Srei’s 2010-11 net profit up by 15 percent

May 19th, 2011 - 7:50 pm ICT by IANS  

Kolkata, May 19 (IANS) Kolkata-based Srei Infrastructure Finance Limited Thursday announced that it posted a profit after tax (PAT) of Rs.179 crore during the last fiscal compared to Rs.156 crore in 2009-10, registering a growth of 15 percent.

“Consolidated disbursements during the last financial year was Rs.14,400 crore as against Rs.9,017 crore in the previous year, recording a growth of 60 percent,” said Hemant Kanoria, chairman and managing director of Srei.

The consolidated assets under management rose by 55 percent to Rs.20,505 crore from Rs.13,265 crore in the previous year.

“Total asset base of the group currently is Rs.40,656 crore ($9.03 billion). Overall, we feel quite excited… we have done reasonably well,” he said.

He said total disbursement of the group would be about Rs.25,000 crore this fiscal — Rs.14,000 crore to Rs.15,000 crore would be in equipment financing and Rs.7,000 crore to Rs.8,000 crore in infrastructure financing.

“During the last financial year, we have a lot of road projects. This year we will have road, power and port projects.”

On infrastructure fund, he said: “We are basically concentrating on raising $500 million infrastructure fund. We will like to see the response.”

Srei will launch infrastructure bonds after September this year, he added.

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