SREI INFRASTRUCTURE FINANCE LTD
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BSE Code:
523756
NSE Code:
SREINFRA
Business Profile
Business Profile
Formerly Srei International Finance, Srei Infrastructure Finance (SIFL) is a leading infrastructure equipment finance and infrastructure project finance company. The company was incorporated in 1989 in Kolkata. SIFL has also ventured overseas and has set up offices in Germany and Russia. SIFL is also into renewable energy product finance. The company is a shareholder in Quipo Infrastructure Equipment Limited. SREI Venture Capital is a subsidiary of the company. SIFL has also formed a 100% subsidiary outfit in Germany, International Infrastructure Services GmbH, to venture into global corporate leasing business.
Financials
SREI Infrastructure Finance disclosed a substantial rise in standalone net profit for the quarter ended June 2008. During the quarter, the profit of the company rose 38.27% to Rs 321.90 million from Rs 232.80 million in the same quarter last year. Net sales declined 16.30% to Rs 1,016 million, while total income for the quarter fell 15.57% to Rs 1,027.20 million, when compared with the prior year period. The company reported earnings of Rs 2.77 a share during the quarter, registering 29.44% growth over previous year period.
Recent Developments
10-JUN-09
The company reduced its benchmark rate by 100 basis points from 16% to 15% with effective from Jul. 1, 2009.
30-APR-09
The company has decided to raise up to a maximum of Rs 10 billion via public issue of non convertible debentures (NCDs), in one or more tranches.
23-MAR-09
The company has signed a letter of intent (LOI) with the Netherlands based FMO to secure External Commercial Borrowing (ECB) of USD 100 million. This loan amount would be used to step up SREI`s infrastructure project finance and equipment financing business where SREI is the market leader in India.
18-FEB-09
The company announced that its consortium along with Czech based Amex International and West Bengal Transport Infrastructure Development, a government undertaking would be building a Rs 60 billion Light Rail Transit System (LRTS) in Kolkata.
Future Plans
SIFL plans to raise around USD 150 million through external commercial borrowings.