Bombay Dyeing plans to halve debt in 2 years

摘要

Bombay Dyeing, the textile arm of Nusli Wadia Group, plans to halve its Rs 1,200 crore debt in next two years from cash accruals and developing two 60-storied residential towers at Dadar in Mumbai. The company will utilise less than one-fourth of the 40-acre vacant plot made available by moving out its mill from heart of the city. Mr Durgesh Mehta, Joint Managing Director, Bombay Dyeing, said the company is waiting for final approval from the authorities concerned for launching the Dadar project, which would entail an investment of Rs 600 crore.