Construction companies are planning to sale assets to reduce debt
In the global economic downtime, the companies in India are planning to sale their non-core and core assets to reduce the debt burden.
Companies from all sectors like lifestyle, telecommunication, retail, real estate are walking in the same direction.
We can see several movements taken by the DLF builder to sell its land bank and some of its stake in the asset management joint venture with Prudential Financial. The group is also looking at raising cash by selling its hotel asset.
DB Realty is looking at getting investors in some of its projects in Mumbai.
GMR group has managed to get investors into its airports and power business in the last two years. It also went through the cycle of buying 50% stake in Dutch power company Intergen in 2008, and sold it in 2010 at a small profit.
Anil Ambani’s Reliance Group has also been in the market to sell 26% stake in its telecom company.
Future Group is also known to be looking to sell investments in joint ventures and non-core businesses like Future capital and insurance business.
More related stories:
ICICI Bank, Indiabulls eyeing for Parsvnath Land
DLF on plans to sell Noida plots to Bharti Realty
Source: Business Standard
Great information about the latest updates in the construction companies of India.