The Tata Group has total debt exceeding Rs1,00,000 crore in the current fiscal, but seems comfortable on the liquidity front, according to a brokerage report.

The group's overall outstanding debt rose from over Rs30,000 crore a year ago by another Rs70,000 crore, due primarily to aggressive capital expenditure plans and past acquisitions, the report said.

''We expect the total debt of the Tata Group as of end-FY'09 (ending March 2009) at over Rs1 trillion, of which Rs117 billion is due through March 2010,'' analysts at brokerage unit of the Kotak Group said.

The Tata Group, however, said these are aggregates for stand-alone companies and these companies are evaluated as separate entities by the group.

Analysts also said Tatas' funding plans are manageable and debt obligations could be met through cash flow generated at various group companies and proceeds from the stake sale by holding company Tata Sons.

''We believe the group's liquidity position is comfortable at an aggregate level," Kotak Institutional Equities Research analysts said, adding that possible fund-raising options include monetising Tata Motors' commercial vehicle division and stake sale by Tata Sons in TCS and Tata Tele Services.

"We believe the Tata Group of companies (represented by five largest listed entities) would generate Rs10,000 crore in free cash flows in FY2010, against Rs11,700 crore in debt coming due for repayment/refinance, implying a funding gap of Rs1,700 crore," the report noted.

Total debt of five Tata Group entities - Tata Motors, Tata Steel, TCS, Tata Power and Tata Communications – would rise to Rs91,000 crore in FY2010, accounting for 90 per cent of the group's revenues,  the analysts said.

This would include Rs40,600 crore from Tata Steel, Rs22,800 crore from Tata Motors, Rs21,400 crore from Tata Power and Rs6,200 crore from Tata Communications.

Tata Motors' Rs11,300 crore debt will come up for repayment/refinance in FY2010, the analysts said, adding, ''Tata Motors needs to refinance $2 billion (Rs10,000 crore) of its $3 billion one-year bridge loan coming due in June 2009, while another Rs1,300 crore debt is coming due in its books.

While Tata Sons has the financial flexibility to support group companies in extreme cases, the report said, the group might also be required to infuse fresh equity into one or more group companies, such as Tata Motors and Tata Steel in case of a market deadlock, the report added.