Saya Group's Financial Milestone: Clearing Rs 1,500 Crore Debt

Saya Group has eliminated Rs 1,500 crore in debt over five years, demonstrating strong financial discipline. This includes settling loans and credit lines from key financial institutions. Moving forward, Saya Group is investing Rs 550 crore into a new luxury housing project in Ghaziabad.

Saya Group has successfully cleared a substantial Rs 1,500 crore in debt spanning over five years, showcasing its robust financial strategies and commitment to stakeholders. The debt comprised various financial instruments, including term loans and non-convertible debentures, from major financial institutions like IIFL Finance Ltd, YES Bank, and 360 One.

Despite not disclosing its current debt levels, Saya Group's Managing Director, Vikas Bhasin, highlighted this milestone as a testament to the company's financial health and project execution capabilities. Their efforts to reduce borrowing underline their dedication to maintaining strong financial fundamentals.

In addition to debt clearance, the company announced a joint venture to initiate a luxury residential project, 'The Horizon Residences,' in Ghaziabad. The project, involving a significant investment of Rs 550 crore, marks a strategic expansion in its sizable real estate portfolio totaling over 4.99 lakh sq metres.

(With inputs from agencies.)