“We are looking to control capex so that it will

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canada goose uk shop The average cost of borrowing in GCC region is 6 percent, while in India is around 9.5 percent,” said Sreenath Reddy. Group CFO, Aster.The company’s India debt is around Rs 350 crore.But Reddy said the company is looking at ways to reduce borrowing.”We are looking to control capex so that it will enable us to have additional cash from operations to repay the debt,” Reddy said.The company has spent Rs 761 crore as capex until December 2019, which was higher than the guidance of Rs 580 crore it provided at the beginning of the year. The company said the capex shot up due to acquisitions.However Aster said it will be lowering its capex to around Rs 450 in FY21.Aster also said it has turned more conservative with taking up new projects and acquiring hospitals.”So one important decision that we have taken looking at the market expectations is that in the next three years we will be very very selective on new projects, and only take up projects that are EPS accretive,” said Moopen.Aster said the cost optimisation initiatives across the group had helped it to save around Rs 25 30 crore in FY20. canada goose uk shop

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