Ramky Infrastructure Limited has officially exited its decade-long debt restructuring program after executing a Restructuring Exit Agreement (REA) with its lenders. This development marks a major turning point in the company's financial journey and positions it among a small group of Indian infrastructure firms to have completed such a transition.
The firm had initially entered into a Restructuring Agreement (RA) on June 12, 2015, to reorganize a total debt of ₹3,859.81 crores. This figure included both term loans and working capital facilities, which were restructured in coordination with a consortium of lending institutions. By June 2019, Ramky had successfully cleared all restructured term loan obligations, a critical milestone in its path to financial recovery.
The final phase of the company’s restructuring journey was completed on July 11, 2025, when Ramky Infrastructure and its lenders formally executed the REA. This agreement signifies that all of Ramky’s working capital borrowings have been reclassified as “regular” and “standard” assets by the banking institutions involved.
With this formal exit, the company has no outstanding term loans and has regained full financial compliance. It is now expected to see a positive impact on its credit ratings and internal bank assessments, enabling greater access to capital markets and competitive project financing.
This achievement underscores the company’s sustained commitment to prudent financial practices and disciplined execution over the past several years. The management views this transition as a gateway to strategic growth in emerging infrastructure segments, especially in the sustainable development sector.
The financial restructuring process required strong coordination between internal teams and financial stakeholders, as well as the consistent generation of cash flows through project execution and asset monetization. It also demonstrates the lender consortium’s confidence in the company’s turnaround and its long-term operational strength.
In a statement marking the occasion, Mr. Y.R. Nagaraja, Managing Director of Ramky Infrastructure Ltd, said, "We are proud to announce this significant milestone, which reflects the unwavering dedication of our team and the steadfast support of our stakeholders. Entering REA not only fortifies our financial position, but also empowers us to aggressively pursue our strategic objectives in the rapidly expanding sustainable infrastructure market. We are committed to delivering enhanced value to our shareholders and contributing to India's infrastructure development. We extend our sincere gratitude to all the shareholders, investors, lenders, auditors, and other internal and external stakeholders for their invaluable and continued support."
With its balance sheet strengthened, Ramky is now better placed to scale up its operations across road development, environmental engineering, urban infrastructure, and waste management segments. Analysts expect the company to increase its participation in national-level projects under the Bharatmala, Jal Jeevan Mission, and AMRUT 2.0 programs.
The successful exit from the restructuring framework is not only a key internal achievement but may also serve as a case study for other firms seeking to navigate post-restructuring revival through long-term discipline and stakeholder alignment.
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