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Piramal to pare Rs 1,000 crore of Lodha Developers debt in Q1FY20

Reports on Wednesday said Piramal is in talks with Goldman Sachs to sell Rs 2,000 crore worth of Lodha loans

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Piramal’s exposure to Lodha has come down from Rs 4,300 crore as of September-end 2018 to Rs 3,800 crore in December 2018

2 min read Last Updated : May 29 2019 | 9:02 PM IST

Piramal Capital & Housing Finance is looking to reduce its Rs 1,000 crore of loan exposure to Lodha Developers in the first quarter of the financial year 2019-20 (Q1FY20).

“As part of our recent annual results, we had announced that we would look to systematically bring down our single borrower exposure to Lodha Developers. In line with that focus, Rs 1,000 crore will be reduced within this quarter itself,” a Piramal spokesperson said. “In addition, we have also received prepayments/repayments of Rs 200 crore YTD (year-to-date),” the spokesperson said.

Reports on Wednesday said Piramal is in talks with Goldman Sachs to sell Rs 2,000 crore worth of Lodha loans. However, the company spokesperson did not comment on the matter.