India's Shapoorji Pallonji Group has reached an agreement with global private credit lenders to delay a portion of its debt repayment. The company will push back the 18 billion rupees payment due on September 30, 2023, for its unit, Goswami Infratech Pvt., to December 2025.

This decision is part of a broader strategy to manage its financial obligations in the face of challenging market conditions. Venkatesh Gopalkrishnan, director of the group promoter’s office at Shapoorji Pallonji & Co., has confirmed that the firm has already repaid 75 billion rupees in the past two months, using proceeds from recent asset and share sales.

The total outstanding bond amount is 143 billion rupees, which is approximately $1.7 billion, indicating significant financial maneuvering within the conglomerate.