The company had a lot of trouble in the past due over leveraged balance sheet. They borrowed aggressively for growth in early 2010s. At the same time, the Hotel Industry witnessed a prolonged slowdown. It was a perfect storm for them. They have managed to wriggle out of trouble only recently
Presently, their Debt levels are down to 350 odd cr from a peak of 700 cr or so in 2012 or 2013
This sale of the hotel asset is a further step towards de-leveraging
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