Hindustan Construction Company Ltd plans to sell part of its real estate and infrastructure units, as well as aggressively chase outstanding payments with state-run companies to reduce its debt, a senior executive said.
Chief Financial Officer Praveen Sood said to Dow Jones the company is looking to raise up toRs.5 billion through the stake sales.
Friday, the company said it swung to a consolidated net loss of Rs.1.30 billion in the quarter ended Dec. 31, compared with a net profit of Rs.79.4 million a year earlier.
