The Telegraph
Monday , July 28 , 2014
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Srei charts growth map

Kanoria: Upbeat

Calcutta, July 27: Srei Infrastructure Finance expects credit disbursal to the infrastructure sector to increase in the second half of this fiscal on the back of faster clearances of projects.

Hemant Kanoria, chairman and managing director of the non-banking finance company, said it was eyeing a 10-12 per cent growth in business, largely driven by road and power sector projects.

“Infrastructure is a focus area of the government. This augurs well for infrastructure companies like us. I am expecting greater disbursement after the quarter ended September,” Kanoria said.

Srei’s total disbursement fell 18.9 per cent to Rs 12,706 crore in 2013-14. Assets under management grew 2.22 per cent to Rs 34,070 crore.

Kanoria said the government’s plan to streamline the hurdles faced by infrastructure projects would increase the cash requirement of individual projects.

Kanoria, who is also the chairman of India Power Corporation Limited, said the proposed 450 megawatt thermal power plant in Haldia was on track for commission next year.

Bank licence

Srei is also studying the draft guidelines issued by the Reserve Bank of India on differentiated banking licence for payment banks and small banks.

“We are studying the draft guidelines,” Kanoria said, adding that the company will take a call once the regulator issues the final guidelines.