MUMBAI:Power Finance CorporationNSE 1.79 % plans to resolve 20-30% of its stressed assets worth Rs 28,000 crore over the next four months, chairman Rajeev Sharma told ET.
The state-run lender to power projects expects the upcoming acquisition of Rural Electrification CorporationNSE 2.67 % (REC) to help in and expedite resolution of some stressed assets.
“In the next three to four months, I expect at least 20-30% of my stressed assets will be resolved. There will be a unique solution for each project. We have already made 52% provisioning and we expect that in some cases, there will be reversal of provisioning. Our bad days are over. Now, profits will increase,” Sharma told ET ahead of a press and analyst meet.
