Sanjiv Goenka in Calcutta on Thursday. (PTI)

Calcutta, Oct. 29: CESC Ltd is expecting the financial closure of the Chandrapura project in Maharashtra in the next 10 days. This will be a significant step in the implementation of the 600MW project.

The flagship company of RPG Enterprises had acquired the power project, its first buyout so far, from the Manikchand group for Rs 200 crore in August. ICICI Bank is the lead banker to tie up a Rs 2,800-crore loan for the project, which has a 7:3 debt-equity ratio.

Sanjiv Goenka, vice-chairman of RPG Enterprises, said the company would be able to generate the equity component internally. “We don’t need to raise equity. However, I am not ruling out that option either,” Goenka said.

According to Goenka, the new generation facility at Budge Budge will be commissioned by the end of this quarter, but the ramp-up of the Haldia project is held up for want of 40 acres of land.

CESC is also in talks with three private equity players to divest up to 20 per cent in Spencer’s Retail.

The company’s net profit was flat at Rs 126 crore in the third quarter, while net sales grew to Rs 949 crore from Rs 755 crore a year ago.

Emami show

Emami’s consolidated turnover (including Zandu) grew 65.7 per cent to Rs 212 crore in the second quarter.

Despite a rise in interest expenses by Rs 8 crore, profit after minority interest grew 71.2 per cent to Rs 23 crore during this period.