Business Daily from THE HINDU group of publications
Saturday, Jul 04, 2009
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Business Daily from THE HINDU group of publications Saturday, Jul 04, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Performance Srei Equipment Fin posts 10% growth in disbursals Our Bureau Kolkata, July 3 Srei Equipment Finance Pvt Ltd, the 50:50 joint venture between Srei Infrastructure Finance and BNP Paribus Lease Group, has registered a 10 per cent growth in disbursals in the first quarter of 2009-10, according to Mr Sunil Kanoria, Director. “In April-June the disbursals by the company was Rs 1,100 crore, up from Rs 1,000 crore during the same period last year,” he told presspersons here on Friday, on the sidelines of a press conference to announce a tie-up with SBI Life Insurance. The collaboration would extend cover, for a loan of up to Rs 5 crore, to its borrowers. “In April-May the lending was low but it picked up in June with an overall improvement in economic scenario,” he said. The equipment finance company, with focus on coal mines, railways, road and irrigation projects, is looking at lending Rs 1,500 crore-Rs 2,000 crore in the second quarter of this fiscal, Mr Kanoria said. “While the disbursals during the monsoons may be low due to delay in constructions, it is expected to pick up from September.” More Stories on : Performance | NBFCs
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