 "Shapoorji Pallonji | Source: Wikipedia")
With an aim to improving its financial profile, Shapoorji Pallonji and Company Private Limited (SPCPL) plans to reduce its external debt to Rs 6,200 crore by the end of March 2020 from over Rs 7,700 crore in December 2018.
SPCPL, the operating-cum-holding entity and flagship unit of the group, will also liquidate holdings in its land bank amounting to Rs 975 crore in six to nine months.
It has already initiated the process to liquidate land holdings, according to Rating agency CARE Ratings.
The total reported debt of SPCPL on a standalone basis has seen an increase from Rs 6,503 crore in FY16
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