Piramal Enterprises plans to double its loan book by FY28, with a focus on retail loans, according to Chairman Ajay Piramal. The company aims to reduce the size of its wholesale book and lend to mid-sized corporates while exiting its legacy wholesale book. The new loan book will be more granular, with smaller loan sizes and a focus on interest and regular repayments.
A M Naik, one of India Incs longest-serving corporate chieftains, has helmed Larsen & Toubros transformative journey over the decades. He will step down as non-executive chairman on September 30, marking the end of an era at Indias largest engineering services conglomerate. In an interview with Deborshi Chaki, Naik laid down the road ahead and key milestones achieved so far.
"I have transformed myself every few years. A lot of people who know me cannot believe that I am the same person they saw a few years ago. I keep transforming depending on the current and future needs, and I have endeavoured to create L&T as a platform to do national good," said A M Naik.
Bajaj Hindusthan Sugar, one of India s largest sugar and ethanol producers, is looking to turn the corner by putting its debt issues behind. In an interview, chairman Kushagra Bajaj told ET s Deborshi Chaki about the group s plans to infuse fresh equity into the business, which will entail zero haircut for the lenders.
"Sanghi Industries will be a debt-free company after the takeover. Ambuja and ACC combined had a cash balance of roughly Rs 11,800 crore as of Q1. This year, we would be adding another Rs 3,000 crore of free cash after capex, tax and dividends. With the Sanghi Industries acquisition, we would be looking to end this financial year with close to Rs 11,000 crore of cash," said Karan Adani.