28 Jan, 2012
Indian Realtors plagued by Rs 120,000 cr debt as banks play hardball – Hindustan Times
The (Indian) real estate sector, which has seen a 36% surge in its outstanding debt at Rs 120,000 crore so far in 2011-12, has become a cause for concern to the banking industry.
Most real estate firms including the big daddies such as DLF, Unitech, Parsvnath have sizeable debt on their books. While they are looking to restructure their debts, banks are unwilling to grant them the option, banking industry sources said. Last year, the sector had about Rs 88,000 crore debt.
Editor’s Note: Beware an Indian version of the 1997 Asian economic crisis.
via Realtors plagued by Rs 120,000 cr debt as banks play hardball – Hindustan Times.
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