Srei aims at 15% disbursement growth next financial year

Infrastructure finance company Srei Infrastructure Finance looks at a disbursement growth of about 15 per cent during the next financial year, a top company official said today.
"This year, our disbursement growth will be around seven per cent, but next year, we could have around 15 per cent growth," Srei Infrastructure Finance Vice Chairman Sunil Kanoria told reporters here.
He said that although sentiment has improved after the new government took over, real investments for new projects would begin only in the later part of the next financial year or in 2016-17.
In the quarter ended September, the company posted a net profit of Rs 21.21 crore as compared to Rs 11.09 crore in the same quarter last year.

Total income increased to Rs 471.36 crore from Rs 450.14 crore in the year ago quarter.
Kanoria said that improvement in stressed assets would only be seen in the next year.

"It will take another two quarters to see pressure easing on stressed loans. With the new 5:25 rules, we could see some easing on the non-performing assets (NPA) side," he said.
Last week, RBI had eased norms for flexible structuring of existing long-term project loans to infrastructure and core industries.
The 5:25 scheme envisages banks to refinance or sell out their long-term project loans after every five years, so that both borrowers and lenders don't face any issues.

Kanoria said the company would look at selling its stake in existing projects and may not raise fresh capital.
Srei Infrastructure is in the process of divesting its stake in telecom infrastructure arm, Viom, where it holds around 13 per cent.
"We are looking at divestment in Viom. This could be through an initial public offering or strategic sale. The capital released would help us to grow," Kanoria said, adding that the company may also look at exiting its five operational road projects.