Our target is to reduce the debt at least by about Rs 500 crore, said Namit Malhotra, Founder, Executive Chairman and Global CEO, Prime Focus.

Malhotra said that we do not track our business on quarter-on-quarter basis because we are a massive project run business.

Talking about business, he said, “As we continue to expand our infrastructure and capabilities across India and we opened up a new facility in Montreal - that’s going to continue to drive more revenue and hence more profitability because the execution backend is going to be in India.”

Our consolidated gross debt is about Rs 1,650 crore and net debt is about Rs 1,550, he said.

“We are focused on making sure that our leverage starts to come down and that has been contemplated from driving greater efficiencies in our margins which we will play out and we had also announced that there is an equity investment from the promoter side which is all going down towards debt reduction,” he added.