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India offers lot of opportunities to aviation sector: DFS Secy Joshi

India offers a lot of opportunities to the aviation industry, and the government has taken many initiatives to promote investment in the sector, Financial Services Secretary Vivek Joshi said on Saturday. Addressing a roundtable conference on the airport sector organised by IIFCL, Joshi said the launch of the 'Ude Desh ka Aam Nagarik' (UDAN) scheme has led to significant development of the sector in the past 7-8 years. As a result, the number of airports has almost doubled from 74 in 2014 to 148 in 2023, giving a boost to regional connectivity. The government has additionally given in-principle approval for setting up 21 greenfield airports across the country, he noted. Further, he said, two big airports coming up in Noida and Navi Mumbai will add to the capacity of the airports in the country. India's aviation industry has seen a remarkable boost in recent years facilitated by the government's investor-friendly legislation, supportive ecosystem and growing demand. The aviation .

IIFCL targets to raise Rs 17,000 crore from bond issuances in FY24

Infra financier IIFCL is targeting to raise up to Rs 17,000 crore through bond issuances in FY24, a top official said on Tuesday. The state-run company has already raised Rs 500 crore through a bond issue and will be doing issuances in tranches of Rs 2,000-3,000 crore going ahead, its managing director P R Jaishankar told reporters here. He said India Infrastructure Finance Company (IIFCL) will be looking at five to six more tranches of bond issuances in the remainder of the year to meet the target. The company feels that the price of bond borrowings is cheaper and will be relying more on such instruments as part of its overall liability management, he said, specifying that in FY23, its bond issuances were only Rs 6,000 crore. As the bond borrowings go up, the share of bank borrowings will go down, he said. It is also looking at issuing dollar bonds going forward, but nothing has been firmed up yet on it, Jaishankar said. The company has set itself a target of sanctioning up to R

IIFCL aims at loan sanctions Rs 35,000 cr and profit of Rs 2,000 cr in FY24

State-owned IIFCL looks to nearly double its loan sanctions and disbursement during the current financial year to fund infra projects in the country. Regarding loan sanctions, the company is aiming at Rs 35,000 crore while the disbursement target is about Rs 20,000 crore during the current financial year, IIFCL managing director P R Jaishankar told PTI. On the back of high expected growth in business, the company is also aiming for a nearly 100 per cent increase in the bottomline to Rs 2,000 crore during the year. India Infrastructure Finance Company Ltd (IIFCL) reported a two-fold jump in standalone net profit to Rs 1,076 crore for the fiscal ended March 2023. The company had posted record performance with the highest-ever sanctions and disbursements at Rs 29,171 crore and Rs 13,826 crore, respectively in 2022-23. To fund business growth, Jaishankar said the company plans to raise over Rs 16,000 crore during the current financial year. Resources would be mobilised mainly debt from

IIFCL's net profit doubles to highest ever of Rs 1,076 crore in FY23

India Infrastructure Finance Company Ltd (IIFCL) on Monday reported a two-fold jump in standalone net profit to Rs 1,076 crore for the fiscal ended March 2023 aided by an increase in lending and reduction of bad loans. The state-owned infrastructure finance company had earned a net profit of Rs 514 crore in the previous fiscal. The company recorded the highest ever profit, recovery, sanction and disbursement furthering turnaround performance that began three years ago, IIFCL managing director PR Jaishankar said while announcing annual financial numbers. The company continued to add value as its networth increased to Rs 12,878 crore in 2023-23 from Rs 11,737 crore in the preceding fiscal. During the year, he said, the company posted record performance with the highest-ever sanctions and disbursements at Rs 29,171 crore and Rs 13,826 crore, respectively. The cumulative sanctions and disbursements stood at Rs 2,13,378 crore and Rs 1,05,647 crore as of March 31, 2023. Going forward,

Measures taken by IIFCL to keep bad loans under check: Parliament panel

Appreciating the measures taken by IIFCL, a Parliamentary panel said initiative taken by the state-owned entity will keep bad loans under check and also help it in discharging its role as a pioneer lender in financing infrastructure projects. India Infrastructure Finance Company Limited (IIFCL) is a public sector financial institution established in January 2006 that is wholly-owned by the government of India. According to the Committee on Public Undertakings (COPU) submitted recently in Parliament, measures taken will go a long way in improving and strengthening the functioning of IIFCL. The company has put in place a Board approved Management Policy which lays out the Directives and Guidelines for time-bound resolution of NPA by taking proactive actions. The proactive actions are towards close monitoring, constant follow-up and evolving suitable modes for early resolution/ recovery of dues in line with the prescribed norm/guidelines of RBI and other applicable statutory/ regulato

Budget should make infra projects investor friendly: IIFCL MD PR Jaishankar

In an interview with Nikesh Singh, IIFCL managing director PR Jaishankar talks about the way ahead for the key infra financier

IIFCL extends Rs 6,630-cr loan for development of airports: MD Jaishankar

To support the massive growth in the aviation sector, the India Infrastructure Finance Company Limited (IIFCL) has extended a credit of Rs 6,630 crore for the development of six major airports in the country and looks forward to increasing its exposure in the coming years, said its managing director P R Jaishankar. Bullish on the growth of the aviation sector in the country, he said, the IIFCL also given in-principle approval of Rs 638 crore for the development of a greenfield airport in Andhra Pradesh. Over the past few years, India has seen massive growth in the airport sector, with increasing investments from both government and private sector, thanks to a rising proportion of middle-income households, infrastructure build-up at leading airports and supportive policy framework. "With an aim to finance development of world class airport infrastructure in India, IIFCL has, till date, sanctioned Rs 6,630 crore to six major airports in India in Delhi, Mumbai, Hyderabad, Navi Mumbai,

IIFCL has sanctioned Rs 8,244 crore loans to develop 20 ports, says MD

State-owned IIFCL has sanctioned Rs 8,244 crore loans to about 20 projects to help add 836 million tonnes per annum (MTPA) of ports capacity, which is one-fourth of India's total cargo volumes, a top company official said. India's total port capacity is about 2,600 MTPA. Of this, 12 major ports' cargo handling capacity stood at 1,598 MTPA as of March 2022. India Infrastructure Finance Company Ltd (IIFCL) has has been extending its financial support to many strategic port projects, including the Paradip Port, Essar Vizag port, Tuticorin, Krishnapatnam, Karaikal. "The latest is the Ramayapatnam port, which reinforces our belief in this very important sector and the potential it holds to improve connectivity, bring down logistics costs, and provide a boost to the economy," IIFCL Managing Director P R Jaishankar told PTI. With investment in three upcoming ports including Ramyapatnam and Bhavanapadu, he said, the capacity would touch 1,000 MTPA with these ports going on stream in a coup

IIFCL profit surges to 80% to Rs 514 cr in Q4 due to reduction in bad loans

With regard to asset quality, IIFCL has brought down gross non-performing assets (NPAs) to 9.22 per cent from 13.9 per cent a year ago.

IIFCL raises Rs 1,500 crore via debt to fund infrastructure projects

India Infrastructure Finance Company Ltd (IIFCL) on Thursday said it has raised Rs 6,000 crore in debt to provide impetus to government's infrastructure vision.

IIFCL raises Rs 1,500 cr via 10-yr bond at 7.17%, including green shoe

Sources say SBI Pension Fund and EPFO were key investors in the "AAA" rated paper

IIFCL invests in infra project bonds, issues NCDs worth Rs 325 cr

This marks IIFCL's first transaction under this initiative, the company said in a statement on Sunday. The NCDs are of a tenor of 10 years.

IIFCL aims for loan sanctions worth over Rs 23,000 crore in FY22

IIFCL is aiming at loan sanctions worth over Rs 23,000 crore and disbursements of Rs 14,000 crore in 2021-22 depending on the project pipeline available in the market.

IIFCL profit surges over three-fold to Rs 325 cr in FY21; NPA eases

The gross NPA of the company too declined to 13.9 per cent from 19.70 per cent in the previous financial year.

DFI goes back to the future: Will changes boost infra funding in India?

The Bill suggests that the government has learned from past mistake

A long jump for IIFCL as DFI tag to support financial needs, growth

Its planned incorporation into a larger development finance institution could present challenges for a company with a founding covenant that restricted its scale of operations

Old wine, new bottle

New DFI should not just be a bailout of the old

Govt funding on its own won't suffice for infra: P R Jaishankar, MD, IIFCL

In a Q&A, he asserts that 23-27% of the Rs 111 trillion required by the National Infrastructure Pipeline must come from banks and financial institutions

DFI likely to be set up with IIFCL's paid-up capital of Rs 10,000 crore

To have lower minimum capital adequacy ratio than NBFCs; IIFCL to clean up its Rs 4,500-crore bad loans

Top headlines: Jet to resume all services in 2021; DFI tag for IIFCL

From Jet Airways planning to resume all services in 2021 to FinMin proposing DFI tag for IIFCL, here are top headlines this morning