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Looking to bring down cost of borrowings: PFS

Press Trust of India  |  New Delhi 

Financial Services Ltd (PFS) is looking to bring down its cost of borrowings and is in discussions with various entities for competitive costs, the company said in its annual report.

"PFS is working towards lowering its cost of borrowings and is in discussions with various multi-lateral/bilateral financing institutions for arranging funds at competitive costs/terms," the company said in its annual report 2015-16.


The company said it wishes to explore opportunities across the infrastructure sector.

In 2015-16, the company's total sanctioned debt assistance crossed Rs 15,000 crore mark.

"The disbursements have been robust during FY16. PFS continues to focus its energies on lending outside coal-based power projects for infrastructure facilities such as power transmission, coal mining, private railway sidings and will continue to evaluate niche opportunities across energy value chain," it said.

Government is committed to provide everyone with access to electricity and has identified power sector as a key sector to focus on so as to promote sustained industrial growth, it added.

"The development activities and the interest in the renewable area offers good potential to PFS. PFS continues to evaluate business proposals for these projects in line with the developments taking place in the sector and the initiatives undertaken at the governmental level," says the report.

This apart, PFS' board has also recommended dividend of 12 per cent or Rs 1.2 per equity share of Rs 10 each for 2015-16.

A subsidiary of PTC India, PFS is a registered NBFC with the Reserve Bank.

The company provides financing solutions to the energy value chain which includes investing in equity or extending debt to power projects in generation, transmission, distribution, fuel resources and fuel-related infrastructure.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, September 03 2016. 21:07 IST
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