L&T Infra confident of robust performance

L&T Infrastructure Finance Company Ltd (L&T Infra), the finance arm of engineering major Larsen & Toubro, today said it was on course to a robust performance in the current financial year.

“In the first six months of 2010-11, our disbursements have already touched Rs 2,100 crore compared to Rs 3,795 crore during the full financial year 2009-10,” L&T Infra Vice President (Risk & Asset Management) Ramesh M Bhujang said at a conference call here.

In the first quarter of 2010-11, which is generally lean for businesses, L&T Infra had posted a profit of Rs 50 crore vis-à-vis Rs 111 crore during the last fiscal.

He said the country’s infrastructure sector would continue to proliferate in coming years and L&T would be willing to provide funds to all viable projects in segments such as roads, telecom and power.

“During last year, our growth was almost 176 per cent, since the previous financial year, the business activity had gone down in the backdrop of the economic slowdown,” he said.

Bhujang was here to brief the media about the company’s public issue of tax-saving long term infrastructure bonds to raise Rs 700 crore.