Lanco Infratech Limited (LITL) has approached the corporate debt restructuring (CDR) cell for restructuring R7,500 crore of its working capital, short-term loans and non-fund based limits.

The CDR proposal, the company said on Saturday, is only for LITL as a stand-alone entity and does not involve any of its subsidiaries or special purpose vehicles.

An integrated infrastructure developer, LITL has businesses in engineering, procurement and construction (EPC), power, natural resources, solar and infrastructure. It is also engaged in doing business through various subsidiaries and special purpose vehicles. ?LITL has engaged consultants and had wide consultations with bankers on the current prevailing conditions in the country and sought support from the bankers to restructure its entire LITL portfolio only,? the statement read. The company also sent notice to the stock exchanges informing of its proposed CDR.

Of the R7,500 crore, LITL has fund-based exposure of working capital and short-term loans to the tune of R3,200 crore while non-fund based limits stand at R4,300 crore.

With the proposed restructuring, LITL expects to bring back the EPC revenues to about R10,000 crore per annum and also ensure timely completion of all its existing ongoing projects, amounting to 4,636 MW, and efficiently mitigate the expansion plans of Griffin Coal. ?The current restructuring proposal will also address the timely development of 6,240 MW capacity in the pipeline and more effective operation of the existing 4,732 MW capacity,? it said.

The company said that the adverse macro-economic situation in India over the last 12 months has affected LITL?s EPC business as well as the subsidiary business.

Its power subsidiaries, with an installed capacity of about 1,000 MW, had a profit of R740 crore in FY11, the statement said. ?Today, in spite of enhancing the capacity five-folds to 4,732 MW, it has incurred a loss of R671crore in FY13, as against the estimated profit after tax of R3,475 crore for the year.?

Similar is the case with LITL?s EPC revenues, which have nearly halved to R4,741 crore in the last financial year against R8,600 crore in FY12.