In its quest to lessen its corporate debt, infrastructure and construction company NCC Ltd is currently in the process of divestment of stake in two road projects and phased consolidation for which negotiations are currently under way. In this connection, it will also rope in strategic partner for its joint venture power project coming up at Krishnapatnam in Andhra Pradesh. The Hyderabad-based player passed through rough quarters largely due to high interest rate regime slashing its margins. In spite of this, the company closed the financial year on a positive note and managed to log good numbers for the quarter and the financial year withering tough business environment, Executive Vice-President, Finance, Y.D. Murthy, said, adding that the accent now is on reducing the debt. The company is at advanced stage of finalizing a strategic stake sale deal with an overseas investor for the 1,320-MW power plant which it is executing in Krishnapatnam by way of forging joint ventures.
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