PFS sanctions debts worth Rs 1,1713 cr in FY11

PTC India Financial Services (PFS) sanctioned debts worth Rs 1,713 crore to various power projects in 2010-11, an increase of 69% as compared to the previous fiscal.

PFS, a non-banking finance entity promoted by PTC, had sanctioned debts to the tune of Rs 1,015 crore for about 14 projects in 2009-10.

In a regulatory filing today, PFS said it sanctioned a total debt of Rs 1,713 crore to 20 projects in 2010-11.

The company approved debts worth Rs 680 crore to seven thermal, wind, bio-mass and hydro projects in the first three months of 2011.

It disbursed Rs 801 crore in last fiscal, out of which Rs 172 crore was given in the January-March period.

"PFS has also sanctioned cumulatively participation in equity of power projects amounting to Rs 564 crore, with a disbursal of Rs 460 crore till March 31, 2011. This is likely to help capacity creation of 3,221 MW," the filing said.

The company, which raised over Rs 430 crore through an initial public offering, got listed on the bourses last month.

Shares of the company closed marginally down at Rs 21.60 on the Bombay Stock Exchange.