GIPL said post the transaction the consolidated debt of the company will be reduced from Rs 3,947 crore to Rs 2,229 crore, which is expected to improve the gearing of company at consolidated level from more than 4 times to around 2 times going forward and make company net cash surplus.
Kishor Kumar Mohanty, MD of Gammon infrastructure, discusses company's earnings for the fourth quarter and its future outlook.
In the December quarter, Gammon Infra received arrears worth Rs 35 crore on account of a project, says MD Kishor Kumar Mohanty
Discussing the details of the deal, Kishor Kumar Mohanty, MD, Gammon Infrastructure, said it makes an investment sense for both parties as Sadbhav was a minority stakeholder.
Because of the negative economic environment, it will be difficult for banks to fund the large ticket infrastructure projects.
In an interview to CNBC-TV18, Kishor Kumar Mohanty, MD, Gammon Infrastructure projects speaks about the Land Acquisition Bill and why it needs to be implemented properly.