Srei Infrastructure Finance chairman and managing director Hemant Kanoria (left) with director Sunil Kanoria in Calcutta on Monday. Picture by Kishor Roy Chowdhury

Calcutta, June 16: City-based Srei Infrastructure Finance Ltd today reported a 58 per cent growth in profit after tax at Rs 132.73 crore on a consolidated basis in 2007-08 compared with Rs 84.16 crore in the previous year.

The company’s total income rose 90 per cent to Rs 800.73 crore in 2007-08 from Rs 420.69 crore a year ago.

Srei Infrastructure Finance, which inked a 50:50 joint venture with BNP Paribas Lease Group, has transferred its infrastructure equipment finance business to the new entity at the beginning of the current financial year.

Infrastructure equipment finance business comprised 80 per cent of the company’s total disbursement of Rs 5,763.93 crore in 2007-08.

“From 2008-09, Srei Infrastructure’s business portfolio will comprise project financing, advisory and large value infrastructure equipment financing (above Rs 15 crore),” said Hemant Kanoria, chairman and managing director of Srei Infrastructure Finance Ltd.

In the current financial year, Srei is looking at an aggregate disbursement of more than Rs 12,000 crore by the two companies — Srei Infrastructure Finance and joint venture Srei Equipment Finance.

“BNP Paribas has invested Rs 700 crore and Srei Infrastructure has a net worth of another Rs 800 crore. The two companies have enough capital to support their business growth and we don’t need to raise additional capital immediately,” said Sunil Kanoria, director of Srei Infrastructure Finance Ltd.

However, he said, the companies would have to raise debt to fund higher disbursements in both infrastructure and equipment financing during the current financial year.