REC's Rs 4,500 cr tax-free bond issue to open on Dec 3
The company's net interest margin for first six months in this fiscal stood at 2.32 per cent. Net NPA was at 0.38 per cent at the end of September 30.
The Navratna PSU's loan outstanding as on March 31, 2012 stood at 1.01 lakh crore. The Government of India's stakeholding in REC is 66.8 per cent, while public share is 33.2 per cent.
REC sanctioned projects to the tune of Rs 50,000 crore, and disbursed Rs 20,000 crore in the first nine months of 2012-13, Agarwal said.
"Our target is to achieve the balance Rs 30,000 crore disbursements by this fiscal-end."
Last year the company, which mainly provides loans for various power projects, had raised Rs 3,000 crore through its first issue of tax-free bonds.
According to REC, total installed power capacity in the country was 2,09,276 MW as on March 31, 2012. Of this, 88,881 MW was in the state sector, 62,000 MW in central and nearly 60,000 MW in the private sector.
The public finance institution estimates its loan book to grow by 20-25 per cent in FY13 over the last fiscal. The company has targeted a disbursement growth of 15-20 per cent in the current fiscal.
Be the first to comment.