NCC to reduce corporate debt, divest stake in two road assets

NCC, infrastructure and construction company is planning to reduce its corporate debt of Rs 3,900 crore by about 50% during the current financial year. It is in negotiations process for divestment of stake in two road assets, for the debt repayment. With the divestment of stake, the debt will get passed on to the buyer of assets.

The Hyderabad-based company is also planning to rope in strategic partner for its joint venture power project coming up at Krishnapatnam in Andhra Pradesh. As of the financial year end, NCC has total debt of Rs 3,900 crore, including Rs 2,230 crore on standalone basis.