NEW DELHI – India’s Hindustan Construction Company Ltd. plans to sell part of its real estate and infrastructure units, as well as aggressively chase outstanding payments with state-run companies to reduce its debt, a senior executive said.
Chief Financial Officer Praveen Sood said the company is looking to raise up to 5 billion rupees through the stake sales.
Friday, the company said it swung to a consolidated net loss of 1.30 billion rupees in the quarter ended Dec. 31, compared with a net profit of 79.4 million rupees a year earlier.
Source: http://blogs.wsj.com/dealjournalindia/2012/01/23/hindustan-construction-plans-to-sell-part-of-stake-in-real-estate-infra-units/
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