Gayatri Projects update on debt position

Gayatri Projects announced that it has monetised its stake in power assets of SembCorp Energy India and the proceeds for the same have been used for repayment of long term debt and for easing the working capital situation to fast track execution.

The Government of India in November approved measures to Fast-track the monetisation of Central Government Arbitral Awards and hence the company is now at an advanced stage of monetising its arbitration awards worth in excess of Rs 900 crore; the proceeds from the same would be used towards de-leveraging. Subsequently the Company would regularise its accounts in the current quarter.

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