IL&FS addresses debt of 43K cr so far; ups recovery estimate to 61K cr

The new board of Infrastructure Leasing and Financial Services (IL&FS) on Thursday revised the aggregate debt recovery estimate by the group to Rs 61,000 crore, or about 62 per cent of overall debt of over Rs 99,000 crore as of October 2018. “The group has also enhanced its estimates of aggregate debt recovery to Rs 61,000 crore — an increase of Rs 5,000 crore over its earlier estimate,” said Uday Kotak, Chairman of the board of IL&FS.

The new board, that took over the crisis-hit infrastructure group two and a half years ago, had earlier estimated a recovery of Rs 56,000 crore.

Kotak said the management has addressed a debt of Rs 43,000 crore till April 15 — nearly 77 per cent of the revised recovery target — and it aims to address debt of another Rs 8,000 crore by September.