The Hindu Business Line : IDFC to tap capital market in June

INFRASTRUCTURE Development and Finance Company (IDFC) has reported a 17 per cent increase in net profit to Rs 304 crore from Rs 259 crore in the previous financial year.

Its total income in 2004-05 increased by 14 per cent to Rs 728 crore.

The company's earnings per share rose to Rs 3 from Rs 2.60 while return on assets was 4.3 per cent. The non-performing assets stood at nil at the end of March 2005.

Disclosing the results, IDFC, Managing Director and CEO, Mr Rajeev Lall, said that the initial public offer of the company is expected to hit the capital market by June-end. IDFC would also launch a new fund with a corpus of Rs 1,300 crore by December this year for investing in infrastructure development projects, he said.

Mr Lall said that said the IDFC's balance-sheet is expected to grow from the present Rs 8,500 crore to around Rs 25,000 crore over the next five years at an average annual growth rate of 25 to 30 per cent.

The Government currently holds 35 per cent stake in IDFC directly and another 5 per cent through IDBI.

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