Ratings firm Crisil has raised its estimates for corporate debt restructuring (CDR) by more than sixty per cent in just around five months, portraying a poor picture the financial health of companies.

Crisil raised the CDR estimate to Rs 3.25 lakh crore for this fiscal, 63 per cent up from its five-month old estimate of Rs 2 lakh crore.

The ratings company said that the worst hit would be the state utilities, construction companies and infrastructure builders because they are not getting required loans from Indian lenders.

Pawan Agrawal, senior director of Crisil, said that the companies are under aggravating refinancing and liquidity pressure as banks are hesitating in providing them with unsecured short-term loans.

The report by Crisil added, "Inability to raise adequate equity is straining the balance sheets and financial flexibility of developers in infrastructure and construction sectors, resulting in an increased likelihood of restructuring."

Overall economic growth has collapsed to just around 5 per cent, the lowest in the last 9 years. High rate of interest is also adding to distress of corporate companies

As per available figures, loans of Rs 1.6 lakh crore have already been restructured in the current fiscal. The list of big corporates, which got their debts restructured, includes construction giant HCC and Hotel LeelaVentures.