Photo by nancyarora2020Mr. Nusli Wadia, chairman of Bombay Dyeing & Manufacturing Co., a textile major, expects to clear off its debt in the next few years through realty business. The current debt on the company is Rs. 1775 cr.
At the company’s 130th annual general meeting, Mr. Wadia told the shareholders that debt has always been a big concern and the company hopes to get free from these debts within 2-3 years. The company expects a good response for its real estate business which might help them become a debt-free company.
Last year, the income from Real estate business doubled to Rs. 562 cr. The company now plans to come up with residential and commercial buildings on the 67 acres of land it owns in Mumbai.
