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| Srei Equipment bets big on government infra spend |
| BS Reporter / Kolkata Jul 06, 2009, 00:50 IST |
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Srei Equipment Finance, a 50:50 joint venture between Srei Infrastructure Finance and BNP Paribas Lease Group, expects disbursal to exceed the target by almost 28 per cent in the current financial year, if the government spending in infrastructure is on track.
"We expect good disbursals after September, after the monsoon season is over. We might exceed the disbursal target to Rs 9,000 crore," said D K Vyas, chief executive officer, Srei Equipment Finance. This financial year, Srei Equipment had set a disbursement target of Rs 7,000 crore.
In the April-June quarter, the loan disbursals were 10 per cent higher than the disbursals the same period of 2008-09, at Rs 1,100 crore.
"In April and May the disbursals were not as expected, but it then picked up in July," said Sunil Kanoria, joint managing director, Srei Equipment Finance.
In the second quarter of the present financial year, the company expects disbursals to be close to Rs 2,000 crore, a majority of which is likely to pick up in September.
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