY 2013 - 14 despite enhancing the capacity by five folds to 4732 MW it has incurred a loss of Rs 671 crore against the estimated PAT of Rs 3,475 crore for the year FY 2013 due to the adverse impact of the prevailing macro-economic conditions.
Lanco Infratech is the leading integrated infrastructure conglomerate with global footprints having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure.
