The ones to go are NEPC Communications, NEPC Cement, NEPC Paper and Boards Ltd and the airline operations, which were part of NEPC India. The group will however retain NEPC Textiles, Agrofoods and wind power operations.

Addressing a media meet here on Thursday, director and spokesperson for the group Tirupathi Kumar Khemka said that the group was confident of finalising the sales deals in nine months and that negotiations were on with various parties. Simultaneously, the group is attempting to strengthen `its inadequate corporate structure'.

The group is entering phase two of its restructuring operations and trying to `build an organisation that will last' after the beating the group took in the last three years.

The company had invested Rs 200 crore in the non-core activities (to be hived off), has debts of Rs120 crore (to NBFCs and FIs) and receivables of Rs 40 crore. It would take at least two to three years for the company to come out of the red, Khemka said.

In phase one of restructuring the group has got its debts rescheduled and has outlined specific plans to settle Rs 30 crore. The remaining Rs 90 crore, which was part of phase two was expected to come from sale of its unencumbered assets. With an additional investment of Rs 12 crore, current assets are estimated to be Rs 110 crore. The airline assets alone were valued at Rs 70 crore, NEPC Communications (which had some equipment and programming software and uplinking rights with VSNL) is expected to bring in Rs 7 crore and the group is striving hard to improve receivables.

NEPC Textiles has achieved break even and the 25,000 spindles are being put to 100 per cent capacity utilisation, according to Khemka. Likewise the Trupthi brands of atta, maida and sooji of the agrofoods segment have made a come back to the retail shelves.

In the south, NEPC Foodshad a market share of 30 per cent and the products were well received in pockets of Bengal and Madhya Pradesh, Khemka said. This year, Trupthi will be available in the northern markets as the company had tied up its distribution network.

The three flour mills in the north which were idle would become operational to cater to the new markets. Its mineral water earlier available in bottles would also be sold in jerry cans.

On the wind energy front, there were enquiries in the market for a 1000 mw and NEPC hoped to corner a sizeable chunk of the demand. The group is not looking at capital restructuring at the moment.