Mumbai: Sitting on a debt pile of over Rs 12,000 crore, infrastructure firm Hindustan Construction Company (HCC) said it is finding it difficult to get buyers for its asset monetisation plan. The company is keen on monetising its non-core assets to generate cash and repay debt.
“To accomplish this, the company has sold operating buildings and some land parcels.
“However, this has been a more difficult task in the current environment where there are hardly any buyers of infrastructure assets, especially those which are under development,” Hindustan Construction Company’s chairman and managing director Ajit Gulabchand said in the annual report of 2015-16. Monetisation of large investments - such as the toll-road projects under HCC Infrastructure - will take a longer time, he said.
